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Senate committee hears SB 575 to create tax credits for private tire-remediation donations; no vote taken
Summary
Sen. Larry Teague introduced SB 575 to authorize private donations and tax credits for environmental cleanup of tire piles. DFA testified the bill would cap credits at $2 million per year and run as a pilot through Dec. 31, 2023; the committee took no vote because of the revenue impact.
Senator Larry Teague introduced Senate Bill 575 to the Senate Revenue and Tax Committee, saying the measure would create tax credits to encourage private funding for environmental remediation projects focused on tire removal. "So this bill sets up some private funding for the remedial, activities, I think specifically tire tires," Teague said when he identified himself for the record as "Larry Teague from Nashville, Dodge County."
Paul Gearing of the Department of Finance and Administration…
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