Introduced House Bill (H)

Authored by

DIGEST

Tax incentives and reporting. Authorizes the department of local government finance to incorporate by reference in an administrative rule certain formatting, coding, and transmission requirements for data that must be submitted by counties. Provides that a property owner is not entitled to the residential rehabilitation deduction for an increase in assessed value attributable to rehabilitation occurring after December 31, 2016. Provides that a property owner is not entitled to the rehabilitated property deduction for an increase in assessed value attributable to rehabilitation occurring after December 31, 2016. Provides that the state tax credit for contributions to the twenty-first century scholars Tax incentives and reporting. Authorizes the department of local government finance to incorporate by reference in an administrative rule certain formatting, coding, and transmission requirements for data that must be submitted by counties. Provides that a property owner is not entitled to the residential rehabilitation deduction for an increase in assessed value attributable to rehabilitation occurring after December 31, 2016. Provides that a property owner is not entitled to the rehabilitated property deduction for an increase in assessed value attributable to rehabilitation occurring after December 31, 2016. Provides that the state tax credit for contributions to the twenty-first century scholars program support fund may not be claimed for contributions made after December 31, 2016. Provides that for purposes of the residential historic rehabilitation tax credit: (1) qualified expenditures do not include expenditures made after December 31, 2016; and (2) a taxpayer may not claim the credit for an expenditure made after December 31, 2016. Specifies additional information that must be reported by each redevelopment commission to the unit's executive and fiscal body and to the department of local government finance. ... View more