A BILL TO BE ENTITLED
AN ACT to increase the statewide cap on the qualified business venture tax credit.
The General Assembly of North Carolina enacts:
SECTION 1.  G.S. 105‑163.012(b) reads as rewritten:
"(b)	The total amount of all tax credits allowed to taxpayers under G.S. 105‑163.011 for investments made in a calendar year may not exceed eight million dollars ($8,000,000). The Secretary of Revenue shall calculate the total amount of tax credits claimed from the applications filed pursuant to G.S. 105‑163.011(c). If the total amount of tax credits claimed for investments made in a calendar year exceeds this maximum amount, the Secretary shall allow a portion of the credits claimed by allocating the maximum amount in tax credits in proportion to the size of the credit claimed by each taxpayer."
SECTION 2.  This act is effective for investments made on or after January 1, 2008.