1999 Regular Session

SENATE BILL 462

File Code: Income Prior Year Introduction As: SB 492/98 - B&T Crossfiled with: HOUSE BILL 528
Sponsored By:
Senators Neall, Dorman, and Ruben
Entitled:
Vehicle Emissions Testing Equipment - State Income Tax Credit

Synopsis:

Allowing a credit against the State income tax for 20% of the costs of equipment placed in service during the taxable year to be used in connection with transient mass-emission repair or testing; allowing unused tax credits to be carried forward for 5 taxable years; applying the Act to tax years after 1997 for equipment placed in service after 1997; and requiring the Department of the Environment to prepare and publish a list of equipment that complies with the requirements of the tax credit on or before December 31, 1999.

History by Legislative Date

Senate Action
2/5
First Reading Budget and Taxation
2/10
Hearing 2/24 at 1:30 p.m.
House Action
No Action
Sponsored by:
Senator Robert R. Neall, District 33
Senator Arthur Dorman, District 21
Senator Ida G. Ruben, District 20
Bill indexed under the following Subjects:
AUTOMOTIVE REPAIR
ENVIRONMENT, DEPARTMENT OF
ENVIRONMENTAL MATTERS -see also- NAT. RESOURCES; POLLUTION
EQUIPMENT -see also- MOTOR VEHICLE EQUIPMENT
INCOME TAX
MOTOR VEHICLE INSPECTION
POLLUTION -see also- SEDIMENT CONTROL
TAX CREDITS -see also- CIRCUIT BREAKER
Bill affects the following Statute:
Tax - General
( 10-712 )

Documents:

Bill Text: First Reading (PDF), Third Reading, Enrolled
Fiscal Note: Available (PDF)

Amendments: None offered