2012 -- H 7070

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LC00160

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STATE OF RHODE ISLAND

IN GENERAL ASSEMBLY

JANUARY SESSION, A.D. 2012

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A N A C T

RELATING TO TAXATION -- PERSONAL INCOME TAX

     Introduced By: Representatives Walsh, Valencia, E Coderre, Naughton, and Handy

     Date Introduced: January 11, 2012

     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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     44-30-28. Tax credit for installation of cisterns. – Any individual or business that

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installs a cistern on their property to collect rainwater for use in their home or business shall be

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entitled to a state income tax credit of ten percent (10%) of the cost of installing the cistern not to

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exceed one thousand dollars ($1,000). Each entity shall be allowed only one tax credit over the

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life of the cistern unless they are replacing an existing cistern with a larger cistern and have not

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received the maximum tax credit of one thousand dollars ($1,000).

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     For purposes of this chapter, a cistern shall be defined as a container holding fifty (50) or

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more gallons of diverted rainwater or snow melt, either above or below ground, which shall be

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covered to prevent anyone from falling into it.

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     SECTION 2. This act shall take effect upon passage.

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LC00160

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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 provide for a state income tax credit of ten percent (10%) of the cost of

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installing a cistern on one's property located in the state.

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     This act would take effect upon passage.

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LC00160

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