House committee substitute to the 1st edition makes the following changes.
Adds the following content and makes conforming changes to the act’s organization and titles.
Removes specified property from Vass’s corporate limits. Specifies that this has no effect on the validity of the Town’s liens for ad valorem taxes or special assessments outstanding before June 30, 2026; allows the liens to be collected or foreclosed upon after that date as though the property were still within the Town’s corporate limits. Specifies that property in the described territory as of January 1, 2026, is no longer subject to municipal taxes for taxes imposed for taxable years beginning on or after July 1, 2026.
Removes specified property from Red Oak’s corporate limits. Specifies that this has no effect on the validity of the Town’s liens for ad valorem taxes or special assessments outstanding before June 30, 2026; allows the liens to be collected or foreclosed upon after that date as though the property were still within the Town’s corporate limits. Specifies that property in the described territory as of January 1, 2026, is no longer subject to municipal taxes for taxes imposed for taxable years beginning on or after July 1, 2026.
Removes specified property from Kernersville’s corporate limits. Specifies that this has no effect on the validity of the Town’s liens for ad valorem taxes or special assessments outstanding before June 30, 2026; allows the liens to be collected or foreclosed upon after that date as though the property were still within the Town’s corporate limits. Specifies that property in the described territory as of January 1, 2026, is no longer subject to municipal taxes for taxes imposed for taxable years beginning on or after July 1, 2026.
Repeals SL 1977-55, which prohibited the Village of Walnut Creek from exercising powers of annexation provided for in the general law.