1 "(a) Qualifying improvements on brownfields properties are designated a special 



2 class f property under Article V, Sec. 2(2) of the North Carolina Constitution and shall 



3 be appraised, assessed, and taxed in accordance with this section. An- Except as 



4 provided in this subsection, an owner of land who is protected from liabilitv for 



5 remediation pursuant to G.S. 130A-3 10.33(a) is entitled to the partial exclusion 



6 provided by this section for the fnst five taxable years begirming after completion of 



7 qualifying improvements made after the later of July 1, 2000, or the date of the 



8 brownfields agreement. If a person who caused or contributed to contamination at a 



9 brownfields property holds any ownership interest in the propertv. that person is not 



10 eligible for the partial exclusion. After property has qualified for the exclusion provided 



11 by this section, the assessor for the county- in which the property is located shall 



12 annually appraise the improvements made to the property during the period of time that 



13 the owner is entitled to the exclusion." 



14 SECTION 12: This act becomes effective 1 July 2004. 



47 



