LAST WEEK IN RALEIGH:
HB104/SB112/HB334: Align PPP Tax Treatment to Federal Treatment
These bills would align North Carolina with federal treatment on the issue of Paycheck Protection Program (PPP) loan deductibility, allowing North Carolina businesses to deduct expenses paid for with the proceeds of forgiven PPP loans for state income tax purposes. Senate Bill 104 would enact these measures beginning with the 2020 taxable year, while Senate Bill 112 and House Bill 334 would make these measures effective for the 2020 taxable year only. Latest Action: After previously earning strong bipartisan approval in the House, HB334 was withdrawn from the Senate Rules and Operations Committee and referred to the Senate finance Committee on Thursday, May 13th.
SB228/HB373: Allow Employers to Offer EPO Benefit Plans
These companion bills would give small and local businesses in North Carolina the ability to offer exclusive provider benefit plans, or EPOs, as a health insurance option for their employees. The NC Chamber supports these bills. The more choices small businesses have in providing affordable, high-quality health insurance options to their employees, the better these employers can manage their health care costs, and the healthier North Carolina will be as a state. As North Carolina recovers and relaunches from the pandemic, access to high-quality, lower cost health care is more vital than ever. These bills would increase coverage choices for small businesses by adding EPOs as an option for providing health coverage to employees at a potentially lower cost than competing options. Allowing employers to offer EPOs also advances North Carolina’s ability to successfully compete with other states for attracting job creators.
Latest Action: After passing the Senate unanimously on Wednesday, May 5, Senate Bill 228 was referred to the House Rules, Calendar, and Operations Committee on Monday, May 10. House Bill 373 was filed on Tuesday, March 23, and the following day, Wednesday, March 24, was referred to the House Health Committee.