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Senate bill would phase down corporate credit carryover cap to smooth state's cash flow; DRA: $162M current liability
Summary
SB 652 would gradually reduce the maximum corporate tax credit carryover percentage over multiple biennia to limit mandatory refunds and stabilize cash flow. DRA testified the state's recorded carryforward liability for FY25 is about $162 million and provided modeled refund schedules under current law and the bill's staged reductions.
Sen. Tim Lang described SB 652 to the House Ways and Means committee as a cash‑management bill that staggers reductions to corporate tax credit carryover caps to avoid disruptive large mandatory refunds.
"What this bill does is just says that we're gonna reduce it by 50% every year until we get to 150% maximum credit carryover every biennium," Lang said, explaining the proposal would phase down the cap rather than make an immediate large cut.
Jennifer Ramsey,…
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