Reenacts GS 105-129.16A, which establishes a tax credit for taxpayers that have invested in renewable energy property at 35% of the cost of the property if placed in service in the state during the taxable year. Extends the sunset of the statute, so that the statute is repealed effective for renewable energy placed into service on or after January 1, 2025 (was January 1, 2016). Repeals subsections (f) through (h), which provide delayed sunsets for certain renewable energy properties. Makes conforming changes. Effective for taxable years beginning on or after January 1, 2023.
RENEWABLE ENERGY TAX CREDIT.
|View NCGA Bill Details||2023-2024 Session|
AN ACT TO REENACT A TAX CREDIT INCENTIVE FOR INVESTING IN RENEWABLE ENERGY PROPERTY.Intro. by Harris, Harrison, Clemmons, T. Brown.
Status: Ref To Com On Rules, Calendar, and Operations of the House (House action) (Mar 23 2023)
Wed, 22 Mar 2023 House: Filed
Thu, 23 Mar 2023 House: Passed 1st Reading
Thu, 23 Mar 2023 House: Ref To Com On Rules, Calendar, and Operations of the House
Bill H 443 (2023-2024)Summary date: Mar 22 2023 - View Summary