1 minute
Tomorrow, May 14th, the Senator Revenue and Taxation Committee will hear a set of Senator Choi’s bills. Bills that move forward out of this committee will be heard in the Appropriations Committee, next week
SB 267 (Choi) Provides a tax credit for teachers – in an amount up to $250 – for the purchase of instructional materials and classroom supplies per taxable year that are not reimbursed.
SB 268 (Choi) Provides a straightforward but effective remedy by excluding emergency settlement payments from gross income for taxation.
SB 269 (Choi) Provides a tax credit to homeowners who perform qualified home hardening and vegetation management on their properties.
SB 529 (Choi) Authorizes a deduction from gross income in an amount equal to the contribution made to a qualified tuition savings program (i.e. ScholarShare 529 plans). Caps the deduction amount at $10,000 and $5,000 (per beneficiary) based on filing status. Specifies that the deduction is only available to taxpayers whose adjusted gross income does not exceed certain amounts.
SB 665 (Choi) Establishes an annual Tax Credit for Retail Theft Security (up to $10,000) for qualified retail establishments that allocate part of their net income to private security measures aimed to prevent retail theft and protect employees.
SB 666 (Choi) Provides a tax credit to homeowners for purchasing and installing home security surveillance systems.
SB723 (Choi) Increases the threshold for the low value ordinance exemption for real property from $10,000 to $25,000.