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Bill > HB830
HI HB830
HI HB830Relating To The Important Agricultural Land Qualified Agricultural Cost Tax Credit.
summary
Introduced
01/27/2021
01/27/2021
In Committee
01/29/2021
01/29/2021
Crossed Over
Passed
Dead
05/05/2022
05/05/2022
Introduced Session
2021 Regular Session
Bill Summary
Clarifies that a taxpayer can claim the credit in the third taxable year after they apply for the credit, rather than in any taxable year. Extends the time that the department of agriculture may certify the important agricultural land qualified agricultural costs tax credit from 12/31/2021 to 12/31/2030.
AI Summary
This bill clarifies that a taxpayer can claim the important agricultural land qualified agricultural cost tax credit in the third taxable year after they apply for the credit, rather than in any taxable year. It also extends the time that the Department of Agriculture may certify the tax credit from December 31, 2021 to December 31, 2030. The purpose of this extension is to provide additional time for landowners and farmers to claim the tax credit if their agricultural lands are identified as potential important agricultural lands and designated as such by the Land Use Commission.
Committee Categories
Agriculture and Natural Resources
Sponsors (15)
Lynn DeCoite (D)*,
Mark Hashem (D)*,
Troy Hashimoto (D)*,
Linda Ichiyama (D)*,
Jeanné Kapela (D)*,
Nicole Lowen (D)*,
Scot Matayoshi (D)*,
Dee Morikawa (D)*,
Mark Nakashima (D)*,
Richard Onishi (D)*,
Amy Perruso (D)*,
Sean Quinlan (D)*,
David Tarnas (D)*,
Patrick Branco (D),
Angus McKelvey (D),
Last Action
Carried over to 2022 Regular Session. (on 12/10/2021)
Official Document
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