Legislative Affairs
Tax Incentives & Finance
Requires the department of taxation to evaluate certain tax credits, exclusions, and exemptions and report to the legislature. Effective 7/1/50
Prohibits recipients of federal grants from qualifying for state tax credits.
Requires a renewable energy technology system to be placed in service prior to January 1, 2017, to be eligible for the renewable energy tax credit. Delays the beginning of the payout for tax credits claimed in 2012 to July 1, 2013. Requires tax credits to be claimed in the taxable year that is two years following the taxable year in which the cost was incurred Requires Department of Business, Economic Development and Tourism to complete an assessment on the effectiveness and ongoing need for the tax credit.
Reduces certain allowable tax credits for taxable years beginning on or after 1/1/11, and ending before 1/1/16. Imposes a temporary tax ceiling for certain tax credits.
Repeals income, general excise, and other certain tax credits and exclusions, with certain exemptions.
Establishes an excise tax on direct broadcast satellite service providers. Modifies the renewable energy technologies income tax credit. Repeals the income tax exemption for stocks and stock options from a qualified high technology business. Effective July 1, 2011.
Changes the tax on a barrel of petroleum to an unspecified amount. Requires unspecified sums of the environmental response, energy, and food security tax to be deposited into the energy security special fund, the agricultural development and food security special fund, and the special account of the general fund for the climate change task force. Provides for the extension of the climate change task force. Effective 7/1/2050.