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.

	s/	 Beverly E. Perdue
	 President of the Senate

	s/	 Joe Hackney
	 Speaker of the House of Representatives

	s/	 Michael F. Easley
	 Governor

Approved 8:48 p.m. this 28th day of August, 2007