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Committee approves amendment, reopens reforestation tax-credit program with $250M cap
Summary
The Ways & Means Committee approved an amendment and passed the substitute for Senate Bill 59 to renew the reforestation tax-credit program and raise the aggregate cap to $250 million; the amendment sets application-acceptance and award-notice timing for the Department of Revenue.
The House Ways & Means Committee passed a substitute for Senate Bill 59 and an implementing amendment that reopens a reforestation tax-credit program and raises its aggregate cap to $250 million so applicants affected by recent hurricane damage can be fully served.
Representative Whit Burchett described the substitute as a renewal and expansion of an earlier program and said reopening the application process with a $250 million cap…
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