FRAR NC Bill Tracker

Posted byAngie HedgepethPosted inStateTags:, ,

FRAR NC Bill Tracker – The following proposed bills will have a direct impact on the Cumberland County area.  These bills are progressing through the General Assembly as of July 25, 2013. (Some information in this chart was obtained from the North Carolina Association of REALTORS® and the North Carolina General Assembly website)

Bill Number Key Points of the Bill Word on the Street/Additional Info
TAX Bill House 998 – Adjustment to Federal Taxable Income 

 
  • Personal Income Tax – flat rate of 5.8% in 2014 and 5.75% in 2015
  • Caps the mortgage interest and property tax deductions at $20,000
  • $15,000 for married filing jointly
  • 12,000 for head-of-household
  • $7,500 for single
  • Corporate Income Tax – 6% in 2014 and 5% in 2015, 4% in 2016, 3% in 2017
 NC General Assembly has approved this tax reform and was signed by the governor on 7/23/13.
House Bill 150 – Zoning/Design & Aesthetic Controls
  • Prevents local governments from over-regulating  design mandates on single family residential housing through zoning ordinances (Unified Development Ordinances)
 Referred to Committee on Rules and Operations (Senate)
Senate Bill 389 – Land Use Surrounding Military Installations
  •  Regulates the maximum height of a building to no more than 200 feet within 5 miles of a military installation
  • Exemptions are water, radio, telephone, cellular or television towers
  Bill is now NC Law
 Senate Bill 545 – Master Meters/Landlord Tenant Agreement
  •  Master meter for electric/natural gas when utilities are included in rental payments but the service is in the landlord’s name
  Bill is now NC Law
 House Bill 793 – Homeowners Associations
  •  Requirement of a HOA/condo associations with annual assessments of $100,000 or more…must maintain a bond to insure against theft
  Bill passed the House and will be heard in the Senate Commerce Committee
 House Bill 802 – Expedited Eviction
  •  Decrease timeline for eviction of a tenant by reducing the number of days each process in a summary ejectment proceeding and eviction proceeding
 Signed by the governor on 7-23-13.  Becomes effective 9/1/13

 

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Published by Angie Hedgepeth

Angie Hedgepeth, Government Affairs Director for the Association, attends all the local meetings each month, as well as NAR and NCAR meetings, and keeps members abreast of the multiple issues being addressed in local, state and national government. She prepares reports on the meetings she attends and they are included in the weekly "Government Affairs Update".