SB990: Income tax, corporate; extends sunset provision for machinery & equipment used in recycling process.

Chief Patron

Sen. Harry Blevins (R-14)

Status

Bill is Dead

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Summary

Income tax credits; machinery and equipment used in recycling process.  Extends the sunset date from January 1, 2007, to January 1, 2015, for the income tax credit for machinery and equipment used to produce goods from recyclable materials. The bill would also make the credit available to individual income taxpayers by way of their ownership in various pass-through entities. Currently, only corporate income taxpayers may claim the credit, and the credit may not be claimed by individual income taxpayers, including those holding an interest in a pass-through entity.

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