AN ACT TO PLACE A MORATORIUM UNTIL DECEMBER 31, 2004, ON the enactment of NEW OR EXPANDED ORDINANCES amortizing off premises outdoor advertising BY LOCAL GOVERNMENTS, AND TO DIRECT THE REVENUE LAWS STUDY COMMITTEE TO STUDY THE ISSUE.

The General Assembly of North Carolina enacts:

SECTION 1.  On or before December 31, 2004, no local government shall enact any new ordinance amortizing off premises outdoor advertising or extend or expand any existing ordinance amortizing off premises outdoor advertising.
SECTION 2.  The Revenue Laws Study Committee is directed to study local government ordinances amortizing off premises outdoor advertising, and report any findings, together with any recommended legislation, to the 2004 Regular Session of the 2003 General Assembly upon its convening.
SECTION 3.  This act is effective when it becomes law.
In the General Assembly read three times and ratified this the 20th day of July, 2003.

	s/	 Beverly E. Perdue
	 President of the Senate

	s/	 Richard T. Morgan
	 Speaker of the House of Representatives

	s/	 Michael F. Easley
	 Governor

Approved 6:30 p.m. this 19th day of August, 2003