NORTH CAROLINA GENERAL ASSEMBLY

1979 SESSION

 

 

CHAPTER 1301

HOUSE BILL 1695

 

 

AN ACT TO MAKE THE EFFECTIVE DATE OF THE INDIVIDUAL INCOME TAX PROVISION FOR THE SALE OF A PRINCIPAL RESIDENCE BY THE ELDERLY THE SAME AS THE FEDERAL PROVISION.

 

The General Assembly of North Carolina enacts:

 

Section 1.  G.S. 105-141(b)(26)a. is amended to delete the words and figures "January 1, 1979" and to insert in lieu thereof the words and numbers "July 27, 1978".

Sec. 2.  Section 102 of Chapter 801 of the 1979 Session Laws of North Carolina is amended to delete the figure "38" and to add the following new language at the end of the section:

"Section 38 shall become effective with respect to taxable years beginning on and after July 27, 1978."

Sec. 3.  This act is effective upon ratification.

In the General Assembly read three times and ratified, this the 25th day of June, 1980.