Rep. Setzer files bill in North Carolina House to create corporate campus rehabilitation credit

A new bill filed by State Rep. Mitchell S. Setzer seeks to provide tax incentives for the rehabilitation of certified historic corporate campuses that have been largely vacant, according to the North Carolina State House.

The bill, filed as HB 544 on March 26 during the 2025 regular session, was formally listed with the short title: ‘Tax Credit for Rehab. Corp. Campus.’

The following is our breakdown, based on the actual bill text, and may include interpretation to clarify its provisions.

In essence, this bill establishes a corporate campus rehabilitation credit, allowing taxpayers a credit equal to 40% of qualified rehabilitation expenditures when spending at least $10 million on eligible corporate campuses. To qualify, campuses must be certified historic structures located on at least 20 acres, have served as corporate headquarters, be listed on the National Register of Historic Places, and be at least 80% vacant for two years prior to certification. Credits apply to expenditures incurred after Jan. 1, 2026, and can be claimed per phase of site rehabilitation. The bill takes effect for taxable years starting on or after Jan. 1, 2026.

Of the three sponsors of this bill, Setzer proposed the most bills (23) during the 2025 regular session.

Bills in North Carolina follow a multi-step process before becoming law. A lawmaker starts by filing a bill, which is assigned to a committee for review. The bill must be read three times in each chamber. If one chamber changes the bill after the other passes it, both must agree on the final version. Once both chambers approve the same bill, it goes to the governor, who has 10 days (or 30 if the legislature is not in session) to sign, veto, or let it become law without a signature.

You can read more about the bills and other measures here.

Setzer graduated from the University of North Carolina, Greensboro in 1987 with a BA.

Setzer, a Republican, was elected to the North Carolina State House in 1999 to represent the state’s 89th House district, replacing previous state representative Robert Brawley.