The NC House of Representatives and NC Senate have each approved their versions of the state budget for FY2019-21. The Center has prepared a comparison chart highlighting key nonprofit provisions in the House and Senate versions of the budget and final legislative compromise budget released on June 25.
As part of the 2018-19 state budget (S.99), legislators included earmarked appropriationsof one-time funding to 148 nonprofits in key legislative districts. These appropriations total nearly $22 million dollars.The Center has compiled a list of these earmarks.
On May 19, the House of Representatives gave final approval to its version of the state budget (H.B. 1030) for FY 2016-17. Overall, the House budget, which passed with a 103-12 vote, would maintain or increase most state funding for nonprofits. Some highlights for nonprofits include:
Why Is Nonprofit Tax Exemption Essential for North Carolina?
1. It protects taxpayers.
- Nonprofits provide essential services that government would have to provide otherwise. Tax exemption costs much less than the cost of government having to provide the services itself.
- Nonprofits provide public benefits in exchange for tax exemption.
- Organizations may choose not to locate in counties or states that do not grant tax exemption. This is a potential loss for the people and economy in those locations.
The N.C. General Assembly has approved the state budget for FY2017-18.
The Center has prepared a chart comparing a variety of issues affecting nonprofits in the House and Senate budget proposals and the final budget.