Relating to: a tax credit for local newspaper subscriptions. (FE)

This bill creates a state tax credit for individuals who purchase subscriptions to qualifying local newspapers, which are defined as newspapers eligible to print legal notices. The credit allows taxpayers to claim 50 percent of their subscription costs as a credit against their state income tax, with a maximum benefit of $250 per year or $125 for married individuals filing separate returns. To use the credit, taxpayers must file a claim within the standard tax filing period for the year in which they paid for the subscriptions. The legislation applies to taxable years beginning after December 31, 2024, and follows existing administrative procedures for similar tax credits.