A BILL TO BE ENTITLED
AN ACT to modify the machinery act of North carolina.
The General Assembly of North Carolina enacts:
SECTION 1.  G.S. 105‑275 reads as rewritten:
"§ 105‑275.  Property classified and excluded from the tax base.
The following classes of property are designated special classes under Article V, Sec. 2(2), of the North Carolina Constitution and are excluded from tax:
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(16)	Non‑business Property. —As used in this subdivision, the term "non‑business property" means personal property that is used by the owner of the property for a purpose other than the production of income and is not used in connection with a business. The term includes household furnishings, clothing, pets, lawn tools, and lawn equipment. The term does not include motor vehicles, mobile homes, aircraft, watercraft, or engines for watercraft.
(16a)	Qualified Business Property. – As used in this subdivision, the term "qualified business property" means personal property (i) suitable when fully functional to be used by the owner of the property for the production of income or in connection with a business or both and (ii) due to malfunction or nonfunction has a value not greater than scrap value.
…."
SECTION 2.  G.S. 105‑307 reads as rewritten:
"§ 105‑307.  Length of listing period; extension; preliminary work.
(a)	Listing Period. – Unless extended as provided in this section, the period during which property is to be listed for taxation each year begins on the first business day of January and ends on April 15.
	The entire period for listing, including any extension of time granted, is considered the regular listing period for the particular year within the meaning of this Subchapter.

	
(c)	Individual Extensions. – If the county has provided for electronic listing of personal property under G.S. 105‑310.1, the board of county commissioners may grant individual extensions of time for the listing of real and personal property upon written request and for good cause shown. The request must be filed with the assessor no later than the ending date of the regular listing period. The board may delegate the authority to grant extensions to the assessor. Extensions granted under this subsection shall not extend beyond June 1.
(d)	Preliminary Work. – The assessor may conduct preparatory work before the listing period begins, but may not make a final appraisal of property before the day as of which the value of the property is to be determined under G.S. 105‑285."
SECTION 3.  This act is effective for taxes imposed for taxable years beginning on or after July 1, 2023.