HB 2268 Summary

• Repeals section 43-1081.01 (agricultural pollution control equipment tax credit) effective for taxable years beginning after December 31, 2022.

• Amends section 43-1084 to require agricultural water conservation system tax credit claimants to report water usage reductions to the department by March 1 annually, and requires the department to report findings to the joint legislative committee by May 1 annually.

• Modifies section 41-1512 to add annual reporting requirements for qualified facilities, including reporting employee hiring and capital expenditures to the authority by March 1, and requiring the authority to report this data to the joint legislative budget committee by May 1.

• Amends section 43-222 to remove section 43-1081.01 from the income tax credit review schedule for years ending in 4 and 9.

• Adds conforming amendments to section 43-1021 to reflect the repeal of the agricultural pollution control equipment credit and modify provisions related to depreciation and basis adjustments.