SB 772 - McKenna, Ryan
Establishes a tax credit for recycling construction waste and directs the Department of Natural Resources to establish and administer construction and demolition waste reduction grants
Bill Details
Sponsor
LR Number
3127S.01I
Title
SB 772
House Handler
N/A
Journal Page
Effective Date
August 28, 2008
Committee
Current Status
Second Read and Referred S Commerce, Energy and the Environment Committee
Quick Links
Amendments
No amendments available
CURRENT BILL SUMMARY
SB 772 - This act creates a tax credit for expenses incurred in recycling construction waste. The credit shall be equal to 75% of the expenses incurred for recycling the construction waste. The tax credit is non-refundable and non-transferrable but may be carried forward up to three subsequent tax years. 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 $1,000,000 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 identical to SCS/SB 220 (2007) and similar to HB 707 (2007).
ERIKA JAQUES