§ 105-129.82. (See note) Sunset; studies. - North Carolina Statutes

§ 105‑129.82.  (See note)Sunset; studies.

(a)        Sunset. – ThisArticle is repealed effective for business activities that occur on or afterJanuary 1, 2011.

(b)        Equity Study. – TheDepartment of Commerce shall study the effect of the tax incentives provided inthis Article on tax equity. This study shall include the following:

(1)        Reexamining theformula in G.S. 143B‑437.08 used to define development tiers, to includeconsideration of alternative measures for more equitable treatment of countiesin similar economic circumstances.

(2)        Considering whetherthe assignment of tiers and the applicable thresholds are equitable for smallercounties.

(3)        Compiling anyavailable data on whether expanding North Carolina businesses receive fewerbenefits than out‑of‑State businesses that locate to NorthCarolina.

(c)        Impact Study. – TheDepartment of Commerce shall study the effectiveness of the tax incentivesprovided in this Article. This study shall include:

(1)        Studying thedistribution of tax incentives across new and expanding businesses andindustries.

(2)        Examining data oneconomic recruitment for the period from 2005 through the most recent year forwhich data are available by county, by industry type, by size of investment,and by number of jobs, and other relevant information to determine the patternof business locations and expansions before and after the enactment of thisArticle.

(3)        Measuring the directcosts and benefits of the tax incentives.

(4)        Compiling availableinformation on the current use of incentives by other states and whether thatuse is increasing or declining.

(d)        Report. – TheDepartment of Commerce shall report the results of these studies and itsrecommendations to the General Assembly biennially with the first report due byJune 1, 2009. (2006‑252,s. 1.1.)