3884                                                      VETOES

generally relating to a State income tax subtraction
modification for certain individuals and corporations for
certain conservation tillage equipment expenses.

BY repealing and reenacting, with amendments,

Article 81 - Revenue and Taxes

Section 280(c)(17) and (18) and 280A(c)

Annotated Code of Maryland

(1980 Replacement Volume and 1985 Supplement)

BY adding to

Article 81 - Revenue and Taxes

Section 280(c)(19) and 280E

Annotated Code of Maryland

(1980 Replacement Volume and 1985 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Article 81 - Revenue and Taxes

291B.

(A) IN THIS SECTION:

(1) "CONSERVATION TILLAGE EQUIPMENT" MEANS A PLANTER
OR DRILL THAT:

(I) IS COMMONLY KNOWN AS A "NO TILL" PLANTER OR
DRILL; AND

(II) IS DESIGNED TO MINIMIZE THE DISTURBANCE OF
THE SOIL IN PLANTING CROPS;

(2) "CONSERVATION TILLAGE EQUIPMENT" INCLUDES A

PLANTER OR DRILL THAT ATTACHES TO EQUIPMENT ALREADY OWNED BY THE
TAXPAYER; AND

(3) "CONSERVATION TILLAGE EQUIPMENT" DOES NOT INCLUDE
EQUIPMENT WITH USEFUL LIFE OF LESS THAN 5 YEARS.

(B) A TAXPAYER MAY CLAIM A CREDIT AGAINST THE TAX IMPOSED
UNDER § 288 OF THIS ARTICLE FOR EXPENSES INCURRED FOR THE
PURCHASE AND INSTALLATION OF CONSERVATION TILLAGE EQUIPMENT USED
IN AGRICULTURAL PRODUCTION BY THE TAXPAYER.

(C) THE CREDIT GRANTED UNDER THIS SECTION MAY NOT EXCEED
THE LESSER OF:

(1) THE TAX COMPUTED UNDER § 288 OF THIS ARTICLE FOR
THE YEAR OF PURCHASE; OR