NC H930

Permits taxpayers to redeem carryforward amounts of renewable energy property credits at 90% of the carryforward value in a taxable year, subject to the 50% tax liability cap.

Allows carryforward redemption only when the redeemed amount plus other credits does not exceed the tax against which credits are claimed, reduced by other credits and excluding taxpayer payments.

Enables taxpayers to allocate renewable energy property credits to other business entities according to agreements between the taxpayer and business entity, notwithstanding other allocation restrictions.

Clarifies that the 50% credit limitation applies to cumulative credits including only non-redeemed carryforwards, with any unused portions carried forward for up to five succeeding years.

Becomes effective upon enactment.