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Legislation passed in the 2003-2004 General Assembly
HB 1264 (Adopted) Authorizes the Clean Water Management Trust Fund, Natural Heritage Trust Fund (NHTF) and the Parks and Recreation Trust Fund (PARTF) to issue certificates of participation (COPs) for up to $45 million to finance land acquisition and other conservation projects.
Tax Credit for Real Property Donations, HB1602 (Adopted) Postpones the sunset provision that allows owners of the pass-through entity to receive the maximum individual tax credit ($250,000) until January 1, 2006. Also authorizes study of NC Conservation Tax Credit program by the General Assembly’s Revenue Laws Committee
Allow Family Business to Lease Farmland, HB1465 (Adopted): Allows farmland owned by a family business to keep its present-use value tax status when leased for farm use.
State Parks System Additions and Study,HB1574 (Adopted): Adds the Lower Haw River State Natural Area to the State Parks System and directs the Division of Parks and Recreation to complete a study on acquiring land and establishing a State Recreation Area at Blewett Falls Lake. Results will include cost and feasibility estimates and be reported by December 1, 2005.
State Natural and Historic Preserve Removals, HB1607(Adopted): Removes a portion of Hemlock Bluffs State Natural Area from the State Nature and Historic Preserve and Park System to provide a right-of-way for road widening in Cary, NC. The Bill also removes the Horne Creek Living Historical Farm in Mountain State Park from the Parks System for allocation to the Department of Cultural Resources.
Wetlands Reimbursement/Local Tax Base,SB 933(Adopted): Requires state and local government agencies that acquire land for wetlands mitigation in Tier 1 and 2 counties to reimburse the county in which the land is located for tax loss due to the acquisition.
Copies of all bills can be obtained through the NC General Assembly’s website at: www.NCLEG.net
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