This bill establishes an income tax credit for film and digital media productions operating in Hawaii to encourage local investment in the industry. The credit provides a percentage of qualified production costs, offering 22% for projects in counties with over 700,000 residents and 27% for those in smaller counties, with an additional 5% bonus for productions that hire at least 80% local workers. To claim the credit, producers must submit sworn statements and independent third-party certifications detailing their spending and hiring practices to state agencies. The total credit available per production is capped at $20 million, though this limit does not apply to projects with at least $60 million in qualified costs, while the overall annual credit pool is set at $60 million.
This bill proposes to automatically increase the income thresholds used to determine how much of Social Security benefits are subject to federal income tax. Starting in 2027, the specific dollar limits would be adjusted annually based on the official cost-of-living adjustment, with any resulting amounts rounded up to the nearest hundred dollars. The change directly affects retirees and other individuals who receive Social Security payments, ensuring that the income levels triggering taxes on those benefits keep pace with inflation. By updating these thresholds, the legislation aims to prevent the taxable portion of benefits from growing disproportionately as prices rise over time.
This resolution encourages Congress to reform the tax system so that all citizens pay taxes based on their total economic gains, regardless of whether that income comes from wages or investments. It highlights current disparities where wage earners are taxed at the source while wealth from assets like stocks, real estate, and digital currencies often escapes immediate taxation through deferrals, inheritance rules, and charitable vehicles. The bill specifically urges the House Ways and Means Committee to hold hearings on these differences and calls for consistent tax treatment across all income sources to ensure fairness in funding the federal government.
This bill establishes a new Pennsylvania tax credit program designed to help residents who pay for child and dependent care. It allows eligible taxpayers to claim a state tax credit based on the amount they already claim for the same expenses on their federal tax returns. The credit rate changes over time, starting at 30% for tax years ending before 2023, increasing to 100% for years between 2023 and 2026, and returning to 100% for years after 2026. The maximum credit is calculated on up to $3,000 of expenses for one child or $6,000 for two or more children.
This bill proposes a constitutional amendment to add a new income tax surcharge for high-earning individuals in Michigan starting in 2027. The surcharge applies a 5% tax on income exceeding $500,000 for single filers or $1,000,000 for joint filers, with these thresholds automatically adjusted each year based on the national inflation rate. All money collected from this surcharge must be spent exclusively on pre-kindergarten through 12th-grade education, child care, health and human services, housing, and water infrastructure. The amendment requires voter approval at a general election to take effect and directs the legislature to create the necessary laws to implement the tax.
This bill updates Michigan state law to require the Department of Treasury to pay interest on tax refunds that are delayed beyond specific timeframes. It directly affects taxpayers who have filed complete and timely income tax returns and are awaiting refunds. Under the new rules, refunds for Michigan income taxes will automatically earn interest if they are not processed within 30 or 60 days of the department receiving the return, depending on when the return was filed. The bill also establishes a penalty of $100 for refunds delayed more than 90 days and sets a fixed 3% annual interest rate for a temporary period before switching to a variable rate tied to the prime rate. These provisions apply only to straightforward refunds without errors, audits, or suspected fraud, ensuring the state compensates citizens for administrative delays.
This bill creates a state income tax credit for advanced practice registered nurses who serve as preceptors for nursing student clinical rotations in Michigan. Eligible nurses can claim up to $1,500 annually, calculated at $500 for every 250 hours of supervision provided, provided they do not receive separate payment for these duties. To receive the credit, nurses must submit a written statement and documentation verifying their hours to the state tax department. The legislation also requires the state to report annually on the number of claims and total credits issued to assess the program's effectiveness.
This bill creates a new tax incentive called the "amplify Mi voice credit" for Michigan residents who donate money to support candidates or ballot measures in state and local elections. Starting in the 2028 tax year, eligible taxpayers can claim a credit against their income tax equal to the amount they contribute to specific candidate committees, with a maximum limit of $250 for single filers or $500 for joint filers. To receive the credit, individuals must provide proof of their donations on their tax return, and any unused portion of the credit will be refunded if it exceeds the tax owed. The measure specifically excludes contributions to political party committees, independent groups, and caucus committees, focusing only on direct support for candidates and ballot questions.
The Tariff Refund Act of 2026 directs the IRS to issue refunds or credits to eligible U.S. citizens who meet specific income and residency criteria. To qualify, an individual must have an adjusted gross income below $200,000, $300,000 for heads of household, or $400,000 for joint filers, and cannot be incarcerated or claimed as a dependent on another's tax return. The bill treats these eligible taxpayers as having already paid a fixed amount of tax toward their 2025 liability, effectively refunding that sum if they have not yet paid it. Payments will be processed electronically to existing bank accounts or Treasury-sponsored accounts, with no interest applied to the refunds. The legislation also includes provisions to prevent duplicate payments and allows dependents of incarcerated individuals to receive funds if the primary earner is ineligible.
This bill proposes new restrictions on retirement savings for high-income individuals who already have large account balances. It would limit annual contributions to traditional retirement plans for taxpayers with modified adjusted gross income exceeding $225,000 to $450,000, depending on filing status, if their total retirement savings surpass a $10 million threshold. Additionally, the legislation would increase the minimum required distributions for these same individuals, forcing them to withdraw more money annually from their accounts starting in 2034. To facilitate these withdrawals, the bill requires retirement plans to allow employees to request specific lump-sum distributions and mandates higher tax withholding on these payments.
