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Committee adopts transferability for water‑related tax credits, effective 2020
Summary
Senate Bill 6‑29 was amended and approved to limit changes to making certain water‑related tax credits transferable and to move implementation to 2020 to allow rules and regulations. The committee heard estimates of about $587,000–$600,000 per year as the fiscal impact of transferability.
The Senate Revenue & Tax Committee on Thursday amended and approved Senate Bill 6‑29 to allow transferability of certain water‑related tax credits and to delay implementation to 2020 to permit rulemaking.
Under the amended text, provisions that would have increased credit amounts or extended the period for use were removed and the bill was…
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