Beneficial hardwood management practices; creates a nonrefundable income tax credit. (HB1319)

Introduced By

Progress

✓	Introduced
✓	Passed Committee
✓	Passed House
✓	Passed Senate
☐	Signed by Governor
☐	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