GENERAL ASSEMBLY OF NORTH CAROLINA

1985 SESSION

 

 

CHAPTER 23

HOUSE BILL 116

 

AN ACT TO EXEMPT MUNICIPALITIES THAT BUY ELECTRIC POWER FROM A FEDERAL AGENCY AND MAKE PAYMENTS IN LIEU OF TAXES FROM THE SALES TAX ON UTILITY SERVICES.

 

The General Assembly of North Carolina enacts:

 

Section 1.  G.S. 105-164.3(25) is amended by changing the period at the end of that subdivision to a comma and adding the following phrase to read:  "other than a municipality whose only wholesale supplier of electric power is a federal agency and who is required by a contract with that federal agency to make payments in lieu of taxes."

Sec. 2.  This act is effective upon ratification and applies to sales made on or after January 1, 1985.

In the General Assembly read three times and ratified, this the 22nd day of March, 1985.