Public utilities: public service commission; certain provisions regarding rate cases and integrated resource plans; revise.
Economic development: brownfield redevelopment authority; tax capture revenues; modify.
To authorize more cash subsidies to particular developers and business owners selected by state administrators. Developers would get to keep sales taxes generated by businesses in the buildings they build as well as income taxes from residents and taxes generated during the construction of the building. The law increases amount of taxes that developers can collect from a total of $800 million to $1.6 billion.
Appropriations: school aid omnibus; appropriations in the school aid act for fiscal year 2023-2024; provide for. Amends, adds & repeals (See bill).
Appropriations: department of labor and economic opportunity; appropriations for fiscal year 2023-2024; provide for.
Appropriations: department of health and human services; appropriations for fiscal year 2023-2024; provide for.
Appropriations: higher education; appropriations for fiscal year 2023-2024; provide for.
Appropriations: community colleges; appropriations for fiscal year 2023-2024; provide for.
Appropriations: transportation department; appropriations for fiscal year 2023-2024; provide for.
Appropriations: supplemental; appropriations for multiple departments for fiscal years 2021-2022 and 2022-2023; provide for.
Adds $1.338 billion in spending, of which $828.6 million comes from state taxpayers and $499.6 million comes from federal taxpayers. The largest expenditures from state taxpayers are for selective business subsidies, with $470 million going to a program that offers site preparation and direct subsidies to companies, and $330 million going support a deal for Ford in Marshall.
Individual income tax: retirement or pension benefits; limitations and restrictions on deductions of certain retirement or pension benefits and revenue distribution to state school aid fund; revise.
Phases in an exemption for pension income from state income taxes.
Upon Senate passage: Exempts $56,961 of pension, social security or other annuity income from state income taxes for single filers and twice as much for joint filers. Increase the amount of income taxes earmarked to school purposes.
