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2000 SESSION

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HB 1379 Income tax; riparian forest buffers tax credit.

Introduced by: Ward L. Armstrong | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Income tax; riparian forest buffers tax credit. Grants a nonrefundable tax credit to any taxpayer owning forest land who reserves a riparian forest buffer that is at least 50 feet wide, effective for taxable years beginning on and after January 1, 2001. The credit is equal to 50 percent of the fair market value of the timber forest within the forest buffer. The State Forester will determine and certify the fair market value of such timber forest. A "riparian forest buffer" is an area of trees, usually containing shrubs and other vegetation, that is adjacent to a body of water which is managed to maintain the integrity of stream channels and shorelines; to reduce the impact of upland sources of pollution; and to supply food, cover and thermal protection to fish and other wildlife. Incorporated into HB 1306.

FULL TEXT

• 01/24/00  House: Presented & ordered printed 002684612  pdf

HISTORY

• 01/24/00  House: Presented & ordered printed 002684612
• 01/24/00  House: Referred to Committee on Finance
• 01/26/00  House: Assigned to Finance sub-committee: 2
• 02/13/00  House: No action taken by Finance (23-Y 0-N)
• 02/13/00  House: Incorporated in other legislation (HB1306-Bloxom)