Enacts new Article 3L, Tax Incentives for Local Food Sourcing, in GS Chapter 105. Allows a grocer (as defined) contracting with a producer for the wholesale purchase of local food and farm products (as defined) a tax credit of 20% of the wholesale price of the local food and farm products purchased. Also defines food, minimally processed, and producer. Includes provisions concerning refunds, substantiating claims for the credit, and reporting by the Department of Revenue. Sunsets the Article effective for taxable years beginning on or after January 1, 2020.

Effective for taxable years beginning on or after January 1, 2015.