Bill Summaries: H914 (2015-2016 Session)

Tracking:
  • Bill H 914 (2015-2016)
    Summary date: Apr 20 2015 - View summary

    Includes various whereas clauses concerning the Agricultural Development and Farmland Preservation Trust Fund (Fund).

    Amends GS 105-277.4(c) concerning deferred taxes for land valued for its present use providing that deferred taxes for the preceding four fiscal years are due and payable as specified when the property loses its eligibility for deferral (was, preceding three fiscal years). Adds language that provides that the taxing authority must remit any amount that exceeds the deferred taxes for the preceding three years to the Department of Agriculture and Consumer Services within 30 days of collection.

    Amends GS 106-744 to add new subsection (c4), which directs the Commissioner of Agriculture to credit the funds received by the Department of Agriculture pursuant to GS 105-277.4(c) to the Fund. 

    Amends GS 136-19, Acquisition of land and deposits of materials; condemnation proceedings; federal parkways, adding new subsection (j), which requires the Department of Transportation to take specified action to mitigate the loss of farmed and farmable land when it acquires either (i) property used for bona fide farm purposes or (ii) property containing alluvial soil deposits comprising more than 70% of the total acreage of the parcel acquired. Sets out certain terms for use in the subsection. Effective July 1, 2015, applying to any property condemnation proceeding commenced by the Department of Transportation on or after that date.

    Unless otherwise specified above, effective July 1, 2015. 
    Agriculture, Government, State Agencies, Department of Transportation, Tax
    GS 105, GS 106, GS 136

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