| SB 0372 | Authorizes state income tax credit for certain farming practices |
| Sponsor: | Graves | |||
| LR Number: | S1590.02I | Fiscal Note: | 1612-02 | |
| Committee: | Agriculture, Conservation, Parks & Tourism | |||
| Last Action: | 02/24/99 - Hearing Conducted S Agriculture, Conservation, Parks | Journal page: | ||
| & Tourism Committee | ||||
| Title: | ||||
| Effective Date: | August 28, 1999 | |||
SB 372 - This act authorizes a state income tax credit equal
to twenty dollars per acre which is under a 50-50 type
sharecropping agreement, plus ten dollars per "animal unit" as
defined by rules of the Department of Natural Resources in effect
at the end of the taxable year in which the taxpayer is claiming
the credit. The credit is not refundable, may not exceed $2,500
per taxable year, and cannot be taken in more than five
consecutive years.
RUSS HEMBREE