Re-enacts GS 105-130.34 as it existed before it was repealed and makes the following changes. Amends GS 105-130.34 to give a C Corporation that makes a qualified donation of an interest in real property located in North Carolina during the taxable year that is useful: (1) for farmland preservation,;(2) for fish and wildlife conservation; (3) as a buffer to limit land use activities that would restrict, impede, or interfere with military training, testing, or operations on a military installation or training area or otherwise be incompatible with the mission of the installation; (4) for floodplain protection in a county that, in the five years preceding the donation, was the subject of a Type II or Type III gubernatorial disaster declaration as a result of a natural disaster; (5) for historic landscape conservation; or (6) for public trails or access to public trails (was, public beach access or use, public access to public waters or trails, fish and wildlife conservation, forestland or farmland conservation, watershed protection, conservation of natural areas, conservation of natural or scenic river areas, conservation of predominantly natural parkland, or historic landscape conservation) an income tax credit equal to 25% of the fair market value of the donated property interest. Makes additional clarifying and technical changes.

Reenacts GS 105-151.12 as it existed immediately before its expiration, recodifies it as GS 105-153.11, and makes the following changes. Gives an individual or pass-through entity that makes a qualified donation of an interest in real property located in North Carolina during the taxable year that is useful: (1) for farmland preservation; (2) for fish and wildlife conservation; (3) as a buffer to limit land use activities that would restrict, impede, or interfere with military training, testing, or operations on a military installation or training area or otherwise be incompatible with the mission of the installation; (4) for floodplain protection in a county that, in the five years preceding the donation, was the subject of a Type II or Type III gubernatorial disaster declaration as a result of a natural disaster; (5) for historic landscape conservation; or (6) for public trails or access to public trails (was, public beach access or use, public access to public waters or trails, fish and wildlife conservation, forestland or farmland conservation, watershed protection, conservation of natural areas, conservation of natural or scenic river areas, conservation of predominantly natural parkland, or historic landscape conservation) an income tax credit equal to 25% of the fair market value of the donated property interest. Adds that the portion of a qualifying donation that is the basis for a credit allowed under this statute is not eligible for deduction as a charitable contribution under GS 105-130.9. Makes additional clarifying and technical changes, including removing outdated language.

Effective for taxable years beginning on or after January 1, 2023.