GENERAL ASSEMBLY OF NORTH CAROLINA 



SESSION 1999 



S/H 



ERCOO-LC/SGZ-013.01 (4.25) 

 12-MAY-OO EZT / 15:34:23 



ATTENTION; This is a draft and is not ready for introduction. 



Short Title: Nonhazardous Dry-Cleaning Tech. Incentive. (Public; 

 Sponsors : 



Referred to; 



1 A BILL TO BE ENTITLED 



2 AN ACT TO PROVIDE A NEW TAX CREDIT AS AN INCENTIVE FOR INVESTING 



3 IN DRY-CLEANING AND WET-CLEANING EQUIPMENT THAT DOES NOT USE 



4 HAZARDOUS SUBSTANCES AS SOLVENTS, AS RECOMMENDED BY THE 



5 ENVIRONMENTAL REVIEW COMMISSION. 



6 The General Assembly of North Carolina enacts: 



7 Section 1. Article 3B of Chapter 105 of the General 



8 Statutes is amended by adding a new section to read: 



9 " § 105-129. 16C. Credit for investing in dry-cleaning or wet- 



10 cleaning equipment that does not use hazardous substances as 



1 1 solvents . 



12 (a) Credit. -- If a taxpayer that has purchased or leased 



13 qualified dry-cleaning or wet-cleaning equipment places it in 



14 service in this State for commercial purposes during the taxable 



15 year, the taxpayer is allowed a credit equal to thirty-five 



16 percent (35%) of the cost of the equipment. No credit is allowed 



17 under this section to the extent the cost of the equipment was 



18 paid with public funds. A taxpayer that claims any other credit 



19 allowed under this Chapter with respect to qualified dry-cleaning 

 2 or wet-cleaning equipment may not take the credit allowed in this 

 2 1 section with respect to the same equipment. 



