North Carolina HB 729: Penalties for Insurance Rate Evasion Fraud.-AB

Bill Text

GENERAL ASSEMBLY OF NORTH CAROLINA
SESSION 2025
H 3
HOUSE BILL 729
Committee Substitute Favorable 4/15/25
Committee Substitute #2 Favorable 4/30/25

Short Title: Farmland Protection Act. (Public)
Sponsors:
Referred to:
April 3, 2025
*H729-v-3*
A BILL TO BE ENTITLED 1
AN ACT TO PHASE OUT THE PROPERTY TAX EXCLUSION FOR SOLAR ENERGY 2
ELECTRIC SYSTEMS. 3
The General Assembly of North Carolina enacts: 4
SECTION 1. Effective for taxable years beginning on or after July 1, 2026, 5
G.S. 105-275(45) reads as rewritten: 6
"(45) Eighty percent (80%) Sixty percent (60%) of the appraised value of a solar 7
energy electric system. For purposes of this subdivision, the term "solar 8
energy electric system" means all equipment used directly and exclusively for 9
the conversion of solar energy to electricity." 10
SECTION 2. Effective for taxable years beginning on or after July 1, 2027, 11
G.S. 105-275(45), as amended by Section 1 of this act, reads as rewritten: 12
"(45) Sixty percent (60%) Forty percent (40%) of the appraised value of a solar 13
energy electric system. For purposes of this subdivision, the term "solar 14
energy electric system" means all equipment used directly and exclusively for 15
the conversion of solar energy to electricity." 16
SECTION 3. Effective for taxable years beginning on or after July 1, 2028, 17
G.S. 105-275(45), as amended by Section 2 of this act, reads as rewritten: 18
"(45) Forty percent (40%) Twenty percent (20%) of the appraised value of a solar 19
energy electric system. For purposes of this subdivision, the term "solar 20
energy electric system" means all equipment used directly and exclusively for 21
the conversion of solar energy to electricity." 22
SECTION 4. Effective for taxable years beginning on or after July 1, 2029, 23
G.S. 105-275(45) is repealed. 24
SECTION 5. Except as otherwise provided, this act is effective when it becomes 25
law. 26