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2011 SESSION

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SB 1101 Income tax, state & corporate; tax credit for using livestock waste nutrient to produce electricity.

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

SUMMARY AS INTRODUCED:

Income tax credits; electric energy facility producing electricity primarily from agricultural livestock waste nutrients.  Establishes individual and corporate income tax credits for energy property under § 48(a) of the U.S. Internal Revenue Code of 1986, as amended, that is (i) placed in service in the Commonwealth on or after January 1, 2011, and (ii) part of an electric energy facility producing electricity primarily from agricultural livestock waste nutrients.

The amount of the credit would be equal to the amount of the energy credit allowed for the taxable year under § 48 of the U.S. Internal Revenue Code of 1986, as amended, for placing the energy property in service.


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