§ 105-563. Modification or repeal of tax. - North Carolina Statutes

§ 105‑563.  Modificationor repeal of tax.

The Board of Trustees may, byresolution, repeal the levy of the tax under this Article or decrease theamount of the tax, under the same procedures and subject to the samelimitations as provided in G.S. 105‑561. A tax repeal or a tax decreasebecomes effective on the date set by the board of trustees in the resolutionrepealing or decreasing the tax. The effective date must be on the first day ofa month and may not be earlier than the first day of the sixth calendar monthafter the board of trustees adopts the resolution. Repeal or decrease of a taxlevied under this Article does not affect the rights or liabilities of anAuthority, a taxpayer, or another person arising before the repeal or decrease. (1997‑417,s. 4; 2009‑527, s. 5(b).)