summary
Introduced
01/30/2023
01/30/2023
In Committee
02/01/2023
02/01/2023
Crossed Over
Passed
Dead
12/13/2024
12/13/2024
Introduced Session
2023-2024 Session
Bill Summary
AN ACT TO EXPAND THE DISABLED VETERAN PROPERTY TAX HOMESTEAD EXCLUSION BY EXCLUDING FROM TAXATION THE ENTIRE APPRAISED VALUE OF THE PRIMARY RESIDENCE AND TO REIMBURSE LOCAL GOVERNMENTS FOR THEIR RESULTING REVENUE LOSS.
AI Summary
This bill expands the Disabled Veteran Property Tax Homestead Exclusion by excluding the entire appraised value of the primary residence from taxation, rather than just the first $45,000. It also establishes a "hold harmless amount" to reimburse local governments for the resulting revenue loss. The bill defines key terms like "disabled veteran" and "total hold harmless amount," and outlines the process for counties to notify the Secretary of Revenue and receive their reimbursement. This change is effective for taxes imposed for taxable years beginning on or after July 1, 2024.
Committee Categories
Government Affairs
Sponsors (26)
Sarah Crawford (D)*,
Terence Everitt (D)*,
Joe John (D)*,
Eric Ager (D),
Vernetta Alston (D),
Amber Baker (D),
Cynthia Ball (D),
Kanika Brown (D),
Terry Brown (D),
Allen Buansi (D),
Deb Butler (D),
Maria Cervania (D),
Patricia Cotham (R),
Carla Cunningham (I),
Rosa Gill (D),
Wesley Harris (D),
Frances Jackson (D),
Ray Jeffers (D),
Carolyn Logan (D),
Tim Longest (D),
Marvin Lucas (D),
Renée Price (D),
Amos Quick (D),
Caleb Rudow (D),
Charles Smith (D),
Julie Von Haefen (D),
Last Action
Ref To Com On Rules, Calendar, and Operations of the House (on 02/01/2023)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.ncleg.gov/BillLookUp/2023/H37 |
| BillText | https://www.ncleg.gov/Sessions/2023/Bills/House/PDF/H37v1.pdf |
| BillText | https://www.ncleg.gov/Sessions/2023/Bills/House/PDF/H37v0.pdf |
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