| SB 0836 | Creates a tax credit program for certain railroad ad valorem property tax |
| Sponsor: | Caskey | |||
| LR Number: | 2801S.01I | Fiscal Note: | 2801-01 | |
| Committee: | Ways and Means | |||
| Last Action: | 01/27/04 - SCS Voted Do Pass S Ways & Means Committee 2801S.02C | Journal page: | ||
| Title: | ||||
| Effective Date: | August 28, 2004 | |||
SCS/SB 836 - This act creates a tax credit against the
private car ad valorem tax. The act enables a freight line
company to have a credit equal to the amount of eligible expenses
incurred during the immediately preceding calendar year against
this tax. The term "eligible expenses" is defined as those
incurred in the state to maintain to improve a freight line
company's qualified rolling stock. The act requires the state to
reimburse any political subdivision which experience a loss of
revenue due to the provisions of the act.
JEFF CRAVER