Bill Text: CA SB1168 | 2015-2016 | Regular Session | Introduced

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Bill Title: The California agricultural capital investment tax credit.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Failed) 2016-11-30 - From committee without further action. [SB1168 Detail]

Download: California-2015-SB1168-Introduced.html

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BILL NUMBER: SB 1168	INTRODUCED
	BILL TEXT


INTRODUCED BY   Senator Cannella

                        FEBRUARY 18, 2016

   An act relating to taxation.


	LEGISLATIVE COUNSEL'S DIGEST


   SB 1168, as introduced, Cannella. The California agricultural
capital investment tax credit.
   The Personal Income Tax Law and the Corporation Tax Law allow
various credits against the taxes imposed by those laws.
   This bill would declare the intent of the Legislature to enact
legislation that would allow an income tax credit under those laws
designed to stimulate capital investment in modernizing California
farms, and would encourage investment in energy efficient technology,
or in equipment and facilities for farm animal housing, feeding,
ventilation, or comfort and well-being.
   Vote: majority. Appropriation: no. Fiscal committee: no.
State-mandated local program: no.


THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:

  SECTION 1.  It is the intent of the Legislature to enact
legislation that would allow an income tax credit under the Personal
Income Tax Law and Corporation Tax Law designed to stimulate capital
investment in modernizing California farms, and would encourage
investment in energy efficient technology, or in equipment and
facilities for farm animal housing, feeding, ventilation, or comfort
and well-being.