The Daily Bulletin: Thursday, J uly 18, 2013
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UNC
SCHOOL OF GOVERNMENT
Published on Legislative Repotting Service ( http:/
/
lrs.sog.unc.edu)
The Daily Bulletin: Thursday, J uly 18, 20 13
PUBLIC/ HOUSE BILLS
H 14(20
Б-
2014) REV LAWS TECHNICAL, CLARIFYING, & ADMIN. CHG. Filed Jan 30 20
Б.
A BILL TO BE ENTITLED
AN ACT TO MAKE TECHNICAL, CLARIFYING, AND ADMINISTRATIVE CHANGES TO THE REVENUE LAWS AND RELATED
STATUTES, AS RECOMMENDED BY THE REVENUE LAWS STUDY COMMITTEE.
Senate amendment makes the following changes to the 4th edition.
Amends the introductory language to Sections 58(a) and 58(b), making technical corrections, changing references to
House Bill 988 to House Bill 998.
Amends proposed GS 105- 153. 6(e), Bonus Asset Basis, providing that when adding any remaining deductions
allowed under GS 10 5- 13. 6(a), the transferee must depreciate the adjusted basis over any remaining life of the asset.
Amends proposed GS 105- 153.6(f), Prior Transactions, providing that the limitations on future depreciation
deductions also apply to the transferor in specified transactions, in regards to the transferor and transferee making an
election to make the basis adjustment allo\№d on the transferee's 2013 tax return.
Amends GS 105- 164.
Б,
Retails sales and use tax, providing that state attractions, defined as a physical place
supported with state funds that offers cultural, educational, historical, or recreational opportunities, and an item
purchased by a professional motorsports racing team for which the team may receive a sales tax refund under GS 105-
164.14A(5), are exempt from the tax imposed by GS Chapter 105, Article 5, Sales and Use Tax. Effective J anuaiy 1,
20 14, and applies to taxable years that begin on or after that date and to purchases on or after that date.
Intro, by Howard. GS 20, GS 62A, GS 66, GS 105, GS 143, GS 161
Tax, Transportation
H 74 (2013-2014) REGULATORY REFORM ACT OF 2013 (NEW). Filed Feb 52013. ANACT TO IMPROVE AND
STREAMLINE THE REGULATORY PROCESS IN ORDER TO STIMULATE J OB CREATION, TO ELIMINATE UNNECESSARY
REGULATION, TO MAKE VARIOUS OTHER STATUTORY CHANGES, AND TO AMEND CERTAIN ENVIRONMENTAL AND
NATURAL RESOURCES LAWS.
Senate committee substitute to the 2nd edition makes the following changes. Much of the new language added to the
bill is also found in the 6th edition of S
1Б
(Create J obs Through Regulatory Reform) and the 4th edition of H 94
(Amend Environmental Laws 20 13).
Parti. Improve Rule Making Process
Amends GS
Б0В-2
to define policy as any nonbinding interpretive statement within the delegated authority of an
agency that merely defines, interprets, or explains the meaning of a statute or rule.
Amends GS
Б0В-21.4
to require an agency to obtain certification that funds required by a proposed rule change are
available from the Office of State Budget and Management before adopting a permanent rule change that would
require the expenditure or distribution of funds subject to the State Budget Act. Requires the agency to submit the
text of the proposed rule change, analysis of the change, and a fiscal note on the change at the time the agency
submits the notice of text for publication. Also requires that the analysis made to determine if the rule will result
in increased DOT costs that must be done when an agency adopts a rule affecting environmental permitting of
Department of Transportation (DOT) projects be conducted and submitted to the Board of Transportation when the
agency submits the notice of texts for publication (was, before the agency publishes the proposed text). Makes
conforming changes triggering other text and fiscal note submissions before an agency adopts a permanent rule
change (was, before an agency publishes the proposed text). Changes the definition of substantial economic impact to
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