Senate committee substitute makes the following changes to 1st edition.
Adds two sections to make technical and clarifying changes to GS 105-134.5 and GS 105-134.6. Adds a new section to provide a tax credit under Article 3J in GS Chapter 105 (tax credits for small businesses) for the tax years of 2007-2010 to a taxpayer who files an amended return before January 1, 2013, provided the taxpayer (1) did not timely claim a credit, (2) would have been ineligible to claim a credit because the taxpayer did not meet the statutory environmental impact standard before SL 2010-147 (which modified the standard and made the changes retroactive to January 1, 2007) was enacted, and (3) satisfies the standard after the enactment of SL 2010-147.
Adds sections to make clarifying changes to provisions in GS Chapter 105, and amends GS 105-160.3(b) to add that an estate or trust is not allowed an education expenses credit. Makes clarifying changes to the definition of over-the-counter drug in GS 105-164.3(25a). Makes clarifying changes to the provisions concerning tax on unregistered vehicles in GS 105-330.3. Makes additional technical and clarifying changes.