NC H1712

Extends the sunset date for tax credits for oyster shell recycling from January 1, 2011 to January 1, 2013 for both corporate income tax (G.S. 105-130.48) and individual income tax (G.S. 105-151.30).

Provides a tax credit of one dollar ($1.00) per bushel of oyster shells donated to the Division of Marine Fisheries of the Department of Environment and Natural Resources.

Allows taxpayers to carry forward unused credit amounts for up to five succeeding years, with business successors able to claim predecessor carryforwards.

Requires taxpayers claiming the credit to file certification from the Department of Environment and Natural Resources documenting the number of bushels donated and prohibits claiming both the credit and a deduction for the same donation.

Becomes effective upon enactment and is recommended by the joint legislative commission on seafood and aquaculture.