NC H544

Creates a 40% state tax credit for qualified rehabilitation expenditures on eligible corporate campus properties, requiring a minimum investment of $10,000,000

Eligible corporate campuses must be certified historic structures that formerly served as corporate headquarters, located on at least 20 acres, and listed on the National Register of Historic Places

Properties must have been at least 80% vacant for at least two years prior to eligibility certification and be subject to a preservation agreement

Qualified rehabilitation expenditures must be incurred on or after January 1, 2026, with credits available for taxable years beginning on or after that date

Multi-phase projects may claim credits annually based on the expenditures associated with each phase placed into service that year