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- Subject Index: Since 1995
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2015 SESSION
SB 1205 Recyclable materials; changes tax credit by extending expiration date to January 1, 2020.
Introduced by: Frank W. Wagner | all patrons ... notes | add to my profiles
SUMMARY AS PASSED SENATE: (all summaries)
Recyclable materials tax credit. Changes the recyclable materials tax credit by (i) extending the expiration date of the credit by five years to January 1, 2020, (ii) increasing the credit allowed from 10 to 20 percent of the purchase price of qualifying machinery and equipment, (iii) prohibiting denial of the credit based solely on another person's use of tangible personal property produced by the credit applicant from recyclable materials, (iv) clarifying that no credit will be allowed for machinery and equipment that does not manufacture, process, compound, or produce items of tangible personal property from recyclable materials, and (v) establishing an annual cap of $2 million in recyclable materials tax credits that may be issued by the Department of Taxation. The provisions of the bill are effective for taxable years beginning on or after January 1, 2015. This bill is identical to HB 1554.
FULL TEXT
- 01/13/15 Senate: Prefiled and ordered printed; offered 01/14/15 15101974D pdf | impact statement
- 01/28/15 Senate: Committee substitute printed 15104123D-S1 pdf | impact statement
- 02/17/15 Senate: Bill text as passed Senate and House (SB1205ER) pdf | impact statement
- 03/10/15 Governor: Acts of Assembly Chapter text (CHAP0094) pdf
HISTORY
- 01/13/15 Senate: Prefiled and ordered printed; offered 01/14/15 15101974D
- 01/13/15 Senate: Referred to Committee on Finance
- 01/28/15 Senate: Reported from Finance with substitute (14-Y 0-N)
- 01/28/15 Senate: Committee substitute printed 15104123D-S1
- 01/29/15 Senate: Constitutional reading dispensed (39-Y 0-N)
- 01/30/15 Senate: Read second time
- 01/30/15 Senate: Reading of substitute waived
- 01/30/15 Senate: Committee substitute agreed to 15104123D-S1
- 01/30/15 Senate: Engrossed by Senate - committee substitute SB1205S1
- 02/02/15 Senate: Read third time and passed Senate (37-Y 0-N)
- 02/02/15 Senate: Reconsideration of passage agreed to by Senate (37-Y 0-N)
- 02/02/15 Senate: Passed Senate (38-Y 0-N)
- 02/06/15 House: Placed on Calendar
- 02/06/15 House: Read first time
- 02/06/15 House: Referred to Committee on Finance
- 02/11/15 House: Reported from Finance (20-Y 1-N)
- 02/12/15 House: Read second time
- 02/13/15 House: Read third time
- 02/13/15 House: Passed House (94-Y 2-N)
- 02/13/15 House: VOTE: PASSAGE (94-Y 2-N)
- 02/17/15 Senate: Enrolled
- 02/17/15 Senate: Bill text as passed Senate and House (SB1205ER)
- 02/17/15 House: Signed by Speaker
- 02/20/15 Senate: Signed by President
- 02/23/15 Senate: Enrolled Bill Communicated to Governor on 2/23/15
- 02/23/15 Governor: Governor's Action Deadline Midnight, Sunday, March 29, 2015
- 03/10/15 Governor: Approved by Governor-Chapter 94 (effective 1/1/15)
- 03/10/15 Governor: Acts of Assembly Chapter text (CHAP0094)