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Bill

A 517

Provides a deduction against adjusted gross income for dues paid by small businesses to chambers of commerce

2025 Regular Session Introduced by Carrie Woerner

Bill A 517 allows small businesses to deduct chamber of commerce dues from their taxable income, easing financial burdens and promoting local economic growth.

REFERRED TO WAYS AND MEANS
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Bill Summary · A 517

Summary of Bill A 517

Bill Number: A 517
Title: Provides a deduction against adjusted gross income for dues paid by small businesses to chambers of commerce
Status: Referred to Ways and Means
Introduced: January 08, 2025
Classification: Bill

Purpose and Intent

Bill A 517 aims to support small businesses by allowing them to deduct dues paid to chambers of commerce from their adjusted gross income (AGI). This measure is intended to alleviate some of the financial burdens faced by small businesses and encourage their participation in local business organizations, which can provide networking opportunities, resources, and advocacy.

Key Provisions

  • Deduction for Dues: The bill proposes that small businesses be allowed to deduct the amount they pay in dues to chambers of commerce from their adjusted gross income. This deduction is expected to reduce the overall tax liability for these businesses.

  • Eligibility Criteria: While the bill does not specify the exact criteria for what constitutes a "small business," it typically refers to businesses that meet certain revenue thresholds as defined by state or federal guidelines.

  • Implementation Timeline: The bill was introduced on January 08, 2025, and is currently referred to the Ways and Means Committee for further consideration. The timeline for potential enactment will depend on the committee's review and any subsequent legislative actions.

Impact

  • Beneficiaries: The primary beneficiaries of this bill would be small businesses that are members of local chambers of commerce. By reducing their taxable income, these businesses may have more financial resources to invest in growth, hiring, and community engagement.

  • Chambers of Commerce: Local chambers of commerce may see an increase in membership as small businesses take advantage of the tax deduction, potentially leading to stronger local economies and enhanced business networks.

  • State Revenue: The implementation of this deduction may have implications for state tax revenues, as it could reduce the overall tax intake from small businesses. The long-term economic benefits of supporting small businesses may offset these initial revenue losses.

Related Bills

  • A 10491 (prior-session): A related bill from a previous session that may address similar issues concerning small business support.
  • A 598 (prior-session): Another prior-session bill that could have implications for small business taxation or support.
  • A 53 (prior-session): A previous legislative effort that may relate to small business operations or financial assistance.

Conclusion

Bill A 517 represents a legislative effort to bolster small businesses by providing a financial incentive through tax deductions for chamber of commerce dues. As it moves through the legislative process, its potential impact on small business growth and local economies will be closely monitored.

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

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