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Top Story
NCCBI,
showing leadership
on budget crisis issue, proposes
half-cent hike in local option sales tax
 In
a letter distributed today to every member of the state House
and Senate as well as Gov. Mike Easley, NCCBI said the
legislature should pass a bill allowing local governments the
option of increasing the sales tax by half a cent to raise
needed revenue. However, NCCBI said it will support higher local sales taxes
if the counties agree to give up the reimbursement they
receive from the state as a result of the repeal of the
inventory and intangibles tax. That reimbursement was $333
million this fiscal year. The sales tax is 6 cents in every county but Mecklenburg,
where it’s 6 ½ cents. Of that, the state keeps 4 cents,
leaving the counties with 2 cents. Estimates are that a
half-cent hike in sales taxes would generate about $390
million a year. The letter, signed by President Phil Kirk and Vice President
of Governmental Affairs Leslie Bevacqua, said the NCCBI
Executive Committee, the association’s governing body, had
unanimously endorsed the action. Read
that story.
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Legislative News
No tax
hikes in House budget
that raises state spending by 3.4%
See a line-by-line summary of the House budget
For comparison, see the
spending plan adopted by the Senate
The
House on Thursday approved a $14.4 billion budget that
contains no new taxes but cuts deeper than the Senate into
university funding and restores some funding cut by the Senate
for human service programs. The Senate quickly rejected the
House’s spending plan, and conferees were appointed to work
out the differences. With no budget in place by the start of
the state’s fiscal year on July 1, the legislature had to
adopt a continuing resolution that will continue funding state
agencies at current levels on a temporary basis.
Read that story.
 Get
caught up with a week's worth of committee actions and floor
votes, as well as new laws on the books.
State
Government News
DOT
warns of road work over Fourth of July holiday
The
N.C. Department of Transportation says most work zones on
interstate and U.S. routes across the state will be open
during the July Fourth holiday, which extends from Tuesday,
July 3, to Thursday, July 5. But DOT warns there are some lane
closures and construction zones that may slow you down. Read
that and other stories from state government agencies.
NCCBI
News
Young Executives Forum goes high-tech
About 45 members of NCCBI’s Young Executives Forum met
Wednesday at the N.C. Biotechnology Center in Research
Triangle Park to focus on North Carolina’s growing high-tech
industry. They also
talked about the challenges and opportunities of starting new
companies and offered tips for finding venture capital. Meanwhile,
NCCBI issued a call for nominations to serve on the Small
Business Advisory Board. Read
those stories.
See the NCCBI Master Calendar
for meetings and events you should attend.
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