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State Government
State Revenues Nearly $200 Million Ahead Of Projections PDF Print E-mail
State Government
By Administrator   
Thursday, 01 December 2016 16:13
Governor Pat McCrory says state revenue collections are $191 million ahead of projections through the first third of the fiscal year. The surplus is driven by more people working and earning more.
 
“At a time when neighboring states ended the fiscal year with steep revenue deficits, our continued economic growth, job creation and responsible financial management have helped North Carolina post another revenue surplus,” Governor McCrory said. “In an environment of historic tax cuts to the tune of $4.7 billion, revenues coming into the state continue to increase.”
 
According to the latest revenue figures, total General Fund revenues for October were $46.3 million or 2.6 percent above target.
 
The primary drivers of the upward revisions are higher than anticipated growth in personal income and franchise tax revenues due to higher than expected wage growth and business profits.
 
Since Governor McCrory entered office in January 2013, North Carolina’s economy is one of the fastest growing in the nation adding more than 300,000 net new jobs. The state’s unemployment rate during that time fell from 8.8 percent to 4.9 percent and has decreased in all 100 counties. The governor also signed historic, pro-growth tax reform saving families and businesses $4.7 billion and positioning North Carolina as the most improved business tax climate in the nation.
 
Legislators Say Taxes Will Be Tweaked, Not Reformed, During General Session PDF Print E-mail
State Government
By Administrator   
Thursday, 01 December 2016 16:03
Legislative budget and tax writers tell Carolina Journal the N.C. General Assembly isn’t likely to tackle extensive tax reform next year.  Many lawmakers told the paper they wanted recent tax reforms to "settle".
 
The General Assembly passed major tax reform in 2013 that established flat personal income tax rates and lowered personal and corporate income taxes. The reform also expanded the income- and sales-tax base. Since then, lawmakers have focused much of their tax-writing efforts on tweaking that law.
 
Taxes that will be under legislative scruitny include the franchise tax, the mill machinery tax and “market-based sourcing,” which could benefit companies with headquarters and manufacturing plants in North Carolina.
 
The General Assembly’s 2017 long session is scheduled to begin Jan. 11, 2017, when newly elected lawmakers return to Raleigh for an organizational meeting to elect their top leaders.
 
Last Updated on Thursday, 01 December 2016 16:05
 
Speaker Moore Gets GOP Nod For Second Term PDF Print E-mail
State Government
By Administrator   
Tuesday, 22 November 2016 12:26
North Carolina House Republicans have selected Tim Moore of Cleveland County to serve another two years as Speaker of the House. 
 
The full House still has to the vote on Moore when it reconvenes in January but Moore's selection by the Republican majority assure his election to the House's top leadership position. 
 
Rep. Sarah Stevens, R-Surry, will serve as speaker pro tem succeeding Paul Stam of Wake County who retired from the legislature and did not seek re-election. 
 
Rep. John Bell of Wayne County will serve as majority leader. 
 
Other leadership posts filled by the Republicans are: 
Rep. Steven Ross of Alamance County, Deputy Majority Leader 
Rep. John Szoka of Cumberland County, Conference Chair 
Rep. Jon Hardister of Guilford County, Majority Whip 
 
State Sells Three Properties For $12.6 million PDF Print E-mail
State Government
By Administrator   
Tuesday, 22 November 2016 11:33
The state has accepted offers totaling $12.6 million for three properties as part of his Project Phoenix initiative to return underutilized state properties to more productive and efficient use.
 
“The sale of these properties marks significant progress for our Project Phoenix initiative to unload costly, underused state property and return money to the taxpayers,” Governor Pat McCrory said. “Not only will the sale of these inefficient properties generate one-time revenue and save millions in operating costs, but it will also spur economic development and help revitalize our cities.”
 
This week, the state accepted a $6 million offer for the 49-acre property that housed the former Charlotte Correctional Facility at 4100 Meadow Oak Drive in west Charlotte. The state also accepted a $4.85 million offer on the Personnel Training Center which occupies approximately 1.7 acres on Peace Street in the heart of downtown Raleigh. The final offer accepted this week was $1.75 million for the Old Steam Plant located at 210 North Dawson Street, also in downtown Raleigh.
 
The three offers are expected to be considered for final approval by the Council of State in December.
 
Under Governor McCrory’s leadership, North Carolina has reformed how state government occupies space for greater efficiency, productivity and cost control, not to mention the importance of state-owned assets to their surrounding areas. Project Phoenix is Governor McCrory's initiative to improve the state’s occupancy of real estate across North Carolina. This initiative takes advantage of today’s low interest rates and North Carolina’s innovative private sector in pioneering public-private partnerships to transform government spaces across the state.
 
As part of the governor’s initiative, the state has completed the sale of 11 historic homes in the Blount Street District and one remains on the market. The sale of these homes is estimated to return approximately $7 million to the state.
 
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