Bill > H956

This bill grants the City of Eden certain contract powers, including the ability to enter into an agreement with Duke Energy that prevents the city from involuntarily annexing certain property owned by Duke Energy, known as the "Dan River Plant Property," for a period of five years. The city can accept payments in lieu of taxes from Duke Energy as consideration for this agreement. The bill provides details on the specific property covered by the agreement and authorizes the parties to further modify or extend the agreement without the approval of the General Assembly, as long as the modifications do not materially alter the concept of the agreement.

Budget and Finance, Government Affairs

http://www.ncga.state.nc.us/gascripts/BillLookUp/BillLookUp.pl?Session=2017&BillID=H956&votesToView=all