Beneficial hardwood management practices; creates a nonrefundable income tax credit. (HB1319)
Introduced By
Progress
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Introduced |
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Passed Committee |
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Passed House |
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Passed Senate |
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Signed by Governor |
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Became Law |
Description
Beneficial hardwood management practices. Creates a nonrefundable income tax credit for taxable years 2022 through 2026 for expenses incurred by a taxpayer for the implementation of beneficial hardwood management practices. The credit equals the lesser of the actual expenses or $1,000. The bill requires the Tax Commissioner, in coordination with the State Forester, to establish guidelines for claiming the credit and provides that any unused credit may be carried forward by the taxpayer for five taxable years following the taxable year for which the credit was issued. The credit is subject to an aggregate annual cap of $1 million that will be administered by the Department of Forestry on a first-come, first-served basis. Read the Bill »
Status
03/02/2022: Passed the Senate
History
Date | Action |
---|---|
01/21/2022 | Committee |
01/21/2022 | Presented and ordered printed 22101516D |
01/21/2022 | Referred to Committee on Finance |
01/27/2022 | Assigned Finance sub: Subcommittee #1 |
01/30/2022 | Impact statement from TAX (HB1319) |
01/31/2022 | Subcommittee recommends reporting with amendments (8-Y 1-N) |
01/31/2022 | Subcommittee recommends referring to Committee on Appropriations |
02/02/2022 | House committee, floor amendments and substitutes offered |
02/02/2022 | Reported from Finance with amendment(s) (18-Y 3-N) (see vote tally) |
02/02/2022 | Referred to Committee on Appropriations |
02/03/2022 | Assigned App. sub: Commerce Agriculture & Natural Resources |
02/09/2022 | Subcommittee recommends reporting (7-Y 0-N) |
02/09/2022 | Reported from Appropriations (21-Y 0-N) (see vote tally) |
02/11/2022 | Read first time |
02/14/2022 | Read second time |
02/14/2022 | Committee amendment agreed to |
02/14/2022 | Engrossed by House as amended HB1319E |
02/14/2022 | Printed as engrossed 22101516D-E |
02/15/2022 | Read third time and passed House (91-Y 7-N 2-A) |
02/15/2022 | VOTE: Passage (91-Y 7-N 2-A) (see vote tally) |
02/16/2022 | Constitutional reading dispensed |
02/16/2022 | Referred to Committee on Finance and Appropriations |
02/23/2022 | Impact statement from TAX (HB1319E) |
03/01/2022 | Reported from Finance and Appropriations with amendments (14-Y 2-N) (see vote tally) |
03/02/2022 | Constitutional reading dispensed (40-Y 0-N) (see vote tally) |
03/02/2022 | Read third time |
03/02/2022 | Reading of amendments waived |
03/02/2022 | Committee amendments agreed to |
03/02/2022 | Engrossed by Senate as amended |
03/02/2022 | Passed Senate with amendments (38-Y 2-N) (see vote tally) |
03/02/2022 | Senate amendments rejected by House (0-Y 99-N) |
03/02/2022 | VOTE: Rejected (0-Y 99-N) (see vote tally) |
03/02/2022 | Senate insisted on amendments (39-Y 0-N) (see vote tally) |
03/02/2022 | Senate requested conference committee |
03/02/2022 | House acceded to request |
03/02/2022 | Conferees appointed by House |
03/02/2022 | Delegates: Adams, L.R., Byron, Sullivan |
03/02/2022 | Conferees appointed by Senate |
03/02/2022 | Senators: Deeds, Ruff, Vogel |
03/12/2022 | Continued to 2022 Sp. Sess. pursuant to HJR 455 |
03/12/2022 | Continued to 2022 Sp. Sess. 1 pursuant to HJR455 |
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