Bill > A02654

This bill amends the tax law to provide a tax credit to certain landowners who allow snowmobile access on their property in the form of a state-funded snowmobile trail. The credit amount is 10 cents per linear foot of the state-funded snowmobile trail, up to a maximum of $750 per year. The credit can be carried over to future tax years or, at the taxpayer's option, received as a refund. The bill applies to taxable years beginning on or after January 1 following the date the bill becomes law, and the Department of Taxation and Finance is authorized to promulgate necessary rules and regulations by the effective date.