GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 2001

SESSION LAW 2001-517

HOUSE BILL 1388

AN ACT TO EXTEND THE SUNSET ON THE STATE PORTS TAX CREDIT.

The General Assembly of North Carolina enacts:

SECTION 1.  Section 4 of Chapter 977 of the 1991 Session Laws, as amended by Section 3 of Chapter 495 of the 1995 Session Laws and by Section 29.1 of S.L. 1997-443, reads as rewritten:

"Sec. 4. This act is effective for taxable years beginning on or after March 1, 1992, and ending on or before February 28, 2001. 1992, and expires for taxable years beginning on or after January 1, 2003."

SECTION 2.  Section 4 of Chapter 681 of the 1993 Session Laws, as amended by Section 17 of Chapter 17 of the 1995 Session Laws, by Section 4 of Chapter 495 of the 1995 Session Laws, and by Section 29.1 of S.L. 1997-443, reads as rewritten:

"Sec. 4. This act is effective for taxable years beginning on or after January 1, 1994, and ending on or before February 28, 2001. 1994, and expires for taxable years beginning on or after January 1, 2003."

SECTION 3.  This act is effective for taxable years beginning on or after March 2, 2000.

In the General Assembly read three times and ratified this the 4^th day of December, 2001.

                                                                    s/ Beverly E. Perdue

                                                                         President of the Senate

                                                                    s/ James B. Black

                                                                         Speaker of the House of Representatives

                                                                    s/ Michael F. Easley

                                                                         Governor

Approved 4:41 p.m. this 4^th day of January, 2002