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HB20-1305

Crop And Livestock Contribution Tax Credit

Concerning the repeal of the income tax credit for corporate crop and livestock contributions.
Session:
2020 Regular Session
Subject:
Fiscal Policy & Taxes
Bill Summary

Under current law, the income tax credit for corporate crop and livestock contributions allows agricultural C corporations to claim an income tax credit of 25% of the value of the charitable crop or livestock contributions they make in a tax year, up to a maximum of $1,000. The bill eliminates the tax credit.


(Note: This summary applies to this bill as introduced.)

Status

Introduced
Lost

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Bill Text

Sponsors

Sponsor Type Legislators
Prime Sponsor

Rep. A. Benavidez, Rep. M. Snyder

Sponsor

Co-sponsor

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