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2011 SESSION

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SB 1087 Land preservation tax credits; requires use of licensed transfer agent to transfer to taxpayer.

Introduced by: Emmett W. Hanger, Jr. | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Transfers of land preservation tax credits.  Requires the use of a licensed transfer agent to transfer a land preservation tax credit to a taxpayer who is not an individual. Transfer agents would be licensed by the Department of Taxation. The bill provides licensing requirements for transfer agents. The bill allows the Tax Commissioner to revoke or suspend the license of, or impose a monetary penalty upon, any transfer agent who repeatedly transfers land preservation tax credits that are subsequently disallowed in whole or in part by the Department.  This bill was incorporated into SB 1232.


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