Report Title: Income Tax; Standard Deduction; Itemized Deduction; Income Tax Brackets; Personal Exemption; Child and Dependent Care Tax Credit; Conformity with Federal Deductions
Description: Provides for re-computation of the amounts for standard deduction, itemized deduction, income tax brackets, and personal exemption each tax year, taking into account the cost-of-living adjustment factor. Adds a one-time adjustment to tax brackets. Increases the applicable percentage of the employment-related expenses for which the child and dependent care income tax credit may be claimed; provides for re-computation of the applicable percentage taking into account the cost-of living adjustment factor; and provides for a disallowance period when there is a final administrative or judicial decision finding that the claim was due to fraud or disallowing the credit. Amends state conformity with certain federal deductions.
Companion:  SB3093
Package: Governor
Current Referral: FIN
Introducer(s): SAIKI (Introduced by request of another party)

Sort by Date Status Text
1/26/2024HReferred to FIN, referral sheet 3
1/24/2024HIntroduced and Pass First Reading.
1/22/2024HPending introduction.

S = Senate | H = House | D = Data Systems | $ = Appropriation measure | ConAm = Constitutional Amendment

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