HB21-1197
Income Tax Credit For Income Taxes Paid
| Type | Bill |
|---|---|
| Session | 2021 Regular Session |
| Subjects |
Concerning a temporary income tax credit for state income tax paid for individuals with federal taxable income less than a certain amount.
Bill Summary:
For income tax years commencing on or after January 1, 2021, but before January 1, 2026, the bill specifies that a qualified taxpayer is allowed an income tax credit in an amount equal to the income tax imposed on the qualified taxpayer in that income tax year so that the income tax due for the qualified taxpayer in that income tax year is zero.
The bill defines a qualified taxpayer as:
- An individual who files a federal income tax return with federal taxable income in an amount less than $20,000; or
- Two individuals who file a joint federal income tax return with combined federal taxable income in an amount less than $40,000.
(Note: This summary applies to this bill as introduced.)
Committees
House
Finance
Related Documents & Information
| Date | Version | Documents |
|---|---|---|
| 03/04/2021 | Introduced |
| Activity | Vote | Documents |
|---|---|---|
| Adopt amendment L.003 | The motion passed on a vote of 7-3. | Vote summary |
| Refer House Bill 21-1197, as amended, to the Committee on Appropriations. | The motion passed on a vote of 6-4. | Vote summary |
| Reconsider | The motion passed on a vote of 11-0. | Vote summary |
| Postpone House Bill 21-1197 indefinitely. | The motion passed on a vote of 11-0. | Vote summary |
| Date | Amendment Number | Committee/ Floor Hearing | Status | Documents |
|---|---|---|---|---|
| 03/29/2021 | L.003 | HOU Finance | Passed [*] |
| Date | Location | Action |
|---|---|---|
| 03/29/2021 | House | House Committee on Finance Postpone Indefinitely |
| 03/04/2021 | House | Introduced In House - Assigned to Finance |
Prime Sponsor
Sponsor
Co-Sponsor
(None)