SB0137 (CH0351)

Find a 2016 Bill:

2016 Regular Session



Income Tax Credit - Preservation and Conservation Easements

Sponsored by:

Senator Eckardt


Approved by the Governor - Chapter 351

Synopsis:Altering specified provisions of law concerning a credit against the State income tax for specified preservation and conservation easements to allow an individual or a member of a pass-through entity to claim the credit for an easement conveyed to the Department of Natural Resources or specified organizations; requiring the Board of Public Works to approve tax credits on a first-come, first served basis; providing that the total amount of tax credits claimed by members of pass-through entities cannot exceed $200,000 per taxable year; etc.
Analysis:Fiscal and Policy Note (Revised)
All Sponsors:Senator Eckardt
Additional Facts:Cross-filed with: HB0276
Introduced in a prior session as: SB0615 Session: 2015 Regular Session
Bill File Type: Regular
Effective Date(s): July 1, 2016
Budget and Taxation  View Committee HearingWays and Means  View Committee Hearing
Broad Subject(s):Taxes - Income
Narrow Subject(s):Agriculture -see also- Farmland
Business Trusts
Conservation -see also- Soil Conservation
Corporations -see also- Municipal Corps; Public Corps & Inst
Environmental Trust
Historical Matters
Income Tax
Limited Liability Companies
Natural Resources -see also- Conserv; Forest & Park; Wildlds
Natural Resources, Department of
Public Works, Board of
Revenue and Taxes -see also- Dev Fees &Taxes; specific tax
Rules and Regulations
Tax Credits -see also- Circuit Breaker
Statutes:Article - Tax - General

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Explanation of Floor Motions and Actions

October 24, 2017 5:08 P.M.