GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 1997

H	1 

HOUSE BILL 59

Short Title:  Update IRC Reference.	(Public)

─────────────────────────────────────── 
Sponsors: Representatives Neely, Blue, Cansler, Capps, Church, Shubert; Mosley and Hill.

─────────────────────────────────────── 
Referred to:  Finance.

─────────────────────────────────────── 

February 5, 1997

A BILL TO BE ENTITLED
AN ACT TO UPDATE THE REFERENCE TO THE INTERNAL REVENUE CODE USED IN DEFINING AND DETERMINING CERTAIN STATE TAX PROVISIONS.
The General Assembly of North Carolina enacts:
Section 1.  G.S. 105-228.90(b)(1a) reads as rewritten:
"(1a)	Code. – The Internal Revenue Code as enacted as of January 1, 1997, including any provisions enacted as of that date which become effective either before or after that date."
Section 2.  Notwithstanding Section 1 of this bill, amendments to sections 101(b), 104, and 877 of the Internal Revenue Code as enacted as of January 1, 1997, and any other amendments to the Internal Revenue Code enacted in 1996 that increase North Carolina taxable income for the tax year 1996, become effective for taxable years beginning on or after January 1, 1997.
Section 3.  This act is effective when it becomes law.