Bill > H4104

This bill aims to improve the Commonwealth's competitiveness, affordability, and equity through a series of tax-related changes. Key provisions include: Increasing the rental property tax exemption for affordable housing units, raising income tax deductions and credits (e.g., for student loan assistance, dependent care, energy efficiency upgrades), and expanding tax credits for housing development projects and manufacturing corporations. The bill also modifies the apportionment formula for financial institution and business corporate taxes, and makes changes to the estate tax. Additionally, the bill directs the Department of Revenue to analyze the feasibility of implementing an elective entity-level tax on pass-through entities. Overall, the bill seeks to provide tax relief and incentives to support housing affordability, economic competitiveness, and individual taxpayers in the Commonwealth.