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North Carolina Legislative Update

Thursday, House budget writers rolled out pieces of what is likely to be a $21 billion budget proposal. Budget leaders held several subcommittee meetings to lay out spending proposals for the second year of the two-year state budget that takes effect July 1. The subcommittee proposals will then be sent to the House chief budget writers, who are hopeful that a budget proposal can be voted on next week on the House floor.

May 30, 2008  

Highlights of the House Budget

  • Teachers would receive a 3% raise and state employees a 2.75% raise or a one time $1,100 bonus, whichever is greater
  • $23 million for the Governor’s More at Four Program
  • $15 million for Drop Out Prevention Grants
  • $50 million in tax relief to lower income families and small businesses that provide health insurance
  • $1 million to help sheriffs enforce immigration law
  • $4 million for drought relief for farmers

Tax Credits approved by the House Finance Committee

  • $21 million increase to the earned income tax credit for low income families
  • Extend the Research and Development Tax Credit sunset to 2014
  • Provide a 3 day sales tax holiday on energy efficient products

Transportation Legislation
Lawmakers filed legislation in both chambers to tackle urban traffic congestion, start building the state’s first modern toll roads and find money for better bus service and a rail transit network.

The legislation would:

  • Set up a statewide fund for urban transit and congestion relief
  • Allow voters in urban areas to consider implementing a half cent sales tax dedicated to public transit
  • End the $172 million yearly transfer from the Highway Trust Fund to the General Fund
  • Provide seed money to start the Triangle Expressway, an 18 mile toll road for Research Triangle Park and Western Wake County
  • Underwrite a $1 billion statewide transportation bond

Also This Week

  • Reps. Lorene Coats (D-Rowan) and Becky Carney (D-Mecklenburg) introduced a joint resolution urging congress to end North Carolina's status as a donor state of federal highway tax revenues and to return 100% of the federal highway revenues the state remits to the federal government each year.
  • Rep. Alma Adams (D-Ruilford) introduced a resolution that would authorize the 2008 session of the general assembly to consider a bill that would provide all workers with paid sick days.

Please contact the mcguirewoods consulting raleigh team with any questions or comments:

Harry Kaplan, Senior Vice President
hkaplan@mwcllc.com

John Merritt, Senior Vice President
jmerritt@mwcllc.com

Johnny Tillett, Vice President
jtillett@mwcllc.com

Gardner Payne, Vice President
gpayne@mwcllc.com

Amy Schilder, Assistant Vice President
aschilder@mwcllc.com

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