GENERAL ASSEMBLY OF NORTH CAROLINA
SESSION 1999
SESSION LAW 1999-261
The General Assembly of North Carolina enacts:
Section 1. G.S. 159-13(b)(6) reads as rewritten:
"(b) The following directions and limitations shall bind the governing board in adopting the budget ordinance:
…
(6) The estimated percentage of collection of property taxes shall not be greater than the percentage of the levy actually realized in cash as of June 30 during the preceding fiscal year. For purposes of the calculation under this subdivision only, the levy for the registered motor vehicle tax under Article 22C of Chapter 105 of the General Statutes shall be based on the nine-month period ending March 31 of the preceding fiscal year, and the collections realized in cash with respect to this levy shall be based on the twelve-month period ending June 30 of the preceding fiscal year."
Section 2. This act is effective when it becomes law and applies to budget ordinances adopted after July 1, 1999.
In the General Assembly read three times and ratified this the 28th day of June, 1999.
s/ Dennis A. Wicker
President of the Senate
s/ James B. Black
Speaker of the House of Representatives
s/ James B. Hunt, Jr.
Governor
Approved 1:02 p.m. this 9th day of July, 1999