2013 Regular Session



Income Tax Credit - Agricultural Land - Diminution in Value of Real Property

Sponsored by:

Senator Glassman


In the Senate - Hearing 2/20 at 1:00 p.m.

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, 2012.
Analysis:Fiscal and Policy Note
All Sponsors:Senators Glassman, Colburn, Dyson, Edwards, Garagiola, Getty, Jacobs, Kittleman, Klausmeier, Mathias, Middleton, and Shank
Additional Facts:Cross-filed with: HB0796
Bill File Type: Regular
Effective Date(s): July 1, 2013
Budget and Taxation  Listen to Committee Hearing
Broad Subject(s):Taxes - Income
Narrow Subject(s):Agriculture -see also- Farmland
Income Tax
Real Property
Rules and Regulations
Tax Credits -see also- Circuit Breaker
Statutes:Article - Tax - General

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October 24, 2017 1:08 P.M.