Rosilicie Ochoa Bogh
- Republican
- Senator
- District 23
Author
The Personal Income Tax Law, in modified conformity with federal income tax laws, generally allows various deductions in computing the income that is subject to taxes imposed by that law, including a deduction for qualified retirement contributions. Existing federal law, the Consolidated Appropriations Act, 2023, among other things, expanded the deduction for qualified retirement contributions by indexing catch-up limitations for persons 50 years of age or older to inflation, increasing catch-up limits for persons age 60, 61, 62, and 63, and increasing contribution limits for simple plans, as defined. This bill would conform state law to the above-referenced changes to federal law. Existing law requires any bill authorizing a new tax expenditure to contain, among other things, specific goals, purposes, and objectives that the tax expenditure will achieve, detailed performance indicators, and data collection requirements. The bill would also include additional information required for any bill authorizing a new tax expenditure. This bill would take effect immediately as a tax levy.
Returned to Secretary of Senate pursuant to Joint Rule 56.
May 18 hearing: Held in committee and under submission.
Set for hearing May 18.
May 15 hearing: Placed on APPR suspense file.
Set for hearing May 15.
From committee: Do pass and re-refer to Com. on APPR with recommendation: To consent calendar. (Ayes 7. Noes 0. Page 993.) (May 3). Re-referred to Com. on APPR.
From committee with author's amendments. Read second time and amended. Re-referred to Com. on GOV. & F.
Set for hearing May 3.
From printer. May be acted upon on or after March 16.
Introduced. Read first time. To Com. on RLS. for assignment. To print.
| Bill Text Versions | Format |
|---|---|
| SB454 | HTML |
| 02/13/23 - Introduced | |
| 04/25/23 - Amended Senate |
| Document | Format |
|---|---|
| 04/28/23- Senate Governance and Finance | |
| 05/12/23- Senate Appropriations |
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