§ 105-151.1. Credit for construction of dwelling units for handicapped persons.
§105‑151.1. Credit for construction of dwelling units for handicappedpersons.
An owner of multifamily rentalunits located in this State is allowed a credit against the tax imposed by thisPart equal to five hundred fifty dollars ($550.00) for each dwelling unitconstructed by the owner that conforms to Volume I‑C of the NorthCarolina Building Code for the taxable year within which the construction ofthe dwelling unit is completed. The credit is allowed only for dwelling unitscompleted during the taxable year that were required to be built in compliancewith Volume I‑C of the North Carolina Building Code. If the creditallowed by this section exceeds the tax imposed by this Part reduced by allother credits allowed, the excess may be carried forward for the nextsucceeding year. In order to claim the credit allowed by this section, thetaxpayer must file with the income tax return a copy of the occupancy permit onthe face of which is recorded by the building inspector the number of unitscompleted during the taxable year that conform to Volume I‑C of the NorthCarolina Building Code. After recording the number of these units on the faceof the occupancy permit, the building inspector shall promptly forward a copyof the permit to the Building Accessibility Section of the Department ofInsurance. (1973, c. 910, s. 2; 1979, c. 803, ss. 3, 4; 1981, c.682, s. 17; 1989, c. 728, s. 1.6; 1997‑6, s. 4; 1998‑98, s. 69;1998‑100, s. 1.)