NC H852

Allows taxpayers rehabilitating certified historic structures in North Carolina to claim a state income tax credit equal to 15% of qualified rehabilitation expenditures up to $10 million, and 10% for expenditures between $10-20 million.

Provides an additional 5% education bonus credit on qualified rehabilitation expenditures up to $20 million if the historic structure was originally used for educational purposes, is placed into service for educational use after rehabilitation, and remains used for educational purposes each year the credit is claimed.

Permits proportionate bonus calculation for structures used for multiple purposes based on the percentage of space dedicated to educational use.

Adds "educational purpose" as a defined term in the tax code, referencing G.S. 105-278.4 for its definition.

Effective for taxable years beginning on or after January 1, 2019.