Laura Leslie of WRAL news is reporting on some draft changes that the NC Senate’s Finance Committee has made to House Bill 1224, changes that may help the Carteret County Commissioners address the County’s need for options to deal with local dredging costs.
The new version of House Bill 1224 would still cap local sales taxes at 2.5 percent. But it deletes a proposal to force counties to choose between funding education or transit through additional taxes. Most counties would have as much or more flexibility to raise sales taxes with voter approval under the new version as they do under current law. It would allow counties to raise local sales taxes up to a quarter-percent for “general purposes,” rather than solely for education or transportation.
For the tax-and-spenders, however, the new flexibility was not enough.
Johanna Reese with the NC Association of County Commissioners thanked Senate leaders for removing the “either/or” sales tax funding restriction, but said the cap is still a concern for her group.
Erin Wynia with the N.C. League of Municipalities urged lawmakers again to study the proposal over the interim. “We don’t believe this bill goes far enough in giving local communities the flexibility to decide what’s best for them,” she said.
And, as to the crowdfunding provisions:
The new version of the bill also includes the crowdfunding provision that passed the House last year. It would allow North Carolina companies to solicit up to $1 million a year in small investments – up to $2000 – from state residents. [NC Senate sponsor Rick Gunn, R-Alamance] said it would be “an appropriate tool” for the state to use to encourage start-ups, tech firms, and enterpreneurs.
The Senate Finance Committee is expected to vote on the changes later this week, after which, presumably, the House will be asked to concur. For the full WRAL article, click HERE.