North Carolina 2021-2022 Session Status: In Committee 17 R cosponsors

SB 337 — Tax Relief and Recovery Act.

Last action — Passed 1st Reading

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  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 2021-2022 Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Bill Text

What changed in the latest version

15 added · 16 removed

Plain-language change summary

The recent amendments to Bill SB 337 include changes to the language regarding the child deduction amount for taxpayers eligible for the federal child tax credit. This change clarifies how the tax benefits are applied, ensuring that families who qualify can take full advantage of these benefits. This matters because it aims to provide more financial support to families, potentially reducing their overall tax burden.

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FILED SENATE GENERAL ASSEMBLY OF NORTH CAROLINA Mar 23, 2021 S.B.
GENERAL ASSEMBLY OF NORTH CAROLINA SESSION 2021 S 1 SENATE BILL 337 Short Title:
337 SESSION 2021 PRINCIPAL CLERK S D SENATE BILL DRS15156-SVf-13 Short Title:
A BILL TO BE ENTITLED AN ACT TO REDUCE STATE INDIVIDUAL INCOME TAX AND FRANCHISE TAX.
Rules and Operations of the Senate March 24, 2021 A BILL TO BE ENTITLED AN ACT TO REDUCE STATE INDIVIDUAL INCOME TAX AND FRANCHISE TAX.
– Ataxpayerwhois allowedafederal childtaxcredit under section 24 of the Code for the taxable year is allowed a deduction under this subsection for each qualifying child for whom the taxpayer is allowed the federal tax credit.
– Ataxpayerwhois allowedafederal childtax credit under section 24 of the Code for the taxable year is allowed a deduction under this subsection for each qualifying child for whom the taxpayer is allowed the federal tax credit.
Filing Status AGI Deduction Amount Married, filing jointly/ Up to $40,000 $2,500.00$3,000 surviving spouse Over $40,000 Up to $60,000 2,000.002,500 Over $60,000 Up to $80,000 1,500.002,000 Over $80,000 Up to $100,000 1,000.001,500 Over $100,000 Up to $120,000 500.001,000 *DRS15156-SVf-13* General Assembly Of North Carolina Session 2021 Over $120,000 0 Up to $140,000 500.00 Over $140,000 0 5 Head of Household Up to $30,000 $2,500.00$3,000 Over $30,000 Up to $45,000 2,000.002,500 Over $45,000 Up to $60,000 1,500.002,000 Over $60,000 Up to $75,000 1,000.001,500 Over $75,000 Up to $90,000 500.001,000 Over $90,000 0 Up to $105,000 500.00 Over $105,000 0 Single Up to $20,000 $2,500.00$3,000 Over $20,000 Up to $30,000 2,000.002,500 Over $30,000 Up to $40,000 1,500.002,000 Over $40,000 Up to $50,000 1,000.001,500 Over $50,000 Up to $60,000 500.001,000 Over $60,000 0 Up to $70,000 500.00 Over $70,000 0 Married, filing separately Up to $20,000 $2,500.00$3,000 Over $20,000 Up to $30,000 2,000.002,500 Over $30,000 Up to $40,000 1,500.002,000 Over $40,000 Up to $50,000 1,000.001,500 Over $50,000 Up to $60,000 500.001,000 Over $60,000 0.
Filing Status AGI Deduction Amount Married, filing jointly/ Up to $40,000 $2,500.00$3,000 surviving spouse Over $40,000 Up to $60,000 2,000.002,500 Over $60,000 Up to $80,000 1,500.002,000 Over $80,000 Up to $100,000 1,000.001,500 Over $100,000 Up to $120,000 500.001,000 *S337-v-1* General Assembly Of North Carolina Session 2021 Over $120,000 0 Up to $140,000 500.00 Over $140,000 0 5 Head of Household Up to $30,000 $2,500.00$3,000 Over $30,000 Up to $45,000 2,000.002,500 Over $45,000 Up to $60,000 1,500.002,000 Over $60,000 Up to $75,000 1,000.001,500 Over $75,000 Up to $90,000 500.001,000 Over $90,000 0 Up to $105,000 500.00 Over $105,000 0 Single Up to $20,000 $2,500.00$3,000 Over $20,000 Up to $30,000 2,000.002,500 Over $30,000 Up to $40,000 1,500.002,000 Over $40,000 Up to $50,000 1,000.001,500 Over $50,000 Up to $60,000 500.001,000 Over $60,000 0 Up to $70,000 500.00 Over $70,000 0 Married, filing separately Up to $20,000 $2,500.00$3,000 Over $20,000 Up to $30,000 2,000.002,500 Over $30,000 Up to $40,000 1,500.002,000 Over $40,000 Up to $50,000 1,000.001,500 Over $50,000 Up to $60,000 500.001,000 Over $60,000 0.
(2) Fifty five percent (55%) of the corporation's appraised value as determined for ad valorem taxation of all the real and tangible personal property in this Page 2 DRS15156-SVf-13 General Assembly Of North Carolina Session 2021 State.
(2) Fifty five percent (55%) of the corporation's appraised value as determined for ad valorem taxation of all the real and tangible personal property in this Page 2 Senate Bill 337-First Edition General Assembly Of North Carolina Session 2021 State.
