GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 1999

H	1 

HOUSE BILL 1583*

Short Title:  Nonhazardous Dry-Cleaning Tech. Incentive.      	(Public)

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Sponsors: Representatives Gibson; Morris and Culp.

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Referred to:  Finance.

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May 18, 2000

A BILL TO BE ENTITLED
AN ACT TO PROVIDE A NEW TAX CREDIT AS AN INCENTIVE FOR INVESTING IN DRY-CLEANING AND WET-CLEANING EQUIPMENT THAT DOES NOT USE HAZARDOUS SUBSTANCES AS SOLVENTS, AS RECOMMENDED BY THE ENVIRONMENTAL REVIEW COMMISSION.
The General Assembly of North Carolina enacts:
Section 1.  Article 3B of Chapter 105 of the General Statutes is amended by adding a new section to read:
"§ 105-129.16C. Credit for investing in dry-cleaning or wet-cleaning equipment that does not use hazardous substances as solvents.
(a)	Credit. – If a taxpayer that has purchased or leased qualified dry-cleaning or wet-cleaning equipment places it in service in this State for commercial purposes during the taxable year, the taxpayer is allowed a credit equal to thirty-five percent (35%) of the cost of the equipment.  No credit is allowed under this section to the extent the cost of the equipment was paid with public funds.  A taxpayer that claims any other credit allowed under this Chapter with respect to qualified dry-cleaning or wet-cleaning equipment may not take the credit allowed in this section with respect to the same equipment.
(b)	Definitions. – The following definitions apply in this section:
(1)	Hazardous solvent. – A solvent any portion of which consists of a chlorine-based solvent, a hydrocarbon-based solvent, a hazardous substance as defined in the Comprehensive Environmental Response, Compensation, and Liability Act of 1980, Pub. L. 96-510, 94 Stat. 2767, 42 U.S.C. 9601 et seq., as amended, and the Superfund Amendments and Reauthorization Act of 1986, Pub. L. 99-499, 100 Stat. 1613, as amended, or any substance determined by the Administrator of the Environmental Protection Agency or the Director of the National Institute of Occupational Safety and Health to possess either carcinogenic potential to humans or bioaccumulative properties.
(2)	Qualified dry-cleaning or wet-cleaning equipment. – Equipment that is designed primarily to dry-clean or wet-clean clothing and other fabric and that does not use any hazardous solvent as the process solvent."
Section 2.  This act is effective for taxable years beginning on or after January 1, 2001.