NORTH CAROLINA GENERAL ASSEMBLY

1967 SESSION

 

 

CHAPTER 1185

HOUSE BILL 1171

 

 

AN ACT TO CLASSIFY PERSONAL PROPERTY IN INTERSTATE COMMERCE STORED IN PUBLIC WAREHOUSES IN NORTH CAROLINA FOR AD VALOREM TAX PURPOSES.

 

The General Assembly of North Carolina do enact:

 

Section 1.  Chapter 105, Article 13, of the General Statutes of North Carolina is hereby amended by adding a new paragraph to G.S. 105-281 to read as follows:

"Personal property of nonresidents of the State in their original package or fungible goods in bulk, belonging to a nonresident of the State, shipped into this State and placed in a public warehouse for the purpose of transshipment to an out-of-state or within the state destination and so designated on the original bill of lading, or personal property of residents of the State in their original package and fungible goods in bulk, belonging to a resident of the State, placed in a public warehouse for the purpose of transshipment to an out-of-state destination and so designated on the original bill of lading, shall be, while so in the original package, or as fungible goods in bulk, in such warehouse, and they are hereby designated a special class of personal property and shall not be assessed for taxation. No portion of a premises owned or leased by a consignor or consignee, or a subsidiary of a consignor or consignee, shall be deemed to be a public warehouse within the meaning of this Section despite any licensing as such. It is hereby declared to be the policy of this State to use its system of property taxation in such manner, through the classification of the aforementioned property, to encourage the development of the State of North Carolina as a distribution center. For purposes of this Section and this subchapter, the term "property, real and personal," as used in the first paragraph of this Section, shall not include the property hereinabove in this paragraph so specially classified."

Sec. 2.  All laws and clauses of laws in conflict with the provisions of this Act are hereby repealed.

Sec. 3.  This Act shall be in full force and effect on and after July 1, 1969.

In the General Assembly read three times and ratified, this the 6th day of July, 1967.