SB 0836 Creates a tax credit program for certain railroad ad valorem property tax
LR Number:2801S.01I Fiscal Note:2801-01
Committee:Ways and Means
Last Action:01/27/04 - SCS Voted Do Pass S Ways & Means Committee 2801S.02C Journal page:
Effective Date:August 28, 2004
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Current Bill Summary

SCS/SB 836 - 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 act requires the state to reimburse any political subdivision which experience a loss of revenue due to the provisions of the act.