A BILL TO BE ENTITLED
AN ACT to require certain tax incidence reports by the Department of revenue.
The General Assembly of North Carolina enacts:
SECTION 1.  G.S. 105‑256(a) is amended by adding the following subdivision to read:
"(a)	Publications. – The Secretary shall prepare and publish the following:
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(2a)	By March 1 of each odd‑numbered year, a report on the overall incidence of the income tax, sales and excise taxes, and property tax. In addition, the Secretary shall prepare for a finance committee, within 15 days of a request of a chair of the committee, an impact analysis report of a bill to change the tax system that would increase, decrease, or redistribute tax by more than twenty million dollars ($20,000,000). In a report required by this subdivision, the report shall present information on the distribution of the tax burden for the overall income distribution, using a systemwide incidence measure that appropriately measures equality and inequality, and by income classes broken down by quintiles. A report required by this subdivision shall use the broadest measure of economic income for which reliable data is available.
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SECTION 2.  This act becomes effective January 1, 2011.