NC S329

Extends the tax credit for renewable energy property by changing the sunset date from January 1, 2016 to January 1, 2020.

Allows taxpayers a credit equal to 35% of the cost of renewable energy property placed in service in North Carolina, with nonbusiness property claimed in one year and business property claimed in five equal installments.

Maintains existing credit ceilings including $2,500,000 for business installations, $1,400-$10,500 for residential installations depending on type, and $5,000,000 for eco-industrial parks.

Prevents double credits and requires lessors to certify they will not claim credits for leased property.

Takes effect when signed into law.