Legislation

Title: Income Tax Credit - Agricultural Land - Diminution in Value of Real Property
Sponsored by: Senator Glassman
Status: In the Senate - Unfavorable Report by Budget and Taxation
Analysis: Fiscal and Policy Note

Synopsis

Allowing a credit against the State income tax for the diminution in value of specified agricultural land resulting from enactment of the Sustainable Growth and Agricultural Preservation Act of 2012 and adoption of specified regulations related to nutrient management; providing for the determination of the amount of the credit; requiring an owner of agricultural land to provide specified information with the owner's tax return in order to claim the credit; and applying the Act to taxable years beginning after December 31, 2013.

Committees

Original:: Budget and Taxation Click to view Recorded Media

Details

Introduced in a prior session as: SB0427 Session: 2013 Regular Session

Bill File Type: Regular

Effective Date(s): July 1, 2014

History

Legislation History
Chamber Senate Calendar Date 1/14/2014 Legislative Date 1/15/2014 Action First Reading Budget and Taxation Proceedings
Chamber Senate Calendar Date 1/16/2014 Legislative Date 1/16/2014 Action Hearing 1/29 at 1:00 p.m. Proceedings
Chamber Senate Calendar Date 1/27/2014 Legislative Date 1/27/2014 Action Hearing cancelled Proceedings
Chamber Senate Calendar Date 1/27/2014 Legislative Date 1/27/2014 Action Hearing 1/29 at 1:45 p.m. Proceedings
Chamber Senate Calendar Date 2/21/2014 Legislative Date 2/24/2014 Action Unfavorable Report by Budget and Taxation Proceedings

Chamber	Calendar Date	Legislative Date	Action
Senate	1/14/2014	1/15/2014	First Reading Budget and Taxation
Senate	1/16/2014	1/16/2014	Hearing 1/29 at 1:00 p.m.
Senate	1/27/2014	1/27/2014	Hearing cancelled
Senate	1/27/2014	1/27/2014	Hearing 1/29 at 1:45 p.m.
Senate	2/21/2014	2/24/2014	Unfavorable Report by Budget and Taxation

Documents

Date Posted	Document Name
1/15/2014	Text - First - Income Tax Credit - Agricultural Land - Diminution in Value of Real Property
2/24/2014	Vote - Senate - Committee - Budget and Taxation

File Code

Subjects

Statutes