NC H919

Increases unemployment insurance tax credit for small businesses from 25% to 50% of contributions, and raises the small business revenue threshold from $1 million to $2.5 million, effective for taxable years beginning January 1, 2011.

Enhances research and development tax credit for small businesses from 3.25% to 5% of qualified expenses, and increases the small business revenue threshold for R&D credit eligibility from $1 million to $2.5 million, effective for taxable years beginning January 1, 2011.

Establishes new gain exclusion provisions for qualified business investments allowing individuals to exclude capital gains from the sale of qualified securities, with recapture of previously claimed tax credits if gain is excluded, effective for taxable years beginning January 1, 2011.

Extends the sunset date for tax incentives related to qualified business investments from January 1, 2013 to January 1, 2016.

Authorizes informal competitive bidding procedures for state repair and renovation projects costing $2 million or less, with preference given to Resident Small Contractors with less than $10 million in annual revenue, effective July 1, 2011.