Plain English Breakdown
The effective date is mentioned as a purpose of the bill but not specified in the text.
Tax Credits for Forestry Manufacturing Facilities
This law creates various income tax credits specifically for forestry manufacturing facilities.
What This Bill Does
- Provides various income tax credits for forestry manufacturing facilities.
- Sets rules allowing these tax credits to be transferred under certain conditions.
- Requires reporting on the use of these tax credits.
- Defines specific terms used in the law regarding taxes and forestry.
- Repeals any existing laws that conflict with this new legislation.
Who It Names or Affects
- Businesses operating forestry manufacturing facilities
- The state agency responsible for collecting income tax
Limits and Unknowns
- The official text excerpt does not list the specific dollar amounts or percentages for these tax credits.
- The exact date when this law becomes effective is not listed in the provided source material.
- Details on how long these tax credits will last before automatically ending are not included.