SB564 - Distressed localities, certain; TAX, et al., to assess tax relief.

4 Co-Sponsors

Individual income tax subtraction; income earned in certain localities. Directs the Department of Taxation and the Commission on Local Government to assess the need for income tax relief in double distressed localities in the Commonwealth that have experienced significant loss of population since 2013. The Department and the Commission must report on their recommendations to the Governor and the Chairmen of the Senate Committee on Finance and Appropriations and the House Committees on Finance and Appropriations by November 1, 2024. Individual income tax subtraction; income earned in certain localities. Directs the Department of Taxation and the Commission on Local Government to assess the need for income tax relief in double distressed localities in the Commonwealth that have experienced significant loss of population since 2013. The Department and the Commission must report on their recommendations to the Governor and the Chairmen of the Senate Committee on Finance and Appropriations and the House Committees on Finance and Appropriations by November 1, 2024.