By Representative Rogers of Cambridge and Senator Brownsberger, a joint petition (accompanied by bill, House, No. 5661) of David M. Rogers and William N. Brownsberger (by vote of the town) that the town of Belmont be authorized to increase certain income, asset and benefit limits for senior property tax abatements. Revenue. [Local Approval Received.]
This bill creates a tax exemption for money received by individuals who participate in approved clinical trials, allowing them to keep compensation and expense reimbursements without paying federal income tax. It also ensures that these payments are not counted as income or resources when determining eligibility for federal or federally funded assistance programs. The changes apply to any payments made after December 31, 2025, and are designed to help participants in studies covering a broader range of diseases and conditions.
This bill modernizes Hawaii's enterprise zone program to better support local businesses by expanding the range of eligible activities and updating qualification rules. It allows local manufacturers that sell directly to retailers to qualify for benefits, adds new eligible sectors such as aerospace technology and specific medical services, and permits the state to designate up to two census tracts on state land as enterprise zones if they contain innovation enterprises. Additionally, the bill requires the Department of Business, Economic Development, and Tourism to conduct a comprehensive review of the program in consultation with the Department of Taxation and report its findings to the legislature. These changes aim to revitalize neighborhoods and promote job creation and preservation for local companies in designated areas.
This bill creates a new tax incentive program to encourage investment in specific areas designated for maritime industries, such as shipyards and ports. It allows certain census tracts identified by the Secretary of Commerce, in consultation with federal officials, to be treated as qualified opportunity zones, which offers tax benefits to investors who put money into businesses operating within those areas. To qualify, the businesses must be directly involved in maritime activities like building or repairing vessels, and the program is limited to a maximum of 100 designated zones. The changes to the tax code will take effect after December 31, 2026, with the initial selection process for these zones beginning by July 1, 2027.
The Data Center Tax Accountability and Disclosure Act of 2026 modifies tax rules and establishes reporting requirements for large data centers. It removes a tax incentive known as bonus depreciation for artificial intelligence data centers unless they meet specific green building standards, such as LEED Platinum or Gold certification. Additionally, the bill requires operators of data centers consuming at least 25 megawatts of power to submit detailed annual reports on their water and electricity usage, emissions, and backup power systems to state or federal agencies. These reports must be made public, and the law prohibits companies from using confidentiality agreements to hide this information. Operators who fail to comply with these reporting requirements face daily civil penalties of up to $100,000 for intentional violations.
The Increasing Opportunity For Reindustrialization Act designates census tracts containing former Department of Defense installations as Qualified Opportunity Zones. This change allows communities near closed military bases to access federal tax incentives intended for economic development, even if they do not meet the standard low-income requirements. The bill specifically amends the Internal Revenue Code to include these areas in the program and increases the number of eligible zones per state to accommodate them.
The American Shipyard Investment Act of 2026 creates a new tax credit to encourage investment in U.S. shipyards that build or repair commercial and military vessels. This credit allows taxpayers to deduct 25 percent of their qualified investments in these facilities from their taxes, increasing to 35 percent for projects located in designated economic zones. The law defines eligible investments as property used for constructing, repairing, or manufacturing parts for ships and sets a deadline of December 31, 2033, for when the property must be put into service. Additionally, the bill permits businesses to transfer unused tax credits to other entities and provides an exemption from a specific alternative tax on shipping activities.
This bill designates the District of Columbia as the nation's "Tech for Good Capital" and creates a new tax incentive program for technology companies that develop solutions for public-interest challenges. To qualify for a real property tax abatement, these companies must be based in the District and primarily focused on areas such as civic engagement, public health, climate resilience, and education. The legislation also establishes a working group to create a marketing strategy and authorizes the Deputy Mayor for Planning and Economic Development to support innovation clusters aimed at strengthening the local economy.
This Pennsylvania bill creates a new tax incentive to encourage the installation of green infrastructure, such as rain gardens, green roofs, and permeable pavement, on properties within the state. It defines "green infrastructure" as stormwater management practices that reduce or reuse runoff and sets rules for claiming a tax credit based on qualified costs like design, materials, and installation. To receive the credit, taxpayers must complete a certified project and submit detailed documentation to the Department of Revenue, while excluding costs covered by grants or routine maintenance. The legislation also updates the legal definition of "tax credit" to include this new program alongside existing state tax benefits.
This bill creates a new tax incentive program called the Keystone Literacy Investment Tax Credit to fund evidence-based reading instruction in Pennsylvania public schools. The program allows insurance companies and their holding companies to purchase tax credits from the state, which they can then use to offset their own insurance premiums tax liability. The Department of Community and Economic Development will sell up to $150 million in these credits by January 2027, with the funds designated for literacy programs. Qualified taxpayers can begin applying the credits against their tax bills starting in 2029, with an annual cap on the total amount of credits that can be used set at $50 million.
