SB 0372 Authorizes state income tax credit for certain farming practices
LR Number:S1590.02I Fiscal Note:1612-02
Committee:Agriculture, Conservation, Parks & Tourism
Last Action:02/24/99 - Hearing Conducted S Agriculture, Conservation, Parks Journal page:
& Tourism Committee
Effective Date:August 28, 1999
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Current Bill Summary

SB 372 - This act authorizes a state income tax credit equal to twenty dollars per acre which is under a 50-50 type sharecropping agreement, plus ten dollars per "animal unit" as defined by rules of the Department of Natural Resources in effect at the end of the taxable year in which the taxpayer is claiming the credit. The credit is not refundable, may not exceed $2,500 per taxable year, and cannot be taken in more than five consecutive years.