2020 Session

Budget Amendments - SB30 (Member Request)

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Chief Patron: Lewis
SB 789: Advanced Recycling and Machinery Income Tax Credit (language only)

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Item 0 #9s



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"Official Revenue Estimates





(This amendment would provide the necessary general fund revenue adjustment associated with SB 789. The bill would expand both the eligibility for, and the value of, the tax credit for recyclable materials processing equipment by increasing the dollar value of the tax credit from 20 percent to 100 percent of the purchase price of qualifying equipment, expanding the credit to include purchases of machinery and equipment used in advanced recycling facilities, making the tax credit refundable and transferable, and extending the sunset date to January 1, 2025. This amendment assumes a general fund revenue reduction of $5.0 million each year. The actual revenue impact has not yet been determined.)