Description: Income taxation; provide a credit for investment in enterprises that convert agricultural waste products into energy.
Bill Text: [Introduced]
History of Actions:
|1||01/13 (S) Referred To Finance|
|2||02/23 (S) Died In Committee|
|Effective date||January 1, 2005|
|Vote type required||Three/Fifths|
Principal Author: Clarke
Title: AN ACT TO PROVIDE AN INCOME TAX CREDIT TO TAXPAYERS WHO INVEST IN AN ENTERPRISE THAT CONVERTS AGRICULTURAL WASTE PRODUCTS INTO ENERGY PRODUCTS IN AN AMOUNT EQUAL TO 10% OF THE VALUE OF THE INVESTMENT MADE BY THE TAXPAYER; TO PROVIDE THAT THE TAX CREDIT SHALL NOT EXCEED 50% OF THE AMOUNT OF TAX IMPOSED UPON THE TAXPAYER; TO PROVIDE THAT UNUSED PORTIONS OF THE CREDIT MAY BE CARRIED FORWARD FOR FIVE YEARS; TO LIMIT THE CUMULATIVE AMOUNT OF THE CREDIT THAT MAY BE CLAIMED; AND FOR RELATED PURPOSES.
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