Irrigation Credit Bill One Step Closer to Passage
Irrigation Credit Bill One Step Closer to Passage
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)