AN ACT TO INCENTIVIZE BUFFERING OF MILITARY INSTALLATIONS FROM INCOMPATIBLE DEVELOPMENT AND PROTECTION OF FLOODPLAINS IN HURRICANE-DISASTER COUNTIES THROUGH THE USE OF TIME-LIMITED TAX CREDITS.
House committee substitute to the 2nd edition makes the following changes.
Amends reenacted GS 105-151.12, recodified as GS 105-153.11, concerning tax credits for individuals and pass-through entities for real property donations which can be used to buffer military installations from incompatible development. Changes a statutory cross-reference, now providing that the portion of a qualifying donation that is the basis for a credit under the statute is not eligible for a deduction as a charitable donation under GS 105-153.5(a)(2) (was, GS 105-130.9, which concerns charitable donations by corporations).
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