Establishing disaster repair and recovery effort tax credit for taxpayers subject to severance and business privilege tax in certain circumstances

The purpose of this bill is to create a credit against the severance tax to encourage private companies to assist with repair and recovery efforts following disasters in this state. The bill limits the total amount of repair and recovery effort credits which can be certified by the Secretary of the Department of Environmental Protection. The bill requires the Secretary of the Department of Environmental Protection and the Tax Commissioner to propose legislative rules and emergency legislative ru…

Source: OpenStates · fetched April 1, 2026