| SB 0291 | Creates a tax credit program for certain railroad ad valorem property tax |
| Sponsor: | Caskey | |||
| LR Number: | 1124S.01I | Fiscal Note: | 1124-01 | |
| Committee: | Ways and Means | |||
| Last Action: | 02/25/03 - SCS Voted Do Pass S Ways & Means Comm. (1124S.02C) | Journal page: | ||
| Title: | ||||
| Effective Date: | August 28, 2003 | |||
SCS/SB 291 - This act creates a tax credit against the
private car ad valorem tax. The act enables a freight line
company to have a credit equal to the amount of eligible expenses
incurred during the immediately preceding calendar year against
this tax. The term "eligible expenses" is defined as those
incurred in the state to maintain to improve a freight line
company's qualified rolling stock. The state will reimburse any
political subdivision losing revenue as a result of this act.
JEFF CRAVER