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June 7 Jones Street Update

House Bill 966

As we continue to examine all of the similarities and differences between both chambers’ versions of House Bill 966, we have found a couple of points on which they did reach an agreement.

1)      Extend the sunset of the Historic Preservation Tax Credits—Both the House and Senate proposals extend the sunset for the credits until January 1, 2024.

2)      Disaster Relief Funding—While there are some differences in the amount provided for relief programs in the wake of Hurricanes Matthew and Florence, both chambers offer significant resources to assist communities which are working to rebuild.

3)      Economic Development Funding—In each chamber’s plans, legislators provided funds to support the state’s economic development efforts. Though there were some changes in each plan regarding programs like Film Grants, the final budget will include significant support for recruitment and retention efforts for business.

These three items certainly don’t capture all that was included in the more than 1800 pages of language and funding allocations put forth by both chambers. As the conference committee process moves forward, we will continue to analyze the areas of commonality, as well as the structure of the final plan.

What else happened?

This week didn’t see many committee meetings in either chamber. While that is not uncommon at this time of year, multiple bills, including many REALTOR priorities, are still awaiting action.

In the Senate Finance Committee, we did see a preliminary discussion of an additional clarification to the repair, maintenance, and installation taxes regarding services provided under a property management agreement (Senate Bill 523). This change is the result of significant work from multiple stakeholders to try to resolve issues found in the original proposal. The committee discussed this during their meeting on Wednesday and will likely take a vote on the bill next week.

Also, on Wednesday, the Senate Transportation Committee discussed House Bill 131 “Repeal Map Act.” This legislation would formally repeal the state’s Map Act which has been in place for more than thirty years. Enacted initially to give the Department of Transportation the ability to identify land to be used in future transportation corridors, it has been found to have been used to hold lands in perpetuity with no just compensation to the property owner nor actual projects being scheduled/funded. The bill passed the House unanimously in April and will now make one more committee stop in the Senate before moving to the floor for a final vote.

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