GENERAL ASSEMBLY OF NORTH CAROLINA SESSION 1999 



1 (b) For the purposes of this section, the terms "qualifying 



2 improvements on brownfields properties" and "qualifying 



3 improvements" mean improvements made to real property that is 



4 subject to a brownfields agreement entered into by the Department 



5 of Environment and Natural Resources and the owner pursuant to 



6 G.S. 130A-310.32. 



7 (c) The following table establishes the percentage of the 



8 appraised value of the qualified improvements that is excluded 



9 based on the taxable year; 

 10 



11 Year Percent of Appraised Value Excluded 



12 Year 1 90% 



13 Year 2 75% 



14 Year 3 50% 



15 Year 4 30% 



16 Year 5 10% . " 



17 Section 2. This act is effective for taxes imposed for taxable 



18 years beginning on or after July 1, 2001. 



I 



^^""^ ^ ERCOQ-SGZ-002.01 (4.25) 



