House committee substitute amends the 1st edition as follows.

Makes the following revisions to Part 5, Tax Credits for Qualified Business Investments, of Article 4, GS Chapter 105 as reenacted, effective for taxable years beginning on or after January 1, 2021. Expands the definition of qualified business venture to include a business registered with the Secretary of State that primarily engages in commercialization of information technology including hardware and software, health care technology including medical devices and pharmaceuticals, biotechnology, consumer goods, energy technology, food technology, and agricultural technology (was, limited to registered businesses primarily engaged in manufacturing, processing, warehousing, wholesaling, research and development, or a service-related industry). Amends subsection (b1) of GS 105-163.011, which provides for a tax credit for pass through entities that commit capital to qualified businesses directly in an amount equal to 25% of the investment, to exclude pass-through entities that commit capital under management in excess of $7.5 million rather than $5 million.