FRAR NC Bill Tracker

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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