---
type: "Bill"
title: "Amend Franchise Tax Loophole."
description: "Amend Franchise Tax Loophole."
jurisdiction: "us/states/nc"
legislature: "North Carolina General Assembly"
session: "2003"
identifier: "SB 51"
citation: "North Carolina SB 51 (2003)"
classification: ["bill"]
subjects: ["COMMERCE", "CORPORATIONS", "FOR-PROFIT", "FISCAL NOTES", "PRESENTED", "PUBLIC", "RATIFIED", "TAXATION", "TAXES", "FRANCHISE", "SEN. CLODFELTER", "CHAPTERED"]
status: "enacted"
primary_sponsors: []
version_count: 5
action_count: 46
vote_count: 2
first_action: "2003-02-13"
last_action: "2004-07-09"
source: "openstates"
source_identifier: "ocd-bill/e962d482-7455-4582-ad37-c0b94d757443"
source_url: "http://www.ncleg.net/gascripts/BillLookUp/BillLookUp.pl?Session=2003&BillID=S51&votesToView=all"
source_hash: "54675931643a1a81528e896897fa4e085a77caee11ec6aa15ab811873053fe71"
vintage: "2026-07-01"
source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
retrieved_at: "2026-07-06"
confidence: "reported"
tags: ["legislation", "bill", "us-nc"]
---

# North Carolina SB 51 (2003) — Amend Franchise Tax Loophole.

## Version chain

The bill's text revisions, in order — the diff chain from filing to enrollment.

1. **Filed** (filed) — [source](http://www.ncleg.net/Sessions/2003/Bills/Senate/PDF/S51v0.pdf)
2. **Edition 1** (committee substitute) — [source](http://www.ncleg.net/Sessions/2003/Bills/Senate/PDF/S51v1.pdf)
3. **Edition 2** (committee substitute) — [source](http://www.ncleg.net/Sessions/2003/Bills/Senate/PDF/S51v2.pdf)
4. **Ratified** (committee substitute) — [source](http://www.ncleg.net/Sessions/2003/Bills/Senate/PDF/S51v3.pdf)
5. **SL 2004-74** (committee substitute) — [source](http://www.ncleg.net/Sessions/2003/Bills/Senate/PDF/S51v4.pdf)

## Votes

- Conference Rpt\Third Reading\Motion 7\To Adopt — **46–0** (pass) · upper
- Conference Rpt\Second Reading\Motion 7\To Adopt — **47–0** (pass) · upper

## Sponsors

- Clodfelter — cosponsor (person)

## Timeline

The legislative action history — every referral, reading, and vote.

- **2004-07-09** Ch. SL 2004-74 `became-law`
- **2004-07-09** Signed By Gov. 7/8/2004 `executive-signature`
- **2004-06-29** Pres. To Gov. 6/29/2004 `executive-receipt`
- **2004-06-28** Ratified
- **2004-06-24** Conf Report Adopted 3rd
- **2004-06-22** Placed On Cal For 6/23/2004
- **2004-06-22** Withdrawn From Cal
- **2004-06-21** Conf Report Adopted 2nd
- **2004-06-21** Conf Report Adopted 3rd
- **2004-06-17** Conf Report Adopted 2nd
- **2004-06-16** Placed On Cal For 6/21/2004
- **2004-06-16** Withdrawn From Cal
- **2004-06-16** Placed On Cal For 6/17/2004
- **2004-06-16** Conf Held As Material
- **2004-06-16** Conf Com Reported
- **2004-06-15** Placed On Cal For 6/16/2004
- **2004-06-15** Conf Com Reported
- **2003-07-18** Conf Com Appointed
- **2003-07-18** Conf Com Appointed
- **2003-07-17** Failed Concur In Com Sub
- **2003-07-16** Placed On Cal For 7/17/2003
- **2003-07-16** Rec To Concur H Com Sub
- **2003-07-16** Passed 3rd Reading `passage, reading-3`
- **2003-07-15** Passed 2nd Reading `reading-2`
- **2003-07-14** Placed On Cal For 7/15/2003
- **2003-07-10** Cal Pursuant Rule 36(b)
- **2003-07-10** Reptd Fav Com Substitute `committee-passage-favorable`
- **2003-05-22** Re-ref Com On Finance `referral-committee`
- **2003-05-22** Withdrawn From Cal
- **2003-05-13** Postponed To 5/22/2003
- **2003-05-08** Postponed To 5/13/2003
- **2003-04-29** Postponed To 5/8/2003
- **2003-04-24** Postponed To 4/29/2003
- **2003-04-21** Postponed To 4/24/2003
- **2003-04-09** Postponed To 4/15/2003
- **2003-04-08** Passed 2nd Reading `reading-2`
- **2003-04-07** Placed On Cal For 4/8/2003
- **2003-04-03** Cal Pursuant Rule 36(b)
- **2003-04-03** Reptd Fav `committee-passage-favorable`
- **2003-04-01** Ref To Com On Finance `referral-committee`
- **2003-04-01** Rec From Senate
- **2003-03-27** Passed 3rd Reading `passage, reading-3`
- **2003-03-26** Passed 2nd Reading `reading-2`
- **2003-03-25** Reptd Fav `committee-passage-favorable`
- **2003-02-17** Ref To Com On Finance `referral-committee`
- **2003-02-13** Filed `introduction`

## Source

OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/e962d482-7455-4582-ad37-c0b94d757443`. Confidence: reported (aggregated from official North Carolina legislature records).