A BILL TO BE ENTITLED
AN ACT to phase in the sales tax on electricity sold by cape hatteras electrical membership corporation.
The General Assembly of North Carolina enacts:
SECTION 1.  G.S. 105‑164.4(a) is amended by adding a new subdivision to read:
"(a)	A privilege tax is imposed on a retailer at the following percentage rates of the retailer's net taxable sales or gross receipts, as appropriate. The general rate of tax is four and three‑quarters percent (4.75%).
…
(14a)	The rate of three and one‑half percent (3.5%) applies to the gross receipts derived from sales of electricity by Cape Hatteras Electric Membership Corporation."
SECTION 2.  This act becomes effective July 1, 2014, and expires July 1, 2015.