NC H1015

Sets public utility regulatory fee at 0.12% of North Carolina jurisdictional revenues for quarters beginning July 1, 2012, and establishes electric membership corporation fee at $200,000 for 2012-2013 fiscal year.

Allows eligible educators to deduct up to $250 in unreimbursed classroom expenses (books, supplies, computer equipment, supplementary materials) on state income taxes, or $500 for married couples both teaching, effective for taxable years beginning January 1, 2012.

Extends refund period through October 1, 2012 for interstate passenger air carriers to claim sales tax refunds on aviation fuel purchased between January 1, 2010 and June 30, 2011, with state refund capped at $3.15 million.

Permits Industrial Development Fund moneys to finance sewer infrastructure improvements even when located in adjoining counties if directly related to eligible industrial activity operations.

Authorizes 20-year carryforward for Article 3J tax credits (instead of 5 years) for businesses investing at least $100 million in tier one development areas, effective for taxable years beginning January 1, 2012 through December 31, 2012.