North Carolina 2025 Session Status: In Committee 4 D cosponsors

SB 521 — Community Infra. and Resilience Tax Credit.

Last action — Passed 1st Reading

  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill is in committee in the Senate. Introduced March 25, 2025. It must pass committee before a floor vote.

Next likely step: a committee vote, then a floor vote in the Senate.

Odds of enactment

Low chance

Based on the sponsor, cosponsors, and committee posture, this bill has a low chance of becoming law.

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A statistical estimate from our own model of past outcomes — an insight, not a guarantee. Policymaking is volatile.

Prognosis

Stalled 22% · moderate confidence

  • In Committee

    Current position in the legislative process.

  • 4 sponsors

    2 primary, 2 co-sponsors signed on.

  • Single-party support

    Sponsorship is currently within one party (4 D).

Based on stage, sponsorship breadth, committee status, recorded votes, and cross-state momentum — a description of the observable signals, not a prediction.

Bill Text

What changed in the latest version

22 added · 23 removed

Plain-language change summary

The amendment to Senate Bill 521 includes the addition of a specific requirement for businesses to provide the Secretary with detailed information about temporary jobs created and the average wages paid for those positions. Additionally, a limit of five million dollars is emphasized for the total tax credits available to all taxpayers within a single taxable year. This change is important because it aims to ensure transparency and accountability regarding job creation and helps cap the amount of tax credits that businesses can claim, which may affect state revenues.

