NC S640

Increases the annual tax credit cap for C Corporations donating conservation land interests from $500,000 to $2,000,000 under G.S. 105-130.29, effective for taxable years beginning on or after January 1, 2011.

Maintains the 25% tax credit against corporate income tax for qualified donations of real property interests for conservation purposes including public beach access, wildlife conservation, forestland protection, watershed protection, and historic landscape conservation.

Requires donations to be made in perpetuity to the State, local government, or qualified nonprofit conservation organizations, with certification by the Department of Environment and Natural Resources and professional appraisal documentation.

Establishes a separate $500,000 annual credit cap for a different provision under G.S. 105-130.34, effective for taxable years beginning on or after January 1, 2013.