A BILL TO BE ENTITLED
AN ACT to extend the sunset for the credit for investing in renewable energy property and to clarify the definition of nonresidential property.
The General Assembly of North Carolina enacts:
SECTION 1. G.S. 105‑129.16A(c) reads as rewritten:
"(c)	Ceilings. – The credit allowed by this section may not exceed the applicable ceilings provided in this subsection.
(1)	Nonresidential Property. – A ceiling of two million five hundred thousand dollars ($2,500,000) per installation applies to renewable energy property placed in service for any purpose other than residential. For purposes of this subdivision, property that is zoned for mixed use and used for both residential and nonresidential property is considered nonresidential property.
…."
SECTION 2.  G.S. 105‑129.16A(e) reads as rewritten:
"(e)	Sunset. – This section is repealed effective for renewable energy property placed into service on or after January 1, 2016."
SECTION 3.  This act is effective for taxes imposed for taxable years beginning on or after January 1, 2009.