HB 315

Abstract

This Act creates a tax credit applicable to personal income taxes in an amount equal to incurred motor vehicle document fees for certain lower income, working poor, individuals. This tax credit is designed to assist the working poor in obtaining a new or used motor vehicle. Section 2 of this Act makes the change effective for the tax year in which the Secretary of Finance provides the Registrar of Regulations with notice that the personal income tax release of the Integrated Revenue Administration System is implemented. This delay in effective date is necessary to ensure that tax law changes can be properly and efficiently implemented in the Division of Revenue's modernized Integrated Revenue Administration System, which is currently under development.