NORTH CAROLINA GENERAL ASSEMBLY

1969 SESSION

CHAPTER 486

HOUSE BILL 404

AN ACT TO AMEND CHAPTER 118 OF THE GENERAL STATUTES, RELATING TO THE NORTH CAROLINA FIREMEN'S PENSION FUND, SO AS TO EXCLUDE FROM GROSS INCOME CERTAIN RETIREMENT BENEFITS FROM THE NORTH CAROLINA FIREMEN'S PENSION FUND.

The General Assembly of North Carolina do enact:

Section 1.  G.S. 118-32, as the same appears in the 1964 Replacement Volume 3B of the General Statutes, is hereby amended by adding the words "nor shall the pensions be subject to any state or municipal tax," immediately following the word "assignable" in line three thereof.

Sec. 2.  All laws and clauses of laws in conflict with this Act are hereby repealed.

Sec. 3.  This Act shall be effective and shall apply to all taxable years beginning on or after January 1, 1969.

In the General Assembly read three times and ratified, this the 14th day of May 1969.