Enacts GS 105-153.11, establishing a tax credit in the amount of $3,000 for a taxpayer that has a qualifying relative, as defined in the Code, that is a veteran of the US Armed Forces and $1,500 for a taxpayer with any other qualifying relative for which the taxpayer is allowed a federal exemption. Sets income limits that the taxpayer's adjusted gross income must be less than, based on filing status, to qualify for the credit, ranging from $75,000 for single or married/filing separately, to $150,000 for married/filing jointly/surviving spouse. Allows the credit for each qualifying relative of the taxpayer for whom the taxpayer is allowed a federal exemption. Provides calculations of the credit for nonresidents or part-year residents. Prohibits the credit from exceeding the income tax imposed by the State for the taxable year reduced by the sum of all credits allowable, except payments of tax made by or on behalf of the taxpayer.  Effective for taxable years beginning on or after January 1, 2023.