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Bill > SB1549

OR SB1549

OR SB1549
Relating to a tax credit for political contributions; prescribing an effective date.

summary

Introduced
02/02/2026
In Committee
02/02/2026
Crossed Over
Passed
Dead

Introduced Session

2026 Legislative Measures

Bill Summary

The statement includes a measure digest written in compliance with applicable readability standards. Digest: The Act makes a bigger amount for the tax credit that is allowed for gifts of money to political parties or to people who run for office. (Flesch Readability Score: 60.3). Increases the maximum allowable amount of political contribution personal income tax credit. Applies to tax years beginning on or after January 1, 2026, and before January 1, 2028. Takes effect on the 91st day following adjournment sine die.

AI Summary

This bill increases the maximum amount of a tax credit that individuals can claim for voluntary monetary contributions made to political parties or candidates running for federal, state, or local office. Specifically, for joint tax returns, the maximum contribution eligible for the credit is raised from $100 to $2,000, and for other types of returns, it's increased from $50 to $1,000, with the credit still limited by the taxpayer's actual tax liability. This enhanced credit is available for tax years beginning on or after January 1, 2026, and before January 1, 2028, and the bill will become law 91 days after the legislative session concludes. Taxpayers with a federal adjusted gross income exceeding $150,000 on a joint return or $75,000 on any other return are not eligible for this credit, and proper receipts are required to claim it.

Committee Categories

Budget and Finance

Sponsors (1)

Last Action

Public Hearing held. (on 02/11/2026)

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