Bill Summaries: H877 (2011-2012 Session)

Tracking:
  • Bill H 877 (2011-2012)
    Summary date: Jun 9 2011 - View summary

    House committee substitute makes the following changes to 1st edition. Rewrites the 1st edition in its entirety to direct the Revenue Laws Study Committee to study the issue of allowing individuals to make elections on their income tax return to donate all or part of their tax refund to the State of North Carolina and various specified agencies. Authorizes report to the General Assembly. Makes conforming changes to the title.
    State Government, General Assembly, Tax
  • Bill H 877 (2011-2012)
    Summary date: May 2 2011 - View summary

    Enacts new GS 105-269.7 to allow an individual entitled to an income tax refund to elect to contribute all or part of the refund to one or more of the following departments or to the state General Fund to be used for governmental services, spending, and appropriations: (1) Department of Cultural Resources, (2) Department of Health and Human Services, (3) Department of Public Instruction, (4) Department of Public Safety, (5) General Fund of the State of North Carolina, and (5) University of North Carolina. Requires that an explanation stating that the contributions will be remitted according to the individual’s election and used by the state to provide governmental services be included in the instructions. Provides that the election cannot be revoked upon the filing of the individual’s income tax return for the taxable year. Directs the Secretary of Revenue to transmit all contributions to the State Treasurer, who will then distribute the funds to the named departments or deposit them into the General Fund as indicated on the tax return. Effective for taxable years beginning on or after January 1, 2012.
    State Government, Tax
    GS 105

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