Introduced Senate Bill (S)

Authored by

DIGEST

Personal property taxes and state tax credits. Provides that business personal property acquired after June 30, 2014, is exempt from property assessment and taxation. Provides a state income tax credit for property taxes paid on business personal property. Specifies that the credit percentage is 10% for taxable years beginning in 2015, and that the credit percentage increases for a year in an increment of 10% if state general fund revenue collections grew during the preceding state fiscal year. Personal property taxes and state tax credits. Provides that business personal property acquired after June 30, 2014, is exempt from property assessment and taxation. Provides a state income tax credit for property taxes paid on business personal property. Specifies that the credit percentage is 10% for taxable years beginning in 2015, and that the credit percentage increases for a year in an increment of 10% if state general fund revenue collections grew during the preceding state fiscal year.