SCS/SB 220 - This act creates a tax credit for recycling construction waste. The credit shall be 75% of the expenses incurred for recycling the construction waste. The Department of Natural Resources shall administer the tax credit program and shall maintain a list of all taxpayers eligible for the tax credit. The total amount of tax credits issued in any year shall not exceed $500,000 and the tax credit program shall sunset after 6 years.
This act also directs the Department of Natural Resources to establish and administer a state-funded grant program for construction and demolition waste reduction.
This act is similar to HB 707 (2007).