AN ACT to remove the sunset on the pass‑through entity allocation provisions of the historic rehabilitation tax credit.

The General Assembly of North Carolina enacts:

SECTION 1.  Section 9 of S.L. 1999‑389, as amended by Section 19(a) of S.L. 2001‑476 and Section 1 of S.L. 2003‑415, reads as rewritten:
"Section 9. Sections 1 through 6 of this act are effective for taxable years beginning on or after January 1, 1999. Sections 7 and 8 of this act become effective for taxable years beginning on or after January 1, 2000. The remainder of this act is effective when it becomes law."
SECTION 2.  This act is effective when it becomes law.
In the General Assembly read three times and ratified this the 31st day of July, 2007.

	_____________________________________
		 Beverly E. Perdue
	 President of the Senate

	_____________________________________
		 Joe Hackney
	 Speaker of the House of Representatives

	_____________________________________
		 Michael F. Easley
	 Governor

Approved __________.m. this ______________ day of ___________________, 2007