NORTH CAROLINA GENERAL ASSEMBLY

1979 SESSION

CHAPTER 1109

HOUSE BILL 1538

AN ACT TO AMEND G.S. 105-141 TO PROVIDE FOR INDIVIDUALS AN INCOME TAX EXCLUSION ON INTEREST RECEIVED ON SAVINGS.

The General Assembly of North Carolina enacts:

Section 1.  G.S. 105-141 is amended to add at the end of subsection (b) a subdivision (28) to read as follows:

"(28)    Interest received, not to exceed two hundred dollars ($200.00), from savings deposits or certificates evidencing savings deposits in banks, credit unions, and savings and loan associations located within the State of North Carolina."

Sec. 2.  This act is effective upon ratification and shall apply to taxable years beginning on or after January 1, 1980.

In the General Assembly read three times and ratified, this the 19th day of June, 1980.