(3) (Effective for taxable years beginning on or after January 1, 2020, and applicable to the calculation of franchise tax reported on the 2019 and later corporate income tax returns) The corporation's total actual investment in tangiblepropertyin thisState.Forpurposes ofthissubdivision,thetotal actual investment in tangible property in this State is the total original purchase price or consideration to the reporting taxpayer of its tangible properties, including real estate, in this State plus additions and improvements thereto less (i) reserve for depreciation as permitted for income tax purposes and (ii) any indebtedness specifically incurred and existing solely for and as the result of the purchase of any real estate and any permanent improvements made on the real estate." SECTION 2.1.(b) G.S.
(3) (Effective for taxable years beginning on or after January 1, 2020, and applicable to the calculation of franchise tax reported on the 2019 and later corporate income tax returns) The corporation's total actual investment in tangiblepropertyin this State.Forpurposes ofthissubdivision, thetotal actual investment in tangible propertyin this State is the total original purchase price or consideration to the reporting taxpayer of its tangible properties, including real estate, in this State plus additions and improvements thereto less (i) reserve for depreciation as permitted for income tax purposes and (ii) any indebtedness specifically incurred and existing solely for and as the result of the purchase of any real estate and any permanent improvements made on the real estate." SECTION 2.1.(b) G.S.
– If a corporation or an affiliated group of corporations owns more than fifty percent (50%) of the capital interests in a noncorporate limited liability company, the corporation or group of corporations must include in its three tax bases base pursuant to G.S.
– If a corporation or an affiliated group of corporations owns more than fiftypercent (50%) of the capital interests in a noncorporate limited liabilitycompany, the corporation or group of corporations must include in its three tax bases base pursuant to G.S.
(ii) fifty-five percent (55%) of the noncorporate limited liability company's appraised ad valorem tax value of property;
(ii) fifty-five percent (55%) of the noncorporate limited liabilitycompany's appraised ad valorem tax value of property;
(2) If the tax calculated under this subdivision exceeds the tax calculated under subdivision (1)ofthis subsection,thenthe taxis leviedat the rate ofonedollar and fifty cents ($1.50) per one thousand dollars ($1,000) on the greater of the following:
(2) If the tax calculated under this subdivision exceeds the tax calculated under subdivision (1)ofthis subsection,thenthe tax is leviedat the rate ofonedollar and fifty cents ($1.50) per one thousand dollars ($1,000) on the greater of the following:
DRS15156-SVf-13 Page 3
Senate Bill 337-First Edition Page 3
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Action History

  1. Passed 1st Reading

  2. Ref To Com On Rules and Operations of the Senate

  3. Withdrawn From Com

  4. Re-ref to Finance. If fav, re-ref to Rules and Operations of the Senate

  5. Filed

Sponsors

Sponsorship breakdown

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2 sponsors · 21 co-sponsors · 156 not signed on

Sponsors (2)

Co-sponsors (21)

Not signed on (156)

156 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

taxation
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Frequently asked questions

Who sponsors SB 337?
SB 337 is sponsored by Todd Johnson (Republican), Steve Jarvis (Republican), Newton, Warren Daniel (Republican), Bill Rabon (Republican), Lisa S. Barnes (Republican), Danny Earl Britt, Jr. (Republican), Jim Burgin (Republican), Kevin Corbin (Republican), David W. Craven, Jr. (Republican), Edwards, Carl Ford (Republican), Amy S. Galey (Republican), Michael V. Lee (Republican), Tom McInnis (Republican), Perry, Proctor, Norman W. Sanderson (Republican), Vickie Sawyer (Republican), Steinburg, Krawiec, Michael A. Lazzara (Republican), and W. Ted Alexander (Republican).
What is the current status of SB 337?
This bill died with 2021-2022 Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track SB 337?
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