NC H1142

Repeals G.S. 105-129.39 relating to historic rehabilitation tax credits.

Increases the minimum qualifying expenses threshold for film production companies from $250,000 to $300,000 to claim a 25% tax credit under G.S. 105-130.47 (corporate income tax).

Increases the minimum qualifying expenses threshold for film production companies from $250,000 to $300,000 to claim a 25% tax credit under G.S. 105-151.29 (individual income tax).

Removes the January 1, 2015 sunset provision from both film production tax credit sections, allowing the credits to continue indefinitely.

Effective upon enactment.