General Assembly sends budget to governor
Tuesday, July 31st, 2007
By Chris Fitzsimon
The General Assembly gave final approval Monday for its most expansive legislation of the year: a $20.7 billion state budget that significantly helps county governments by providing new tax options and Medicaid relief this year.The House approved the budget as part of a two-year spending plan by a vote of 64-52, the second of two required votes. The Senate voted to approve the budget minutes later by a vote of 31-19.
Gov. Mike Easley is expected to sign the bill into law.
The bill makes permanent a statewide sales-tax increase first approved as temporary in 2001; N.C. sales tax will continue to be 6.75 percent sales tax on most purchases.
New in this budget: Counties will be allowed two options to add local taxes — increase local sales tax by quarter cent or add a land-transfer tax of 0.2 percent to 0.6 percent of a home’s sale price. Both taxes would require voter approval. — associated press (more…)
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