GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 1995

S	1 

SENATE BILL 1107

Short Title:  Federal Pension Withholding Funds.	(Public)

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Sponsors: Senators Perdue; and Warren.

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Referred to:  Finance.

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May 14, 1996

A BILL TO BE ENTITLED
AN ACT TO APPROPRIATE FUNDS TO THE DEPARTMENT OF REVENUE SO THAT NORTH CAROLINA MAY FACILITATE THE WITHHOLDING OF STATE INCOME TAXES FROM FEDERAL PENSION CHECKS FOR RETIREES WHO REQUEST WITHHOLDING.
The General Assembly of North Carolina enacts:
Section 1.  There is appropriated from the General Fund to the Department of Revenue the sum of one hundred twelve thousand eight hundred thirteen dollars ($112,813) for the 1996-97 fiscal year for start-up costs for participation in the United States Office of Personnel Management's voluntary program for withholding State income tax from civil service pension benefits.  It is the intent of the General Assembly to appropriate an additional thirty-seven thousand two hundred forty-four dollars ($37,244) each year beginning in 1997 for the recurring costs of participating in the program.
Sec. 2.  This act becomes effective July 1, 1996.