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House of Representatives
Session of 2013 - 2014 Regular Session


Posted: February 25, 2013 03:41 PM
From: Representative Mark K. Keller
To: All House members
Subject: Natural Gas Farm Equipment Conversion Tax Credit
In the near future, I intend to introduce legislation creating a natural gas farm equipment conversion tax credit. This bill will offer owners of farm equipment a tax credit against the difference between the increased cost of purchasing new natural gas-powered farm equipment and the cost of diesel- or gasoline-powered farm equipment. In addition, it allows for the same credit to be taken against the cost of retro-fitting farm equipment to operate on natural gas.

The bill will require the farm equipment be directly used in farming, dairying, or agriculture when engaged as a business enterprise and caps the amount of tax credit certificates offered at $25 million in any given fiscal year.

Introduced as HB1015