GENERAL ASSEMBLY OF NORTH CAROLINA
SESSION 2001
H	2
HOUSE BILL 146
Committee Substitute Favorable 3/19/01 

Short Title:	Modify Partnership Tax Credit.	()	
Sponsors:	     	
Referred to:	     	
February 19, 2001

A BILL TO BE ENTITLED
AN ACT to modify the pass-through distribution of partnership income tax credits.

The General Assembly of North Carolina enacts:
SECTION 1.  G.S. 105‑269.15(a) reads as rewritten:
"(a)	Pass‑Through of Credit. – A partnership may pass through to each of its partners the partner's distributive share of an income tax credit for which the partnership qualifies. Except as otherwise provided in this Chapter, all limitations on an income tax credit apply to the partnership, except the 	limitation that the credit may not exceed the amount of tax 	or a specific percentage of tax imposed on the taxpayer for the taxable year."
SECTION 2.  This act is effective for taxable years beginning on or after January 1, 2002.