GENERAL ASSEMBLY OF NORTH CAROLINA
SESSION 2001
S	1
SENATE BILL 1045*

 
 
Short Title:	Bill Lee Act Changes-AB.	()	
Sponsors:	Senator Hoyle.	
Referred to:	Finance.	
April 5, 2001

A BILL TO BE ENTITLED
AN ACT to amend the william s. lee quality jobs and business expansion act.

The General Assembly of North Carolina enacts:
SECTION 1.  G.S. 105-129.5(c) reads as rewritten:
"(c)	Carryforward. – Any unused portion of a credit with respect to a large investment or with respect to the technology commercialization credit allowed in G.S. 105‑129.9A may be carried forward for the succeeding 20 years. Any unused portion of a credit may be carried forward for the succeeding 10 years if the Secretary of Commerce certifies when an application for the credit is first made that the taxpayer will purchase or lease, and place in service in connection with the eligible business within a two‑year period, at least fifty million dollars ($50,000,000) worth of one or more of the following: real property, machinery and equipment, or central office or aircraft facility property. If the taxpayer fails to make the level of investment certified within this two‑year period, the taxpayer forfeits this enhanced carryforward period. Any unused portion of a credit with respect to research and development activities under G.S. 105-129.10 may be carried forward for the succeeding 15 years. Any unused portion of any other credit may be carried forward for the succeeding five years."
SECTION 2.  G.S. 105-129.4(b4) reads as rewritten:
"(b4)	Safety and Health Programs. – A taxpayer is eligible for a credit allowed under this Article only if the taxpayer certifies that, as of the time the taxpayer applies for the credit, at the business location with respect to which the credit is claimed, the taxpayer has no  citations under the Occupational Safety and Health Act that have become a final order within the past three years for willful serious violations or for failing to correct serious violations. For the purposes of this subsection, 'serious violation' has the same meaning as in G.S. 95-127. Additionally, in order to be eligible for a credit under this Article, the taxpayer must have an average lost workday injury and illness case rate over the preceding three years at or below the seventy-fifth percentile of the most recent national lost workday injury and illness case rates published by the Bureau of Labor Statistics of the United States Department of Labor for the taxpayer's employment size within the most specific industry classification of the taxpayer for which the rate is published. The Secretary of Commerce will provide the Department of Labor a list of all taxpayers making this certification. The Department of Labor may conduct random audit checks to verify taxpayers' certifications. The Department of Labor must notify the Department of Revenue of any taxpayer certifications it determines are not accurate."
SECTION 3.  G.S. 105-129.7 is amended by adding a new subsection to read:
"(c)	The taxpayer must provide a copy of any information required by the Secretary of Revenue to the Secretary of Commerce. The Secretary of Commerce shall use this information only to evaluate the effectiveness of the credits allowed under this Article and to compile the reports required under G.S. 105-129.6."
SECTION 4.  Section 22 of S.L. 1998‑55 reads as rewritten:
"Section 22. Section 10 of this act is effective for taxes imposed for taxable years beginning on or after July 1, 2001. Section 11 of this act becomes effective January 1, 1999, and expires  July 1, 2007. The remainder of Part III of this act becomes effective January 1, 2001, and applies to sales made on or after that date."
SECTION 5.  Section 2 of this act becomes effective January 1, 2002, and applies to applications filed on or after that date.  The remainder of this act is effective for taxable years beginning on or after January 1, 2001.