SB0492 Summary

• Extends the personal property tax replacement income tax credit for investments in qualified property from a December 31, 2018 expiration date to December 31, 2025.

• Allows the investment credit to apply to costs incurred on or after the bill's effective date and on or before December 31, 2025, including costs from binding contracts entered into during this period.

• Maintains existing provisions that exclude costs incurred between December 31, 2018 and the bill's effective date, except for costs from binding contracts entered into on or before December 31, 2018.

• Takes effect immediately upon becoming law.