2007 -- H 5811

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STATE OF RHODE ISLAND

IN GENERAL ASSEMBLY

JANUARY SESSION, A.D. 2007

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A N A C T

RELATING TO TAXATION -- PERSONAL INCOME TAX

     Introduced By: Representative David A. Segal

     Date Introduced: March 01, 2007

     Referred To: House Finance

It is enacted by the General Assembly as follows:

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     SECTION 1. Chapter 44-30 of the General Laws entitled "Personal Income Tax" is

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hereby amended by adding thereto the following section:

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     44-30-27. Farm to school income tax credit. -- Upon presentation of written

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certification by a local education agency, an individual or entity domiciled in the state for the

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entire tax year, shall be entitled to an income tax credit for the purchase of produce grown in the

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state which shall be furnished or used in connection with that individual's or entity's agreement to

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provide food, services or other products to a local education agency. The income tax credit shall

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be equal to five percent (5%) of the cost of farm products grown or produced in the state. Any

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amount of income tax credit not deductible in the taxable year of certification may not be carried

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over to the following year. The credit may not be applied until all other credits available to the

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taxpayer for that taxable year are applied.

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     SECTION 2. This act shall take effect upon passage.

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EXPLANATION

BY THE LEGISLATIVE COUNCIL

OF

A N A C T

RELATING TO TAXATION -- PERSONAL INCOME TAX

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     This act would give a 5% tax credit for the cost of farm products grown or produced in

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the state and sold to local education agencies in Rhode Island.

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     This act would take effect upon passage.

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