Revenue laws bill presented to governor

RALEIGH — A wide-ranging state revenue bill has been presented to Gov. Josh Stein after clearing the North Carolina General Assembly.

Senate Bill 595, titled “Various Revenue Laws Changes,” was presented to the governor Friday, June 26, according to the bill page and the General Assembly’s list of bills pending the governor’s signature.

The bill page lists Sens. Tom McInnis and Amy Galey Craven as primary sponsors. It also lists no counties specifically cited, making the measure statewide in scope.

The bill covers multiple areas of state law. The General Assembly’s keyword list for the bill includes taxation, corporate income taxes, excise taxes, fuel taxes, highway use taxes, tax refunds, tax returns, credit unions, financial institutions, aviation, alcoholic beverages, lottery, tobacco products, motor vehicles and the Department of Revenue.

According to the bill summary, the measure includes technical and policy changes across several parts of state law. One provision discussed in the summary would create a tax credit tied to qualified rehabilitation expenditures for certain eligible corporate campuses. Other sections address credit union regulation, including definitions, reports of condition, examinations, administrative hearings, penalties, emergency waivers and powers of the administrator of credit unions.

Because the bill contains many distinct provisions, lawmakers and agencies would likely review separate effective dates and implementation language if it becomes law.

The bill was listed as ratified and presented to the governor June 26. Stein may sign it, veto it or allow it to become law without his signature.

Editor’s note: This article was drafted with the assistance of artificial intelligence and was reviewed and fact-checked by a member of the NC Political News editorial team before publication.