Bill to Expand, Extend North Carolina HTC Advances to Senate
Legislation that would extend and expand the North Carolina historic tax credit (HTC) passed the state House of Representatives and now is in the Senate. H.B. 399 would extend the sunset date from Jan. 1, 2020, to Jan. 1, 2032, although it would apply to expenses incurred after Jan. 1, 2024. The legislation would also increase the amount of expenditures eligible for the 15 percent and 10 percent credits, increase the statewide cap for HTCs awarded in certain areas that get a 5 percent boost and add a 5 percent HTC bonus for property in declared disaster areas.