SB 770, 3R - NC Farm Act of 2016

This bill includes a section that would extend by two years the state tax credit for constructing renewable energy facilities. Under current law, the state tax credits are scheduled to expire for facilities placed into service on or after Jan. 1, 2017.

Civitas Action opposes crony capitalism such as taxpayer subsidies or targeted tax credits that provide government-granted competitive advantages to specific businesses.
The rest of the bill has far less of an impact and is largely unobjectionable. As long as SB 770 includes the section to extend the renewable energy tax credit, however, Civitas Action believes the bill should be graded as an act to extend crony capitalism. The conservative vote is no.

RCS #895 (44-3)