[LWVNM Action] Summary of HB547 - Omnibus Tax & Revenue bill - A great winn

[Ann LePage]

Dick, I can't find SB13 on the SJC for today.

Ann

On Mon, Mar 6, 2023 at 12:52 PM Richard Mason via Action <
action at mailman.swcp.com> wrote:

> This goes a long way to promoting progressivity & fairness in our tax
> system
>
>   AMENDING INCOME TAX BRACKETS PURSUANT TO THE INCOME TAX ACT; - *LWVNM
> priority*
>
> PROVIDING FOR THE INDEXING OF MODIFIED GROSS INCOME FOR PURPOSES OF
> DETERMINING THE AMOUNT OF THE LOW-INCOME COMPREHENSIVE TAX REBATE; - *This
> was unexpected and would have been a LWVNM priority had it been introduced
> as a separate bill*
>
>  EXTENDING THE SUNSET DATE FOR AN INCOME TAX EXEMPTION FOR ARMED FORCES
> RETIREMENT PAY;
>
> AMENDING PROVISIONS OF THE RURAL HEALTH CARE PRACTITIONER TAX CREDIT; -
> good health for health care
>
>  INCREASING AND INDEXING THE AMOUNT OF THE CHILD INCOME TAX CREDIT FOR
> CERTAIN TAXPAYERS; - *LWVNM priority*
>
> LIMITING THE CAPITAL GAINS DEDUCTION FROM NET INCOME;- *LWVNM priorit*y
>
>  PROVIDING ADDITIONAL 2021 INCOME TAX REBATES; -
>
> CREATING THE ELECTRIC VEHICLE INCOME TAX CREDIT; CREATING THE ELECTRIC
> VEHICLE CHARGING UNIT INCOME TAX CREDIT;   -* LWVNM supported*
>
> CREATING THE ENERGY STORAGE SYSTEM INCOME TAX CREDIT; - *LWVNM supported*
>
> CREATING A FLAT CORPORATE INCOME TAX RATE; REQUIRING ALL BUSINESS INCOME
> TO BE APPORTIONED BY THE SINGLE SALES FACTOR; - *LWVNM Priority*
>
> PROVIDING A  TEMPORARY EXCEPTION TO THE NEW APPORTIONMENT REQUIREMENTS;
> REDUCING THE RATES OF THE GROSS RECEIPTS TAX AND THE COMPENSATING TAX;
>
> CREATING GROSS RECEIPTS TAX DEDUCTIONS FOR THE SALE OF CHILD CARE
> ASSISTANCE THROUGH A LICENSED CHILD CARE ASSISTANCE PROGRAM AND
> PRE-KINDERGARTEN SERVICES BY FOR-PROFIT PRE-KINDERGARTEN PROVIDERS;
>
>  CREATING A GROSS RECEIPTS TAX DEDUCTION FOR ENVIRONMENTAL MODIFICATION
> SERVICES MADE TO THE HOMES OF MEDICAID RECIPIENTS;
>
> AMENDING THE INDUSTRIAL REVENUE BOND ACT AND THE COUNTY INDUSTRIAL REVENUE
> BOND ACT TO INCLUDE CERTAIN ELECTRIC ENERGY STORAGE FACILITIES AS ELIGIBLE
> PROJECTS; - *LWVNM supported ???*
>
> REQUIRING MUNICIPALITIES AND COUNTIES THAT ACQUIRE ENERGY STORAGE FACILITY
> PROJECTS TO PROVIDE PAYMENT-IN-LIEU-OF TAXES PAYMENTS TO SCHOOL DISTRICTS; *LWVNM
> supported*
>
> AMENDING DISTRIBUTIONS OF THE MOTOR VEHICLE EXCISE TAX;
>
>  INCREASING THE LIQUOR EXCISE TAX RATE ON CERTAIN ALCOHOLIC BEVERAGES;
> DISTRIBUTING A PORTION OF THE REVENUE FROM THE LIQUOR EXCISE TAX TO A NEW
> ALCOHOL HARMS ALLEVIATION FUND; - *LWVNM supported*
>
>  INCREASING THE TOBACCO PRODUCTS TAX ON CIGARS.- *LWVNM supported*
> _______________________________________________
> Action mailing list
> Action at mailman.swcp.com
> https://mailman.swcp.com/cgi-bin/mailman/listinfo/action
>
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