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HB24-1240

AmeriCorps Education Award Tax Subtraction

Concerning the creation of an income tax subtraction for Segal AmeriCorps Education Awards.
Session:
2024 Regular Session
Subject:
Fiscal Policy & Taxes
Bill Summary

The act creates an income tax subtraction (deduction) for income tax years 2026 to 2033 for the amount of any Segal AmeriCorps Education Award received by a taxpayer for service in the AmeriCorps national service program, which is used by the taxpayer during the income tax year.

APPROVED by Governor June 3, 2024

EFFECTIVE June 3, 2024
(Note: This summary applies to this bill as enacted.)

Status

Introduced
Passed
Became Law

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Bill Text

  • All Versions (7 )
    Date Bill Type Documents
    06/03/2024 Signed Act PDF
    05/29/2024 Final Act PDF
    05/06/2024 Rerevised PDF
    05/04/2024 Revised PDF
    05/01/2024 Reengrossed PDF
    04/30/2024 Engrossed PDF
    02/12/2024 Introduced PDF

Sponsors

Sponsor Type Legislators
Prime Sponsor

Rep. J. Joseph, Rep. R. Weinberg
Sen. T. Exum, Sen. J. Rich

Sponsor

Co-sponsor

Rep. J. Amabile, Rep. J. Bacon, Rep. S. Bird, Rep. K. Brown, Rep. R. English, Rep. L. Herod, Rep. I. Jodeh, Rep. J. McCluskie, Rep. N. Ricks, Rep. B. Titone
Sen. J. Bridges, Sen. L. Cutter, Sen. D. Michaelson Jenet, Sen. K. Mullica, Sen. K. Priola

The effective date for bills enacted without a safety clause is August 7, 2024, if the General Assembly adjourns sine die on May 8, 2024, unless otherwise specified. Details