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2005 SESSION
HB 1744 Income tax, state & corporate; credit for purchase of equipment for processing recyclable materials.
Introduced by: Lacey E. Putney | all patrons ... notes | add to my profiles | history
SUMMARY AS PASSED HOUSE:
Income tax credit; purchase of machinery and equipment for processing recyclable materials. Extends from 10 years to 20 years the carryover period for individual and corporate income tax credits allowed for the purchase of machinery and equipment for processing recyclable materials. The bill also revives the individual income tax credit for such purposes that expired on January 1, 2004, retroactively to that date. The credit is equal to 10 percent of the purchase price paid for the equipment.
SUMMARY AS INTRODUCED:
Income tax credit; purchase of machinery and equipment for processing recyclable materials. Extends from 10 years to 20 years the carryover period for individual and corporate income tax credits allowed for the purchase of machinery and equipment for processing recyclable materials. The bill also revives the individual income tax credit for such purposes that expired on January 1, 2004, retroactively to that date.