House of Representatives

HB 2459

sales tax; charitable organization

(now: income tax subtraction: holocaust victims)

Sponsors: Representatives Marsh, Groscost

DPA	Committee on Ways and Means
DPA	Caucus and COW
DPA	As Passed the House
X S/e	As Transmitted to the Governor

HB 2459 allows a taxpayer or their descendants or heirs who receive reparation payments made to victims of the Nazi Holocaust to subtract those payments from their individual income tax.

History

The amendment to H.B. 2459 provides an income tax subtraction to a taxpayer (or the taxpayer’s decedents or heirs) who receive reparations payments from any source made to victims of the Nazi Holocaust. Additionally, it excludes any income received as a holocaust reparation payment from consideration when determining income eligibility for a state program.

The Department of Revenue anticipates very little, if any, fiscal impact from the provisions of this measure.

Provisions

· Allows a taxpayer (or the taxpayer’s descendants or heirs) who receive reparation payments made to victims of the Nazi Holocaust to subtract those payments from their individual income tax to the extent that the income is not already excluded under federal law.

· Excludes any income received as a Holocaust reparation payment from consideration when determining income eligibility for a state program.

· Provides for a retroactive effective date of from and after December 31, 1999.

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· 44th Legislature Analyst Initials _______

· Second Regular Session May 2, 2000

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