#TaxCreditReform hashtag - Bluesky

State tax agency seeks to tighten processes as tax‑credit backlogs and IT modernization press on SDAT’s fiscal 2027 allowance falls 2.5% to $185.2 million amid proposed efficiencies and growing reliance on special funds. DLS and OLA flagged recurring Homeowners Tax Credit (HTC) deficiencies, county documentation delays (Baltimore County singled out), and an audit finding misuse of a corporate purchasing card; SDAT outlined automation and staffing fixes and disputed one DLS staffing cut.

1 month ago

Maryland's tax agency faces scrutiny over payment backlogs and a corporate card scandal while pushing for IT upgrades to streamline operations.

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#MD #ITModernization #CitizenPortal #TaxCreditReform #MarylandHealth #GovernmentAccountability

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Citizen Portal News New Mexico

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1 month ago

House committee tables bill that would double New Mexico's Working Families Tax Credit Lawmakers heard testimony that HB296 would double the Working Families Tax Credit, potentially boosting average family benefits from about $850 to as much as $1,900; after questions about administration and eligibility the committee voted to table the bill for now.

New Mexico lawmakers are considering a game-changing bill that could boost families' Working Families Tax Credit by up to $1,900 annually, but it was just tabled for further review.

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#NM #EconomicParticipation #FamilyStability #NewMexicoFamilies #CitizenPortal #TaxCreditReform

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Citizen Portal News Vermont

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1 month ago

Ways & Means reviews H.770 language to opt Vermont out of federal scholarship tax credit The Ways & Means Committee reviewed H.770, a proposal to prevent Vermont from participating in a new federal tax credit (HR1 §25f) that would let taxpayers claim up to $1,700 for donations to state‑listed scholarship‑granting organizations; staff and members flagged unresolved IRS rules and fiscal risks.

Vermont is considering a bold move to opt out of a new federal scholarship tax credit that could reshape educational funding in the state.

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#VT #CitizenPortal #TaxCreditReform #FiscalPolicy #ScholarshipAccess #VermontEducation

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Citizen Portal News Oklahoma

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1 month ago

Subcommittee approves four transportation bills including creation of revolving fund for lake and industrial access grants The Transportation Subcommittee approved four bills addressing roads funding, a new revolving fund for lake/industrial access grants (HB 3882), and a clarification to an aerospace tax credit (HB 4273). All bills were passed and will move forward for budgetary consideration.

Oklahoma's Transportation Subcommittee just approved four pivotal bills that aim to boost funding for roads and create a transparent revolving fund for lake and industrial access grants!

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#OK #CitizenPortal #TaxCreditReform #CommunityAccessGrants #InfrastructureFunding

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Senate passes SB1 to expand county authority to fund specified housing and extends tax credit transfers Senate Bill 1, concerning county appropriation authority for housing and the middle-income housing tax credit, passed third reading 26–7; cosponsors were recorded and the bill advances following final passage. (SB1 passed.)

2 months ago

Senate Bill 1 has officially passed, giving counties new powers to fund housing initiatives and extending crucial tax credits—what does this mean for Colorado's future?

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#CO #CitizenPortal #LocalGovernance #TaxCreditReform #AffordableHousing

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Committee hears bill to expand state EITC to single filers without dependents SB 377 would raise income thresholds and expand Maryland's earned income tax credit for filers without qualifying children so more low-income workers can claim up to $600; advocates argued it is an effective anti-poverty tool and urged a favorable report.

2 months ago

Maryland is on the verge of expanding its earned income tax credit, potentially putting $600 back into the pockets of low-wage workers without dependents!

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#MD #PovertyAlleviation #CitizenPortal #TaxCreditReform #MarylandEITC #EconomicSupport

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Maryland proposes refundable cybersecurity tax credit and higher vendor caps to boost Buy Maryland program Department of Commerce officials and industry back HB 290, which would make Maryland’s cybersecurity tax credit refundable, eliminate the 50‑employee buyer cap, raise seller revenue eligibility from $5M to $10M, and increase per‑seller buyer claims from $200K to $1M; proponents say the changes aim to increase modest historical uptake.

2 months ago

Maryland is set to revamp its cybersecurity tax credit program, aiming to boost participation and support for small firms—could this be a game changer for the state's tech landscape?

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#MD #CitizenPortal #TaxCreditReform #EconomicDevelopment #SmallBusinessSupport

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Citizen Portal News US

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2 months ago

IRS webinar: 2025 adoption tax credit becomes partly refundable; $17,280 limit clarified The Internal Revenue Service told tax practitioners in a webinar that the 2025 adoption tax credit is now a hybrid credit with up to $5,000 per eligible child refundable, raising the combined refundable and nonrefundable cap to $17,280; the agency also clarified employer exclusion rules, S‑corporation limits, carryforwards and foreign-adoption timing.

