SB57: Relating to a tax credit for expenses related to journalism; prescribing an effective date.
Legislative Summary
The Act makes a new tax credit for subscribing to or giving to certain news publications. (Flesch Readability Score: 63.6). Creates an income tax credit for subscriptions to media news outlets and donations to certain journalism organizations. Prohibits a person from falsely advertising the availability of the tax credit. Allows the Department of Revenue to impose a civil penalty for violation. Applies to tax years beginning on or after January 1, 2025, and before January 1, 2031. Takes effect on the 91st day following adjournment sine die.
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Bill History
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