NC REALTORS Government Affairs Update

Legislative Commission on Global Climate Change

Last week’s meeting of the Commission on Global Climate Change centered on its final report to be submitted to the General Assembly before the start of the 2010 legislative session. The draft report is a lengthy combination of findings on climate and environmental matters which could affect North Carolina in the future. There are many findings in the draft which pertain to every aspect of the environment but one recommendation of note is to direct the General Assembly to study the policy of requiring disclosure of potential hazards to purchasers of coastal property. The Commission will hold its final meeting on May 5th and NCAR staff will be in attendance.

Finance Committees Discuss Corporate Tax IssuesBusiness taxes were the focus of the sixth meeting of the House and Senate Finance Committees, held this week in Raleigh. Presentations were given by several General Assembly staff members detailing the corporate income and franchise tax structures in North Carolina and how taxes and economic development are interrelated. Another staff member and Jason Jolley, a Senior Research Director with UNC’s Center for Competitive Economies, also presented information regarding North Carolina’s economic development incentives program and the use of business tax credits to promote economic development. Click here to access the meeting presentations. The final meeting will take place on April 28th and this discussion is expected to continue.