The IRS has announced a groundbreaking change to the adoption tax credit, allowing up to $5,000 per eligible child to be refundable, making it a game-changer for adoptive families in 2025!

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#US #CitizenPortal #TaxCreditReform #FinancialAssistance #IRSAdoption #FamilySupport

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Citizen Portal News West Virginia

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2 months ago

Committee caps Build West Virginia tax credits at $2 million per year, creates reserve fund The committee approved a substitute to Senate Bill 627 that would cap new Build West Virginia tax credit liability at $2,000,000 per fiscal year, create a $2,000,000 reserve fund for refundable credits, and allow the Division of Economic Development to approve smaller projects in designated rural areas; the substitute was approved and will be referred to Finance.

The Senate just approved a new plan that caps Build West Virginia tax credits at $2 million per year, while opening doors for rural projects—what does this mean for the state's economic future?

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#WV #FiscalResponsibility #RuralDevelopment #TaxCreditReform

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Citizen Portal News Alabama

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2 months ago

Committee adopts amendment and advances reauthorization of Railroad Modernization tax credit to 2032 Representative Alan Baker told the committee HB190 will reauthorize the Railroad Modernization Act of 2019 through 2032; members adopted an amendment removing proposed per-mile increases and the committee gave the bill a favorable report by voice vote.

Representative Alan Baker's HB190 is set to secure the future of Alabama's short-line railroads by reauthorizing tax credits through 2032, but without the controversial per-mile increase!

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#AL #TaxCreditReform #InfrastructureModernization

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Commerce, industry push to expand Maryland cybersecurity tax credit (SB 25) Commerce and cybersecurity industry groups urged the committee to approve SB 25 to make the Maryland cybersecurity tax credit refundable, raise seller and buyer caps, and remove company‑size limits so more nonprofits and small firms can access the program.

2 months ago

Maryland is on the brink of a cybersecurity revolution with a new bill that could transform the state's tax credit landscape and empower nonprofits and small businesses alike!

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#MD #EconomicDevelopment #MarylandCybersecurity #SmallBusinessSupport #TaxCreditReform

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Citizen Portal News Kansas

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2 months ago

Committee on Education hears HB 2468 to opt Kansas into federal education tax credit and double state scholarship cap The Committee on Education heard testimony for and against HB 2468, which would opt Kansas into a federal $1,700-per-donor education tax credit for qualifying scholarship-granting organizations and raise the state's annual SGO tax-credit cap from $10 million to $20 million (with an automatic escalation provision up to $30 million); supporters said the change would keep private donations in-state and expand scholarships, opponents warned of fiscal and special-education impacts.

The Kansas Committee on Education is debating a bill that could double the state's scholarship tax-credit cap, raising questions about funding for public schools and the future of educational choice in the state.

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#KS #ScholarshipAccess #TaxCreditReform #KansasEducation

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Colorado ag stewardship tax credit maxed out in under two minutes; department to review applications The Department of Agriculture’s new Ag Stewardship Tax Credit program reached capacity within roughly 1 minute 52 seconds of opening; staff said $3,000,000 in credits were fully requested and a $2,000,000 waitlist opened. Officials described a layered review and verification process to confirm eligibility and practices.

3 months ago

In a stunning display of demand, Colorado's Ag Stewardship Tax Credit program was fully requested in just 1 minute and 52 seconds, highlighting an overwhelming interest in sustainable farming practices.

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#CO #CitizenPortal #SustainabilityInitiatives #TaxCreditReform

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Citizen Portal News Tennessee

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4 months ago

Dominion outlines financing and entitlement hurdles for affordable housing; board seeks follow-up session Dominion told the Industrial Development Board on Nov. 12 that high land prices, elevated capital costs and entitlement uncertainty are the main barriers to affordable-housing deals; speakers described a federal tax-test change that could increase bond availability but also warned of market impacts on tax‑credit pricing.

High land prices and rising interest rates are putting a serious strain on Nashville's affordable housing market, but recent federal changes could shake things up!

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#TN #CitizenPortal #EconomicFeasibility #TaxCreditReform #LocalDevelopmentIssues #TennesseeAffordableHousing

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Citizen Portal News Massachusetts

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6 months ago

Massachusetts Senate Proposes Super Research and Development Tax Credit in Bill No. 2080 Legislation seeks to create a super tax credit for research and development expenses

Massachusetts is on the verge of revolutionizing innovation with a bold proposal for a super tax credit aimed at boosting research and development!

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#MA #CitizenPortal #TaxCreditReform #InnovationFunding #EconomicDevelopment

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Governor Allocates $10M From Fund For Healthcare Affordability Initiative Governor designates $10 million to enhance healthcare affordability through tax credit adjustments.

7 months ago

Colorado is set to invest an additional $10 million to enhance healthcare affordability while tackling tax credit reforms that could impact residents' access to essential services.

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#CO #PublicPolicy #CitizenPortal #TaxCreditReform #HealthcareAffordability

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