North Carolina General Statutes 146-22.4. Acquisition of wetlands from private mitigation banking companies
Terms Used In North Carolina General Statutes 146-22.4
- state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall be construed to include the said district and territories and all dependencies. See North Carolina General Statutes 12-3
- State agency: includes every agency, institution, board, commission, bureau, council, department, division, officer, and employee of the State, but does not include counties, municipal corporations, political subdivisions of the State, county or city boards of education, or other local public bodies. See North Carolina General Statutes 146-64
(a) Payment for Taxes. – A State agency that acquires wetlands from a private mitigation banking company must pay a sum in lieu of ad valorem taxes to the county where the wetlands are located. The sum is equal to the estimated amount of ad valorem taxes that would have accrued for the next 20 years as computed in N.C. Gen. Stat. § 146-22.3(c).
(b) Requirement for Acquisition. – A State agency may require, as a condition of accepting a donation of wetlands by a private mitigation banking company, that the company make adequate provisions for the long-term maintenance and management of the wetlands. These provisions may include reimbursement to the agency for payment of a sum in lieu of ad valorem taxes.
(c) Application. – This section applies only to land acquired in counties designated as a development tier one area under N.C. Gen. Stat. § 143B-437.08 (2004-188, s. 5; 2006-252, s. 2.15.)