Establishes a carbon displacement tax credit for taxpayers of locally produced goods. Requires the Department of Business, Economic Development, and Tourism to certify tax credit amounts.
Provides a general excise tax exemption on gross proceeds received from the construction, sale, or installation of electrical vehicle charging infrastructure in certain circumstances. Repeals on 1/1/2031.
HB 947 would change how real estate investment trusts (REITs) are taxed by eliminating their ability to deduct dividends paid to shareholders. This policy change directly affects REITs operating in the state, increasing their taxable income starting in 2026. The bill removes a specific tax deduction currently allowed for REITs, meaning these entities would pay more tax on their earnings beginning with taxable years after December 31, 2025. The bill is currently pending in committee review for the 2026 legislative session and has not yet been enacted.
Imposes a state carbon emissions tax of $6.25 per ton of carbon dioxide equivalent emissions on all aviation fuel. Directs the aviation fuel tax into the airport revenue fund. Implements a tax credit to mitigate the effects of this tax on lower income taxpayers. Applies to taxable years beginning after 12/31/24.
SB 2023 increases the income or revenue thresholds that require businesses to file the General Excise Tax and Transient Accommodations Tax. This change would directly affect businesses currently subject to these taxes but operating below the new higher thresholds. The bill modifies the filing requirements by raising the monetary limits for when these tax filings become mandatory.
For taxable years beginning after 12/31/2026, establishes a 5-year aquaculture investment tax credit for taxpayers that incur qualifying investment costs relating to qualified aquaculture businesses.
HB 1729 would remove the state income tax deduction for mortgage interest paid on second homes. This directly affects homeowners who own vacation properties, rental properties, or additional residences beyond their primary home. The bill changes state tax law so that interest on loans for these second properties no longer reduces taxable income. It does not apply to primary residences or federal tax rules.
Requires the Office of Planning and Sustainable Development, in collaboration with other state and county agencies, to study options for and coordinate the development of a shared statewide housing and infrastructure data platform to inform agency decision-making and state housing and infrastructure investments. Includes the development of a model that assesses the fiscal impacts of development and regional infrastructure investments. Appropriates funds. Effective 7/1/3000. (HD1)
PART II: Exempts the sale of groceries and nonprescription drugs from the general excise tax. PART III: Removes the state income tax on unemployment compensation benefits. PART IV: Doubles the standard deduction for individuals earning less than $100,000 and joint filers earning less than $200,000. Repeals the incremental increases on standard income tax deduction amounts. PART V: Increases the maximum adjusted gross income allowed to qualify for the low-income household renters' income tax credit and increases the credit amount. PART VI: Repeals the incremental changes to income tax brackets and removes the tax liability for the first $100,000 of individual income earned.
Requires the office of the legislative analyst to produce fiscal notes on all fiscal bills. Prohibits a committee from making a decision on a fiscal bill without a fiscal note. Mandates that fiscal notes be made available to the public. Appropriates funds.
