RELATING TO TAX CREDITS.

HB 1265 establishes a tax credit for businesses that use recycled or waste materials as inputs in their production processes. This credit directly affects qualifying businesses by reducing their state tax liability for taxable years beginning after December 31, 2025. The bill provides a specific mechanism where businesses can claim the credit on their state tax returns when using eligible recycled or waste materials. The bill is currently in committee referral stage following its introduction on January 23, 2025.