A BILL TO BE ENTITLED
AN ACT TO PROVIDE A ONE‑TIME EXTENSION TO THE TIME PERIOD IN WHICH A TAXPAYER MAY SIGN A LETTER OF COMMITMENT WITH THE DEPARTMENT OF COMMERCE TO QUALIFY FOR A LOWER TIER DESIGNATION.
The General Assembly of North Carolina enacts:
SECTION 1.  Notwithstanding the provisions of Article 3A of Chapter 105 of the General Statutes to the contrary, a taxpayer that, on or before February 28, 2002, signed a letter of commitment with the Department of Commerce under G.S. 105‑129.8 to create new jobs at a location or a letter of commitment with the Department of Commerce under G.S. 105‑129.9 to place specific machinery and equipment in service at a location may calculate the credit for which the taxpayer qualifies based on the location's enterprise tier designation and development zone designation for 2001.
SECTION 2. This act is effective when it becomes law.