HB 3385
Allows personal income taxpayers to subtract from taxable income amounts received from tax-exempt entity and paid toward mortgage loan in arrears, if during tax year taxpayer becomes unemployed and held position paying less than 80 percent of area median income.
| Status | In House Committee (HREV) |
| Sponsors | Raquel Moore-Green (Republican) (Chief) |
| Fiscal impact | May have fiscal impact, but no statement yet issued |
| Revenue impact | May have revenue impact, but no statement yet issued |
Bill Text
Allows personal income taxpayers to subtract mortgage assistance payments from taxable income if they become unemployed while earning below 80 percent of area median income.
Overview#
Allows personal income taxpayers to subtract from taxable income amounts received from tax-exempt entity and paid toward mortgage loan in arrears, if during tax year taxpayer becomes unemployed and held position paying less than 80 percent of area median income. Applies to payments received in tax years beginning on or after January 1, 2020, and before January 1, 2022. Takes effect on 91st day following adjournment sine die.
Legislative History
| Date | Chamber | Action |
|---|---|---|
| 2021-03-22 | H | First reading. Referred to Speaker's desk. |
| 2021-03-29 | H | Referred to Revenue. |
| 2021-06-26 | H | In committee upon adjournment. |