GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 1993

H	2 

HOUSE BILL 654
Second Edition Engrossed 5/6/93

Short Title:  Expand Jobs Tax Credit.	(Public)
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Sponsors: Representatives Baddour, Nesbitt (co-sponsors); Alphin, Arnold, Beall, Bowen, Bowman, Braswell, D. Brown, J. Brown, Burton, Cole, Cummings, Diamont, Edwards, Fitch, Hall, Hill, Holt, Judy Hunt, H. Hunter, James, Jenkins, Kinney, Kuczmarski, McAllister, McLawhorn, Mercer, Nye, Ramsey, Redwine, Richardson, Russell, Spears, Stewart, R. Thompson, Wainwright, Warner, Weatherly, Wilkins, Wilmoth, P. Wilson, and Wright.
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Referred to:  Finance.
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March 29, 1993

A BILL TO BE ENTITLED
AN ACT TO EXPAND THE NUMBER OF COUNTIES IN WHICH THE TAX CREDIT FOR CREATING JOBS IS AVAILABLE.
The General Assembly of North Carolina enacts:
Section 1.  G.S. 105-130.40(c) reads as rewritten:
"(c)	County Designation. – A severely distressed county is a county designated as severely distressed by the Secretary of Commerce. Each year, on or before December 31, the Secretary of Commerce shall designate which counties are considered severely distressed, and shall provide that information to the Secretary of Revenue. A county is considered severely distressed if its distress factor is one of the fifty highest in the State. The Secretary shall assign to each county in the State a distress factor that is the sum of the following:
(1)	The county's rank in a ranking of counties by rate of unemployment from lowest to highest.
(2)	The county's rank in a ranking of counties by per capita income from highest to lowest.
(3)	The county's rank in a ranking of counties by percentage growth in population from lowest to highest.
In measuring rates of unemployment and per capita income, the Secretary shall use the latest available data published by a State or federal agency generally recognized as having expertise concerning the data. In measuring population growth, the Secretary shall use the most recent estimates of population certified by the State Budget Officer. A designation as a severely distressed county is effective only for the calendar year following the designation."
Sec. 2.  G.S. 105-151.17(c) reads as rewritten:
"(c)	County Designation. – A severely distressed county is a county designated as severely distressed by the Secretary of Commerce. Each year, on or before December 31, the Secretary of Commerce shall designate which counties are considered severely distressed, and shall provide that information to the Secretary of Revenue. A county is considered severely distressed if its distress factor is one of the fifty highest in the State. The Secretary shall assign to each county in the State a distress factor that is the sum of the following:
(1)	The county's rank in a ranking of counties by rate of unemployment from lowest to highest.
(2)	The county's rank in a ranking of counties by per capita income from highest to lowest.
(3)	The county's rank in a ranking of counties by percentage growth in population from lowest to highest.
In measuring rates of unemployment and per capita income, the Secretary shall use the latest available data published by a State or federal agency generally recognized as having expertise concerning the data. In measuring population growth, the Secretary shall use the most recent estimates of population certified by the State Budget Officer. A designation as a severely distressed county is effective only for the calendar year following the designation."
Sec. 3.  By July 15, 1993, the Secretary of Commerce shall give the Secretary of Revenue a list of the 17 counties that this act adds to the category of severely distressed counties.  In compiling this list, the Secretary of Commerce shall use the same data that was available when the list of 33 counties was compiled for submission by December 31, 1992.
Sec. 4.  This act is effective for taxable years beginning on or after January 1, 1993.