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FILED SENATE GENERAL ASSEMBLY OF NORTH CAROLINA Mar 25, 2025 S.B.
GENERAL ASSEMBLY OF NORTH CAROLINA SESSION 2025 S 1 SENATE BILL 521 Short Title:
521 SESSION 2025 PRINCIPAL CLERK S D SENATE BILL DRS15213-NIf-87 Short Title:
A BILL TO BE ENTITLED AN ACT TO CREATE THE QUALIFIED INVESTMENT ENTITY TAX CREDIT.
Rules and Operations of the Senate March 26, 2025 A BILL TO BE ENTITLED AN ACT TO CREATE THE QUALIFIED INVESTMENT ENTITY TAX CREDIT.
(5) Qualifiedinvestment.–Aninvestmentofcashbyaqualifiedinvestmententity in an eligible business inexchange for common or preferred stock or an equity interest or a purchase for cash of subordinated debt in an eligible business.
(5) Qualifiedinvestment.–Aninvestmentofcashbyaqualifiedinvestmententity in an eligible business in exchange for common or preferred stock or an equity interest or a purchase for cash of subordinated debt in an eligible business.
– A registered business that (i) is a pass-through entity, (ii) is an accredited investor, (iii) makes qualified investments, and (iv) *DRS15213-NIf-87* General Assembly Of North Carolina Session 2025 is formed solely for investment purposes and does not engage in traditional non-investment business operations.
– A registered business that (i) is a pass-through entity, (ii) is an accredited investor, (iii) makes qualified investments, and (iv) *S521-v-1* General Assembly Of North Carolina Session 2025 is formed solely for investment purposes and does not engage in traditional non-investment business operations.
(7) Registeredorregistration.–AbusinessthathasbeencertifiedbytheSecretary as an eligible business at the time of application to the Secretary.
(7) Registeredorregistration.
–AbusinessthathasbeencertifiedbytheSecretary as an eligible business at the time of application to the Secretary.
– A qualified investment entity is entitledtoanonrefundableincome taxcredit of thirty-five percent (35%) of its qualified investment made pursuant to this section.
– Aqualified investment entityis entitledto anonrefundableincome tax credit of thirty-five percent (35%) of its qualified investment made pursuant to this section.
Fifty percent (50%)oftheallowedcreditmaybeappliedtothe qualifiedinvestmententity'snetincome tax liability in the tax year during which the qualified investment is made, and the remainder may be applied to the qualified investment entity's net income tax liability in the tax years after the qualified investment is made and may be carried forward for a period not to exceed 10 years.
Fifty percent (50%)oftheallowedcreditmaybeappliedtothe qualifiedinvestmententity's netincome tax liabilityin the tax year during which the qualified investment is made, and the remainder may be applied to the qualified investment entity's net income tax liability in the tax years after the qualified investment is made and may be carried forward for a period not to exceed 10 years.
– Each individual who is a shareholder, partner, or member of the qualified investment entity must be allocated the credit allowed the entity in an amount determined in the same manner as the proportionate shares of income or loss of such entity would be determined.
– Each individual who is a shareholder, partner, or member of the qualified investment entity must be allocated the credit allowed the entity in an amount determined in the same manner as the proportionate shares of income or loss of such entitywould be determined.
(1) The total amount of credits allowed pursuant to this section may not exceed in the aggregate five million dollars ($5,000,000) for all taxpayers for any one calendar year.
(1) The total amount of credits allowed pursuant to this section may not exceed in the aggregate five million dollars ($5,000,000) for all taxpayers for anyone calendar year.
(2) The aggregate amount of credit allowed an individual for one or more qualified investments in asingletaxableyearunder this section,whethermade directly or by a pass-through entity and allocated to an individual, shall not exceed one hundred thousand dollars ($100,000), not including any carryforward credits.
(2) The aggregate amount of credit allowed an individual for one or more qualified investments in asingletaxable yearunder this section, whethermade directly or by a pass-through entity and allocated to an individual, shall not exceed one hundred thousand dollars ($100,000), not including any carryforward credits.
In this case, the eligible business shall provide the Secretary with written notice of the merger, conversion, consolidation, or similar transaction and other information required by the Secretary.
In this case, the eligible business shall provide the Secretarywith written notice of the merger, conversion, consolidation, or similar transaction and other information required by the Secretary.
the Page 2 DRS15213-NIf-87 General Assembly Of North Carolina Session 2025 location of its headquarters;
the Page 2 Senate Bill 521-First Edition General Assembly Of North Carolina Session 2025 location of its headquarters;
the number of full-time, part-time, and temporary jobs created by the businesses;
the number of full-time, part-time, and temporaryjobs created bythe businesses;
– A qualified investment entity seeking to claim a tax credit provided for underthissectionshallsubmitanapplicationtotheDepartmentofRevenuefortentativeapproval for the tax credit in the year for which the tax credit is claimed or allowed.
– A qualified investment entityseekingto claim a tax credit provided for underthissectionshallsubmitanapplicationtotheDepartmentofRevenuefortentativeapproval for the tax credit in the year for which the tax credit is claimed or allowed.
If the credit amounts on the tax credit applications filed with the Department of Revenue exceed the maximum aggregate limit of tax credits, then the tax credit must be allocated among the qualified investment entities who filed a timely application on a first come, first served basis based upon the amounts otherwise allowed by this section.
If the credit amounts on the tax credit applications filed with the Department of Revenue exceed the maximum aggregate limit of tax credits, then the tax credit must be allocated among the qualified investment entities who filed a timely application on a first come, first served basis based upon the amounts otherwise allowed bythis section.
Once the tax credit application has been approved and theamount has been communicatedto the applicant, the qualified investment entity thenmay apply the amount of the approved tax credit to its tax liability for the tax year of which the approved application applies.
Once the tax credit application has been approved and theamount has been communicatedto the applicant, the qualified investment entitythen may apply the amount of the approved tax credit to its tax liability for the tax year of which the approved application applies.
DRS15213-NIf-87 Page 3
Senate Bill 521-First Edition Page 3
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Action History

  1. Passed 1st Reading

  2. Ref To Com On Rules and Operations of the Senate

  3. Filed

Sponsors

Sponsorship breakdown

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2 sponsors · 2 co-sponsors · 175 not signed on

Sponsors (2)

Co-sponsors (2)

Not signed on (175)

175 members have not signed on to this bill.

Show all 175 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

public-safety taxation
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Frequently asked questions

Who sponsors SB 521?
SB 521 is sponsored by Joyce Waddell (Democratic), Michael Garrett (Democratic), DeAndrea Salvador (Democratic), and Caleb Theodros (Democratic).
What is the current status of SB 521?
This bill is in committee in the Senate. Introduced March 25, 2025. It must pass committee before a floor vote.
Where can I track SB 521?
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