Provides that if Senate Bill 726 (IRC Update) or House Bill 973 (IRC Update) become law, then GS 105-130.5B, Adjustments when State decouples from federal accelerated depreciation and expensing and GS 105-153.6, Adjustments when State decouples from federal accelerated depreciation and expensing, will be amended by adding new subsections (c1) to provide that the dollar limitations and add-back requirements in GS 105-130.5B(c) and GS 105-153.6(c) do not apply to small businesses engaged in production of goods or delivery of services, or both, that do not have more than $2 million in gross annual sales. 

Effective for taxable years beginning on or after January 1, 2016.