§ 105-130.22. Tax credit for construction of dwelling units for handicapped persons.
§105‑130.22. Tax credit for construction of dwelling units forhandicapped persons.
There is allowed to corporateowners of multifamily rental units located in this State as a credit againstthe tax imposed by this Part, an amount equal to five hundred fifty dollars($550.00) for each dwelling unit constructed by the corporate owner thatconforms to Volume I‑C of the North Carolina Building Code for thetaxable year within which the construction of the dwelling unit is completed.The credit is allowed only for dwelling units completed during the taxable yearthat were required to be built in compliance with Volume I‑C of the NorthCarolina Building Code. If the credit allowed by this section exceeds the taximposed by this Part reduced by all other credits allowed, the excess may becarried forward for the next succeeding year. In order to secure the creditallowed by this section the corporation shall file with its income tax return acopy of the occupancy permit on the face of which is recorded by the buildinginspector the number of units completed during the taxable year that conform toVolume I‑C of the North Carolina Building Code. After recording thenumber of these units on the face of the occupancy permit, the buildinginspector shall promptly forward a copy of the permit to the BuildingAccessibility Section of the Department of Insurance. (1973,c. 910, s. 1; 1979, c. 803, ss. 1, 2; 1981, c. 682, s. 16; 1997‑6, s. 3;1998‑98, s. 69.)