Bill > S356

This bill modifies the North Carolina General Statutes to require the Secretary of Revenue to credit quarterly local sales and use tax refunds directly back to the North Carolina Global Transpark Authority (GTP), which is a state agency. Currently, these tax refunds may not be automatically returned to the Authority, but this legislation would ensure that any local sales and use taxes paid indirectly by the GTP would be refunded directly to the agency. The bill becomes effective immediately upon becoming law and will apply to tax refunds for the first full quarter after its enactment. This change appears designed to provide more direct financial support to the Global Transpark Authority by ensuring it receives back the local sales taxes it has paid, potentially improving the agency's financial flexibility and resources.

https://www.ncleg.gov/BillLookUp/2025/S356