SB0176

Find a 2014 Bill:

2014 Regular Session

 

Entitled:

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


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.
Analysis:Fiscal and Policy Note
All Sponsors:Senator Glassman
Additional Facts:Introduced in a prior session as: SB0427 Session: 2013 Regular Session
Bill File Type: Regular
Effective Date(s): July 1, 2014
Committee(s):
Budget and Taxation   View Committee Hearing
Broad Subject(s):Taxes - Income
Agriculture
Environment
Narrow Subject(s):Agriculture -see also- Farmland
Appraisals
Comptroller
Farmland
Income Tax
Real Property
Rules and Regulations
Tax Credits -see also- Circuit Breaker
Statutes:

How a Bill Becomes Law

Legislative Lingo

Explanation of Floor Motions and Actions


October 24, 2017 1:55 P.M.