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Senate hears proposal for state refundable credit to offset local car personal property tax; committee passes bill by indefinitely
Summary
A bill proposing a state income tax credit to offset local personal property (car) tax for lower- and middle-income residents drew extended discussion. Sponsors said the credit would not reduce local receipts and that the governor's budget contained funding for initial years; the subcommittee moved to pass the bill by indefinitely.
Senator Durant presented legislation that would create a new state income tax credit equal to local personal property tax paid on personal‑use vehicles, capped at $150 for individuals and $300 for joint filers. The credit would generally target taxpayers with adjusted gross income below $50,000 for individuals and $100,000 for married couples filing jointly and include a restriction that the credit only…
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