This bill provides a $500 tax credit for individuals who permanently relocate to the state to access reproductive care or gender-affirming care, or for healthcare providers who relocate to offer such care. It applies to people moving from states with stricter abortion laws or more restrictive gender-affirming care access laws. The credit is available on individual income tax returns for the tax year of relocation, with excess credits refundable if they exceed tax liability. The policy takes effect for taxable years beginning January 1, 2025.
Senate Bill S 7884 proposes to amend the tax law to allow a deduction from personal gross income. This deduction is specifically for expenses incurred by taxpayers when adopting a child from the foster care system. It covers various costs, including adoption fees, medical and legal fees, court costs, and other related expenses. The bill aims to reduce the taxable income for individuals who incur these specific adoption-related expenses.
S 4427 creates a 25% tax credit for small businesses (those with fewer than 101 employees) that purchase qualified data breach insurance. This insurance must cover expenses related to data theft, loss, or unauthorized access, and businesses must comply with cybersecurity standards like the NIST framework or state-approved equivalents. The bill requires insurance premiums to be separately itemized in contracts and limits the credit to premiums paid in ordinary business operations. It applies to taxable years beginning after the law takes effect and expires after five years.
Repeals certain provisions relating to use tax exemptions for certain race horses; prevents nonresident race horse owners from avoiding use tax in certain situations.
This bill imposes a tax on sugary drinks based on their sugar content per 12-ounce serving. Distributors (like manufacturers and wholesalers) pay the tax, which is added to the retail price: no tax for drinks with ≤7.5g sugar/12oz, $0.01 per ounce for 7.5-30g, and $0.02 per ounce for ≥30g. Revenue from this tax funds a "community health equity fund" as specified in the bill's abstract. The tax applies to most nonalcoholic beverages containing added sugars, excluding medical drinks, milk, natural fruit/vegetable juices, and water.
Provides a tax credit for utility bill payments made in taxable years 2025 and 2026 based on the difference of the average monthly utility bill payment in the year in which the credit is claimed and the average monthly utility bill payment in the preceding three taxable years; establishes a moratorium on certain utility bill surcharges until April 1, 2026; provides for the repeal of such moratorium upon expiration thereof.
Requires legislative fiscal impact notes to include objective calculations of anticipated economic impacts for next three years on state or political subdivisions.
S 7248 creates a personal income tax credit allowing taxpayers to deduct up to $500 from their state income tax for purchasing a gun safe. The credit is limited to once every ten years and cannot exceed $500 per taxable year. Taxpayers who claim the credit may apply any unused portion as an overpayment refund, but no interest is paid on the refund. This policy directly affects individuals buying gun safes who file state income taxes.
Establishes the fresh air jobs tax credit for businesses participating in the development or production of clean wind energy buildout programs in this state.
Creates the non-partisan legislative budget office; directs such office shall provide information to legislative committees of the senate and assembly with respect to the state budget, appropriation bills and other bills providing budget authority or tax expenditures; requires such office to report to the temporary president of the senate, the senate minority leader, the speaker of the assembly and the assembly minority leader.
