Ohio Approves Tax Incentives for Manufacturer That Would Create 1,200 Jobs
Fresh off of winning Intel's $20 billion project to make semiconductors in Licking County, the state is on the verge of landing another big project: a $900 million investment by a Chinese manufacturer of materials used in batteries that power electric vehicles and other products.
Record Neighborhood Revitalization Tax Credit Funding Awarded Across New Jersey
The New Jersey Department of Community Affairs announced $14.25 million in funding awards to 19 community-based nonprofit organizations across the state through the Neighborhood Revitalization Tax Credit Program. The nonprofit organizations will use the funding to implement revitalization plans that address housing and economic development, as well as complementary activities such as social services, recreation programs, employment training, and open space improvements.
Missouri House Passes Bill Providing a One-Time Tax Credit for Some Residents
According to the state's Department of Revenue, of the roughly 3.2 million Missourians who filed state income taxes, only around 1.4 million of them would receive their full tax credit amount. With the Missouri House leaving $1.8 billion in general revenue unspent when it sent its version of the state's budget to the Senate, members voted to use a billion of it for one-time, nonrefundable tax credits.
Reforms Could Help Oregon Families Missing Out on Millions in Tax Credits
Year in, year out, Oregon ranks at or near the bottom nationally in the share of families qualifying for the earned income tax credit who actually claim it. That's bad news not only for the working families missing out on the cash, but for the entire state, which loses out on federal dollars that would otherwise flow to our communities.
ARPA Tax Credit Expiration Will Increase Uninsured Population by 3M
The uninsured population may increase by more than 3 million if policymakers do not extend the premium tax credits under the American Rescue Plan Act. ARPA introduced premium subsidies for individuals and families on the Affordable Care Act marketplace. The legislation also expanded eligibility for these subsidies to individuals and families with incomes higher than 400 percent of the federal poverty level.
Nebraska Rural Development Tax Credit Increased
Additional tax incentives are available for certain livestock modernization or expansion projects and other qualifying rural Nebraska businesses under a bill passed by lawmakers. LB1261 increases the amount of tax credits available each year under the Nebraska Advantage Rural Development Act from $1 million to $10 million beginning in 2022.
HCR Completed $20M Affordable and Supportive Housing Development in Syracuse, NY
The New York State Homes and Community Renewal (HCR) Commissioner announced completion of a $20 million project to convert the historic St. Anthony of Padua Catholic School and Convent into an affordable and supportive housing development. The development now offers 54 homes for adults aged 55 and older with half of the apartments reserved for seniors in need of supportive services.
Ohio's Beginning Farmer Tax Credit Bill Moves Forward
The Ohio General Assembly has approved House Bill 95, which creates a beginning farmer tax credit to assist one generation of farmers to the next. The legislation will also allow for an income tax credit for established farmers as they sell or rent farmland, livestock, buildings, or equipment to beginning farmers who take a qualified financial management course.