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SB 2852

Income tax; extend repealer on job tax credit for certain water transportation enterprises.

2025 Regular Session Introduced by Josh Harkins

Would extend the sunset on the water-transport job tax credit, keeping eligibility intact; delays expiration, reducing state tax revenue but supporting maritime jobs.

Died In Committee
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Bill Summary · SB 2852

SB 2852 — Summary

Status: Died in Committee (final disposition recorded 2025-03-04)
Introduced: March 14, 2025
Subject areas: Taxation, Finance, Accountability & Transparency, Ways and Means
Companion bill: HB 687

Purpose

SB 2852 would have extended the statutory repealer (sunset) on an existing income tax job credit that applies to certain water transportation enterprises. In plain terms, the bill sought to continue a targeted tax incentive that reduces state income tax liability for qualifying maritime/water-transport businesses beyond the date when that credit was otherwise scheduled to expire.

Key provisions

  • Extend the repealer/sunset date for an existing job tax credit that benefits specified water transportation enterprises. (The bill text as summarized indicates an extension only; it does not specify changes to eligibility, credit rate, or calculation.)
  • Leave the underlying credit structure and eligibility criteria intact while pushing out the date when the credit would automatically expire.

Who would be affected

  • Water transportation enterprises that currently qualify (or would qualify) for the job tax credit — likely ferry operators, commercial marine service providers, or other businesses classified under the relevant statutory definitions for "water transportation enterprises."
  • State government revenues: extending the credit would reduce income tax receipts to the extent credits are claimed.
  • Workforce in the affected sector: continuation of the credit could support retention or creation of jobs if businesses respond to the incentive.

Fiscal and policy implications

  • Revenue impact: extending the repealer would likely produce a fiscal cost (lowered income tax collections) relative to allowing the credit to expire. The summary record does not include estimated dollar amounts.
  • Policy goals: continuation signals a policy preference for supporting maritime/water-transport jobs and related businesses through tax incentives.
  • Administrative: continuation would require the Department of Revenue (or equivalent tax authority) to continue administering the credit beyond its prior sunset date.

Legislative timeline (selected actions)

  • 2025-01-20: Referred to Finance
  • 2025-02-04: Title sufficient/do pass recommendation
  • 2025-02-05: Passed (Senate)
  • 2025-02-06: Transmitted to House
  • 2025-02-14: Referred to Ways and Means; Accountability, Efficiency, Transparency
  • 2025-03-04: Died In Committee (final disposition reported)
  • Additional procedural entries (filed, co-authorizations, readings and referrals on March–April 2025) appear in the record, but the bill did not advance to enactment.

Note: HB 687 is listed as a companion bill; interested readers should review that bill for parallel actions or differing provisions.

Compiled from official sources — confirm details with the bill’s official record.

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