One of NCHBA’s top Legislative Priorities, H.B. 852 Defer Tax on Builders' Inventory, was enacted on Friday, July 17 as Ch. SL 2009-308.

H.B. 852 will allow home builders with unsold inventory to defer the portion of tax assessed for the improvements (construction of a home). All of the deferred tax, plus interest, must be paid when the home is sold or occupied. This act is effective for taxes imposed for taxable years beginning on or after July 1, 2010.

Thank you to everyone who responded to the Call to Action by letting your legislators know what the deferral means to your business.