Personal income taxes: credit: ABLE account contributions.
Summary
The Personal Income Tax Law allows various credits against the taxes imposed by those laws. This bill would allow a credit against those taxes for each taxable year beginning on or after January 1, 2019, and before January 1, 2024, in an amount equal to 20% of a qualified contribution, as defined, paid or incurred by a taxpayer during the taxable year, not to exceed $750. This bill would take effect immediately as a tax levy.
Bill status
in committee
1 of 4 stages cleared
Introduction
Feb 2018
Committee Review
Floor Vote
Governor
Introduced Feb 16, 2018
Last action May 25, 2018
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
11
Key actions
0
Committee
3
Amendments
1
May 25, 2018
Senate · Reported by committee
May 25 hearing: Held in committee and under submission.
May 15, 2018
Senate · Amendment adopted
Read second time and amended. Re-referred to Com. on APPR.
May 14, 2018
Senate · Reported by committee
From committee: Do pass as amended and re-refer to Com. on APPR. (Ayes 5. Noes 0. Page 4996.) (May 9).
Mar 8, 2018
Senate · Referred to committee
Referred to Com. on GOV. & F.
Feb 16, 2018
Senate · Introduced
Introduced. Read first time. To Com. on RLS. for assignment. To print.
1 primary · 0 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Jeff Stone
RRepublican
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