The Voice of
Business, Industry & the Professions Since 1942 North Carolina's
largest business group proudly serves as the state chamber of commerce
May 19, 2000 * Issue No. 2 * The 2000 Short Session
Headlines
The House and Senate voted unanimously Thursday
to call a fall referendum on issuing $3.1 billion
in bonds for UNC Sytstem and Department of
Community College capital improvements. NCCBI
prepares to help lead the campaign for passage of
the referendum, and begins by releasing a poll
showing 77 percent of voters look favorably on
the bonds. * Complete story. * Poll results * List of UNC System bond projects. * List of community college bond projects.
Gov. Jim Hunt wields the
budget ax in proposing $334 million in spending
cuts to balance next year's state budget. But he
encounters legislative opposition over his idea
of using a $250 million judgment bond to pay off
the state's remaining obligation to refund
illegal intangibles taxes. Now that the governor
has gotten the ball rolling by submitting his
proposed budget for fiscal 2000-01, the General
Assembly's appropriations committees begin
cranking up to move major spending bills. * Complete story. *Text of Hunt's budget
remarks.
* Download the budget
document
(211k pdf file).
Individual income tax
collections in April come in $191.7 million below
budget, accounting for most of the $231.5 million
overall shortfall for the critical month in the
state's fiscal year. Corporate income tax
collections were $44.3 million below forecast for
the month but remain $89.6 million over budget
for the year. *Story, chart.
NCCBI issues an appeal
for members to contact their legislators in
support of session limits. *Story, links
Visit us at 225
Hillsborough Street, Suite 460, Raleigh, N.C.
Write to us at P.O. Box 2508, Raleigh, N.C. 27602
Call us at 919.836.1400 or fax us at 919.836.1425
e-mail: info@nccbi.org
Gov. Jim Hunt wields the
budget ax in proposing $334 million in spending
cuts to balance next year's state budget. But he
encounters legislative opposition over his idea
of using a $250 million judgment bond to pay off
the state's remaining obligation to refund
illegal intangibles taxes. Now that the governor
has gotten the ball rolling by submitting his
proposed budget for fiscal 2000-01, the General
Assembly's appropriations committees begin
cranking up to move major spending bills. 