HB 94 allows disabled veterans and their unremarried surviving spouses to prequalify for the disabled veteran property tax homestead exclusion. This means individuals can apply to determine their eligibility for the tax benefit before they purchase a permanent residence. Applicants submit a prequalification form with their disability certification, and the county assessor must notify them of their eligibility within 30 days. The bill aims to help taxpayers and lenders account for this tax relief when making home purchase decisions. After prequalification, a separate application for the exclusion is still required once a permanent residence is acquired.
This bill creates a new State Infrastructure Bank Board in North Carolina to manage federal, state, and private funding for transportation, water, and sewer infrastructure projects. The Board will be composed of six state officials including the Secretaries of Commerce, Transportation, and Environmental Quality, along with the State Treasurer, Auditor, and Budget Officer, and will operate independently within the Department of Commerce. It authorizes the Board to provide loans and financial assistance to local governments and toll authorities for infrastructure development, requiring repayment with interest and security based on project revenues or other assets. The legislation also establishes specific accounting procedures for the bank's funds, outlines rules for loan approval, and transfers existing infrastructure bank funds to this new Board, with an effective date of July 1, 2025.
House Bill 432 aims to provide various forms of property tax relief to North Carolina homeowners. It increases the property tax exclusion amounts for qualifying elderly or disabled homeowners and expands the exclusion for disabled veterans, allowing more of their home's value to be exempt from taxation. The bill also establishes a new "Homeowner Advantage Property Tax Relief Program" designed to cap the annual increase in a permanent residence's taxable value, based on inflation and a cumulative limit. To qualify for this program, homeowners must have occupied their residence for at least two years. Additionally, the bill creates an "Elderly Property Tax Homestead Circuit Breaker Program" and exemptions from the forced sale of a homestead.
HB 143 authorizes the Town of Maysville to impose a 6% occupancy tax on rental income from hotels, motels, and similar accommodations already subject to North Carolina's sales tax. This tax applies to all qualifying accommodations within Maysville and is collected separately from state and local sales taxes. Revenue from the tax must be sent quarterly to the Maysville Tourism Development Authority, which is required to use at least two-thirds of the funds for tourism promotion (like advertising and marketing) and the remainder for tourism-related expenses such as facility improvements. The bill also creates the Tourism Development Authority, requiring at least one-third of its members to represent tax-collecting businesses and half to be active in tourism promotion.
HB 58 modifies local election rules across North Carolina. It extends Kittrell's mayor and commissioners' terms from two to four years, changes Asheboro's school board to seven partisan-elected members (down from 11) with four-year staggered terms, and eliminates a mandatory school funding floor for Scotland County. The bill also establishes residency districts for Anson County commissioners, clarifies vacancy procedures for Caswell County, and allows Scotland County to set school budgets without state-mandated funding minimums. These changes directly affect local governments and school boards in multiple counties, altering election structures and budget authority.
