S478 • 2025

Enhancing Ag. Opportunities in Rural NC.

Passed Legislature

This bill passed both chambers and reached final enrollment, even if later executive action is not shown here.

Sponsor: Barnes, Sanderson, B. Newton, Brinson, Burgin, Corbin, Craven, Ford, Galey, Hanig, Moffitt, Settle
Last action: 2025-03-26
Official status: Ref To Com On Rules and Operations of the Senate
Effective date: Not listed

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

Enhancing Ag. Opportunities in Rural NC.

Enhancing Ag.

What This Bill Does

Enhancing Ag.
Opportunities in Rural NC.

Limits and Unknowns

This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Bill History

2025-03-26 Senate
Ref To Com On Rules and Operations of the Senate
2025-03-26 Senate
Passed 1st Reading
2025-03-25 Senate
Filed

Official Summary Text

Enhancing Ag. Opportunities in Rural NC.

Current Bill Text

Read the full stored bill text

GENERAL ASSEMBLY OF NORTH CAROLINA
SESSION 2025
S 1
SENATE BILL 478

Short Title: Enhancing Ag. Opportunities in Rural NC. (Public)
Sponsors: Senators Barnes, Sanderson, and B. Newton (Primary Sponsors).
Referred to: Rules and Operations of the Senate
March 26, 2025
*S478-v-1*
A BILL TO BE ENTITLED 1
AN ACT TO PROVIDE BA NKS AN INCOME TAX DE DUCTION FOR INTEREST, FEES, 2
AND PENALTIES RECEIVED FROM CERTAIN AGRICULTURAL LOANS. 3
The General Assembly of North Carolina enacts: 4
SECTION 1. G.S. 105-130.5(b) is amended by adding a new subdivision to read: 5
"(33) Interest, fees, and penalties received by banks from loans secured by 6
"agricultural land" as that term is defined in G.S. 105-277.2." 7
SECTION 2. This act is effective for taxable years beginning on or after January 1, 8
2025. 9