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Bill

Bill

HB 283

RELATING TO INCOME TAX.

2025 Regular Session Introduced by David Alcos and 7 co-sponsors

Bill HB 283 aims to reform income tax, focusing on equitable rates and credits to support low-income families and small businesses, easing their financial burdens.

Carried over to 2026 Regular Session.
#incometax #minoritycaucuspackage #taxation
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WeVote Research Nonpartisan
Bill Summary · HB 283

Summary of Bill HB 283: Relating to Income Tax

Bill Number: HB 283
Title: Relating to Income Tax
Status: Referred to FIN, referral sheet 1
Introduced: January 16, 2025
Classification: Bill
Subject: Income Tax, Minority Caucus Package, Taxation

Purpose and Intent

Bill HB 283 aims to address issues related to income tax within the jurisdiction it governs. The bill is part of the Minority Caucus Package, indicating a focus on tax reforms that may benefit underrepresented groups or address disparities in the current tax system. The intent is to create a more equitable taxation framework that could potentially alleviate financial burdens on certain populations.

Key Provisions

While specific provisions of HB 283 are not detailed in the provided information, typical changes in income tax legislation may include:

  • Adjustments to Tax Rates: Potential modifications to existing income tax rates for individuals or businesses.
  • Tax Credits or Deductions: Introduction of new tax credits or deductions aimed at supporting low-income families, small businesses, or specific sectors.
  • Increased Exemptions: Raising the income threshold for tax exemptions to benefit lower-income earners.
  • Revisions to Tax Filing Procedures: Simplifying the tax filing process to make it more accessible for taxpayers.

Affected Parties

The bill is likely to impact:

  • Individual Taxpayers: Changes in tax rates or credits could directly affect the disposable income of residents.
  • Small Businesses: Adjustments in taxation could influence business operations and profitability.
  • Low-Income Families: Provisions aimed at providing relief may particularly benefit families with limited financial resources.

Procedural Timeline

  • January 16, 2025: Bill HB 283 was introduced and is pending further legislative action.
  • January 17, 2025: The bill passed its first reading, indicating initial approval to proceed through the legislative process.
  • January 21, 2025: The bill was referred to the Finance Committee (FIN) for further consideration and discussion.

Conclusion

Bill HB 283 represents a legislative effort to reform income tax policies with a focus on equity and support for marginalized communities. As it progresses through the legislative process, further details regarding specific provisions and their implications will become clearer. Stakeholders, including taxpayers and businesses, should monitor the bill's developments closely to understand its potential impact on their financial obligations and benefits.

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

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