Farmers looking to expand irrigation are one step closer to taking full advantage of Alabama’s existing tax credits. A bill clarifying the law passed the Senate Finance and Taxation Education Committee Wednesday.
HB 260 by Rep. Donnie Chesteen, R-Geneva, specifies farmers may claim the credit for one qualifying irrigation system or reservoir in 2011-2017 and another during 2018-22. Current law caps credit for the 2011-17 program at $10,000 and $50,000 for tax years 2018-22.
The legislation passed the committee 12-0 and awaits final passage in the full Senate. (Federation Supports)