Personal Income Tax Law: credit: fuel management activities.

The Personal Income Tax Law allows various credits against the taxes imposed by that law. This bill, for taxable years beginning on or after January 1, 2016, would allow a credit under that law in an amount equal to the qualified costs, as defined, paid or incurred by a qualified taxpayer, not to exceed a specified amount, during the taxable year for fuel management activities, as defined, performed on qualified real property owned by the qualified taxpayer. This bill would take effect immediately as a tax levy.