North Carolina 2025 Session Status: In Committee 5 D cosponsors

SB 684 — Put Money to Work in Communities Act.

Last action — Passed 1st Reading

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  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.

Prognosis

Stalled 24% · moderate confidence

Where this bill stands today.

Odds of enactment

Low

How often bills like it became law.

  • In Committee

    Current position in the legislative process.

  • 5 sponsors

    2 primary, 3 co-sponsors signed on.

  • Single-party support

    Sponsorship is currently within one party (5 D).

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

Bill Text

What changed in the latest version

28 added · 29 removed

Plain-language change summary

The recent changes to Senate Bill 684 primarily involve clarifications and formatting adjustments, making the language more straightforward and easier to understand. These updates include defining how tax credits related to contributions to community foundations can be claimed and carried forward. This matters because clearer regulations can help taxpayers better navigate the process of claiming these credits, potentially encouraging more donations to community foundations and thereby supporting local charitable efforts.

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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 684 Short Title:
684 SESSION 2025 PRINCIPAL CLERK S D SENATE BILL DRS35216-MC-169 Short Title:
A BILL TO BE ENTITLED AN ACT TO ENACT THE PUT MONEY TO WORK IN COMMUNITIES ACT TO INCREASE AND INCENTIVIZE PHILANTHROPIC INVESTMENT IN ALL 100 COUNTIES BY PROVIDING A TAX CREDIT FOR CHARITABLE GIFTS BY TAXPAYERS TO ENDOWED FUNDS OF COMMUNITY FOUNDATIONS.
Rules and Operations of the Senate March 26, 2025 A BILL TO BE ENTITLED AN ACT TO ENACT THE PUT MONEY TO WORK IN COMMUNITIES ACT TO INCREASE AND INCENTIVIZE PHILANTHROPIC INVESTMENT IN ALL 100 COUNTIES BY PROVIDING A TAX CREDIT FOR CHARITABLE GIFTS BY TAXPAYERS TO ENDOWED FUNDS OF COMMUNITY FOUNDATIONS.
*DRS35216-MC-169* General Assembly Of North Carolina Session 2025 (4) Qualified contribution.
*S684-v-1* General Assembly Of North Carolina Session 2025 (4) Qualified contribution.
– Subject to the limitations in this section, a C Corporation that makes a qualified contribution of at least one thousand dollars ($1,000) to an endowed fund of a qualified community foundation during the taxable year is allowed a credit against the tax imposed by this Part equal to twenty-five percent (25%) of the qualified contribution.
– Subject to the limitations in this section, a C Corporation that makes a qualified contribution of at least one thousand dollars ($1,000) to an endowed fund of a qualified community foundation during the taxable year is allowed a credit against the tax imposed bythis Part equal to twenty-five percent (25%) of the qualified contribution.
The aggregate amount of credit allowed to a corporation in a taxable year under this section for one or more qualified donations made during the taxable year, whether made directly or indirectly as an owner of a pass-throughentity, maynot exceed fifty thousand dollars($50,000).Thecredit maynot betaken for the year in which the donation is made but may be taken for the taxable year beginning during the calendar year in which the application for the credit becomes effective as provided in subsection (c) of this section.
The aggregate amount of credit allowed to a corporation in a taxable year under this section for one or more qualified donations made during the taxable year, whether made directly or indirectly as an owner of a pass-through entity, maynot exceed fiftythousand dollars ($50,000).Thecredit maynot betaken for the year in which the donation is made but maybe taken for the taxable year beginningduring the calendar year in which the application for the credit becomes effective as provided in subsection (c) of this section.
The application must be on a form prescribed by the Secretary and include any information required by the Secretary demonstrating that the qualified contribution has met the conditions for the credit (d) Substantiation.
The application must be on a form prescribed bythe Secretary and include any information required by the Secretary demonstrating that the qualified contribution has met the conditions for the credit (d) Substantiation.
The Secretary may not accept late additional applications permitted under this subsection.
The Secretary maynot accept late additional applications permitted under this subsection.
– The Secretary shall calculate the total amount of credits claimed from applicationstimelyfiled undersubsection(c)ofthissection.
– The Secretary shall calculate the total amount of credits claimed from applicationstimelyfiled undersubsection(c)ofthissection.Ifthetotalamountofcreditsclaimed for qualified contributions made in a calendar year exceeds this maximum amount, the Secretary shall allow a portion of the credits claimed by allocating the maximum amount in credits in proportion to the size of the credit claimed byeach taxpayer.
Ifthetotalamountofcreditsclaimed for qualified contributions made in a calendar year exceeds this maximum amount, the Secretary shall allow a portion of the credits claimed by allocating the maximum amount in credits in proportion to the size of the credit claimed by each taxpayer.
Page 2 DRS35216-MC-169 General Assembly Of North Carolina Session 2025 (h) Carryforward.
Page 2 Senate Bill 684-First Edition General Assembly Of North Carolina Session 2025 (h) Carryforward.
– Any unused portion of a credit allowed in this section may be carried forward for the succeeding five years.
– Anyunused portion of a credit allowed in this section may be carried forward for the succeeding five years.
