HOUSE BILL 1002

File Code: Taxes - Income

Sponsored By:

Delegates Bartlett, Parrott, Leopold, Glassman, Edwards, DeCarlo, Rzepkowski, Kach, Klausmeier, Donoghue, K. Kelly, Shank, McKee, Hecht, Stull, Walkup, and Boutin

Entitled:

Technology-Based Farm Equipment - Income Tax Subtraction Modification

Synopsis:

Allowing a subtraction modification under the individual and corporate income tax for expenses incurred to purchase and install specified technology-based farm equipment; requiring a taxpayer to file with the taxpayer's income tax return a certification from the Department of Agriculture to qualify for the subtraction; providing that the subtraction modification may be carried over to succeeding taxable years under specified circumstances; and applying the Act to tax years after 1999.

History by Legislative Date

House Action

2/11

First Reading Ways and Means

2/23

Hearing 3/9 at 1:00 p.m.

3/17

Unfavorable Report by Ways and Means

Senate Action

No Action

Sponsored by:

Delegate Joseph R. Bartlett, District 3

Delegate Charles R. Boutin, District 34

Delegate Diane DeCarlo, District 6

Delegate John P. Donoghue, District 2C

Delegate George C. Edwards, District 1A

Delegate Barry Glassman, District 35A

Delegate C. Sue Hecht, District 3

Delegate Wade Kach, District 9A

Delegate Kevin Kelly, District 1B

Delegate Katherine Klausmeier, District 8

Delegate John R. Leopold, District 31

Delegate Robert A. McKee, District 2A

Delegate Joanne S. Parrott, District 35A

Delegate James E. Rzepkowski, District 32

Delegate Christopher B. Shank, District 2B

Delegate Paul S. Stull, District 4A

Delegate Mary Roe Walkup, District 36

Bill indexed under the following Subjects:

AGRICULTURE, DEPARTMENT OF

AGRICULTURE -see also- FARMLAND

COMPUTERS

EQUIPMENT -see also- MOTOR VEHICLE EQUIPMENT

EXEMPTIONS

INCOME TAX

RULES AND REGULATIONS

Bill affects the following Statutes:

Tax - General

( 10-208 , 10-208 , 10-308 , 10-308 )

Documents:

Bill Text: First Reading (PDF), Third Reading, Enrolled

Fiscal Note: Available (PDF)

Amendments: None offered