Passed One ChamberFiled Apr 23, 2026
Sponsor: Paré
Latest Action
Ref To Com On Rules and Operations of the Senate
May 22, 2026
Summary
The bill revises North Carolina’s property‑tax break for nonprofit organizations that provide low‑ or moderate‑income housing and creates a new exemption for affordable rental housing. It sets rules for who can claim the exemption, how much tax is waived, and how long the benefit lasts. The changes aim to encourage more nonprofit development of affordable homes while ensuring accountability.
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