NC Will Exempt Virus Payments For Property Exemption

North Carolina will exempt coronavirus relief payments from gross income in a determination of whether a taxpayer qualifies for the homestead exemption under a bill signed by the governor.

H.B. 279, which Democratic Gov. Roy Cooper signed Tuesday, will provide that federal payments, like those given as a part of the Coronavirus Aid, Relief and Economic Security Act,  will not be included in a resident's gross income in a calculation of whether the resident qualifies for the state's homestead property tax exemption.

The bill will also extend the deadline to request a refund, according to the bill summary.

The bill was introduced March 15 by Rep. Julia Howard, R-Mocksville.

--Editing by John Oudens. 

For a reprint of this article, please contact reprints@law360.com.