– An endowment gift to a qualified community foundation foranendowedfundthatqualifies as acharitablegift undersection 170(c) of the Code.
– An endowment gift to a qualified community foundation foranendowedfundthatqualifies as acharitablegiftundersection 170(c) of the Code.
– Subject to the limitations in this section, an individual that makes a qualified contribution of at least one thousand dollars ($1,000) to an endowed fund of a qualified DRS35216-MC-169 Page 3 General Assembly Of North Carolina Session 2025 community foundation during the taxable year is allowed a credit against the tax imposed by this Part equal to twenty-five percent (25%) of the qualified contribution.
– Subject to the limitations in this section, an individual that makes a qualified contribution of at least one thousand dollars ($1,000) to an endowed fund of a qualified Senate Bill 684-First Edition Page 3 General Assembly Of North Carolina Session 2025 community foundation during the taxable year is allowed a credit against the tax imposed bythis Part equal to twenty-five percent (25%) of the qualified contribution.
The application must be on a form prescribed by the Secretary and include any information required by the Secretary demonstrating that the qualified contribution has met the conditions for the credit (d) Substantiation.
The application must be on a form prescribed bythe Secretary and include any information required by the Secretary demonstrating that the qualified contribution has met the conditions for the credit (d) Substantiation.
– An individual claiming a credit under this section must maintain and make available for inspection by the Secretary any records the Secretary considers necessary to determine and verify the amount of the credit to which the individual is entitled.
– An individual claiminga credit under this section must maintain and make available for inspection by the Secretary any records the Secretary considers necessary to determine and verify the amount of the credit to which the individual is entitled.
The Secretary may not accept late additional applications permitted under this subsection.
The Secretary maynot accept late additional applications permitted under this subsection.
– The Secretary shall calculate the total amount of credits claimed from applicationstimelyfiled undersubsection(c)ofthissection.
– The Secretary shall calculate the total amount of credits claimed from applicationstimelyfiled undersubsection(c)ofthissection.Ifthetotalamountofcreditsclaimed for qualified contributions made in a calendar year exceeds this maximum amount, the Secretary shall allow a portion of the credits claimed by allocating the maximum amount in credits in proportion to the size of the credit claimed byeach taxpayer.
Ifthetotalamountofcreditsclaimed for qualified contributions made in a calendar year exceeds this maximum amount, the Secretary shall allow a portion of the credits claimed by allocating the maximum amount in credits in proportion to the size of the credit claimed by each taxpayer.
If a credit claimed under this section is reduced as provided in this subsection, the Secretary shall notifythe corporation of the amount of the reduction of the credit on or before December 31 of the year following the calendar year in which the qualified contribution was made.
If a credit claimed under this section is reduced as provided in this subsection, the Secretary shall notify the corporation of the amount of the reduction of the credit on or before December 31 of the year following the calendar year in which the qualified contribution was made.
– Any unused portion of a credit allowed in this section may be carried forward for the succeeding five years.
– Anyunused portion of a credit allowed in this section may be carried forward for the succeeding five years.
Page 4 DRS35216-MC-169 General Assembly Of North Carolina Session 2025 (k) Report.
Page 4 Senate Bill 684-First Edition General Assembly Of North Carolina Session 2025 (k) Report.
DRS35216-MC-169 Page 5
Senate Bill 684-First Edition Page 5
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How this bill changes current law

2 changes Share ↗

Compared against the N.C. General Statutes as published AI-generated reading aid — verify against the official bill.

The bill adds two new tax credit provisions for charitable contributions to community foundations to existing law.

  • Section 105-130.34A

    § 105-130.34A. Credit to endow qualified community foundations. (a) Purpose, Definitions. ... (7) The total cost to the General Fund of the credits taken.

    This section establishes a tax credit for C Corporations making qualifying donations to endowed funds of community foundations.

  • Section 105-153.12

    § 105-153.12. Credit to endow qualified community foundations. (a) Purpose, Definitions. ... (7) The total cost to the General Fund of the credits taken.

    This section establishes a tax credit for individuals making qualifying donations to endowed funds of community foundations.

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 · 3 co-sponsors · 174 not signed on

Sponsors (2)

Co-sponsors (3)

Not signed on (174)

174 members have not signed on to this bill.

Show all 174 →

"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

taxation
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

Who sponsors SB 684?
SB 684 is sponsored by Joyce Waddell (Democratic), Woodson Bradley (Democratic), Paul A. Lowe, Jr. (Democratic), Sophia Chitlik (Democratic), and Kandie D. Smith (Democratic).
What is the current status of SB 684?
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 684?
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