HI HB830

Clarifies that taxpayers can claim the important agricultural land qualified agricultural cost tax credit in the third taxable year after applying to the Department of Agriculture for certification, rather than in any taxable year.

Extends the expiration date for Department of Agriculture certification of the tax credit from December 31, 2021, to December 31, 2030.

Allows taxpayers to continue claiming accumulated but unclaimed certified credits in subsequent taxable years after the certification deadline expires.

Maintains the three-year credit structure with maximum annual amounts of $625,000 (year one at 25% of costs), $250,000 (year two at 15% of costs), and $125,000 (year three at 10% of costs).

Takes effect upon approval.