HB 731 -- Income Tax Credit for Dry Fire Hydrants

Sponsor:  Selby

This bill authorizes an income tax credit for purchases of
certain dry fire hydrants or for providing certain acceptable
means of water storage for certain dry fire hydrants.

The credit will be 50% of the costs or in-kind contributions not
to exceed $10,000.  Any unused credit may be carried forward to
future tax years or may be assigned to a third party.

The taxpayer must apply to the State Fire Marshall for
authorization of the credit.  Minimum requirements for this
authorization are included in the bill.

Total state-wide tax credits are limited to $10 million per
fiscal year.