Income tax; credit for electric energy facility producing electricity from livestock waste nutrient. (HB1341)

Introduced By

Del. Todd Gilbert (R-Woodstock)

Description

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 on or January 1, 2010, in any county or city that has a current five-year annual average unemployment rate of at least 11 percent, and (ii) part of an electric energy facility producing electricity primarily from agricultural livestock waste nutrients in such county or city.

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 such energy property in service. Read the Bill »

Outcome

History