NC H575

Reenacts the tax credit for qualified business investments that was previously repealed, allowing individuals to claim a 25% credit against income tax on equity securities or subordinated debt purchased directly from qualified businesses.

Limits individual tax credits to a maximum of $50,000 per taxable year for all investments made that year, whether direct or indirect ownership through pass-through entities.

Prohibits the credit for any equity securities or subordinated debt purchases where a broker's fee, commission, or similar remuneration is paid to solicit the purchase.

Allows the credit to be claimed in the taxable year beginning during the calendar year the investment application becomes effective, not in the year the investment is actually made.

Extends the sunset date for this tax credit provision from January 1, 2014 to January 1, 2019, and makes the reenactment effective for investments in taxable years beginning on or after January 1, 2015.