Amends GS 105-275 by adding a new subdivision (7a) excluding from the tax base real and personal property that (1) is a contiguous tract of land previously used primarily for commercial or industrial purposes and has been damaged by fire or explosion, (2) has been donated to a nonprofit corporation, as defined, and (3) has not been leased or sold by that nonprofit corporation. Effective for taxable years beginning on or after July 1, 2011, and expires for taxable years beginning on or after July 1, 2016.