NC H872

Establishes a tax credit for taxpayers who develop smart-grid technology in North Carolina, defined as integrated communications, advanced components, advanced control methods, sensing devices, and improved interfaces for the electric grid.

Allows a credit of 20% for qualifying expenses paid to participating community colleges or research universities, and 15% for other qualifying expenses, on amounts exceeding $50,000.

Defines qualifying expenses as compensation and employee fringe contributions for full-time jobs with state withholding payments, plus amounts paid to community colleges or research universities for services performed in North Carolina.

Prohibits taxpayers claiming this credit from also claiming other tax credits, grants from the Job Development Investment Grant Program, or grants from the One North Carolina Fund for the same expenses.

Effective July 1, 2011.