|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