Enacts new GS 105-129.16K to provide a credit of 25% to any taxpayer who constructs, converts, or expands a commercial facility to manufacture components for plug-in electric vehicles. Sets out additional details on the credit, and sunsets the credit on January 1, 2017. Adds the definition for plug-in electric vehicle component to GS 105-129.15. Adds plug-in electric vehicle component to GS 105-129.55(a) to allow a research and development credit of 5% and adds the defined term to GS 105-129.50.
Applies to taxes imposed for tax years beginning on or after July 1, 2012.