Grants personal income taxpayers with a credit of $1.00 per day for each day after April 1 until the legislature enacts the state budget

1 Co-sponsor

• Thomas F. O'Mara

BILL NUMBER:A10305

Title of bill

An act to amend the tax law, in relation to providing for a personal income tax credit in the event of a tardy state budget

Purpose or general idea of bill

Grants personal income taxpayers with a credit of $1.00 per day for each day after April 1 until the legislature enacts the state budget.

Summary of specific provisions

An act to amend the tax law, in relation to providing for a personal income tax credit in the event of a tardy state budget.

Justification

The state legislature has been increasingly late in the past fifteen years and the taxpayer has been the most directly affected group. This bill would give the taxpayer a reward for filing their taxes on time, while the legislators continue to give themselves extensions.

Prior legislative history

2007: A.4839; Referred to Ways and Means 2008: A.4839; Referred to Ways and Means 2006: A.2909; Referred to Ways and Means 2005: A.2909; Referred to Ways and Means 2004: A.2228; Held for consideration in the Ways and Means 2003: A.2228; Referred to Ways and Means 2002: A.4515; Held for consideration in the Ways. and Means 2001: A.4515; Referred to Ways and Means 2000: A.7553; Held for consideration in Ways and Means 1999: A.7553; Referred to Ways and Means

Fiscal implications

Uncertain. The fiscal implications would be deter- mined by how late the budget is passed.

Effective date

This act shall take effect immediately and shall apply to taxable years beginning on or after January 1, 2006.