A BILL for an Act to create and enact a new subdivision to subsection 2 of section 57-38-30.3 of the North Dakota Century Code, relating to an individual income tax deduction for a segal Americorps education award; and to provide an effective date.
SB2103 proposes to amend the North Dakota Century Code by creating a new subdivision that allows for an individual income tax deduction for the Segal AmeriCorps Education Award. This deduction would apply to the amount of the award that has been disbursed under federal law and included in the taxpayer's federal taxable income. The bill aims to provide financial relief to individuals who have served in AmeriCorps and received this education award, thereby encouraging participation in community service programs.
If enacted, SB2103 would modify the current tax code in North Dakota by introducing a specific deduction for AmeriCorps education awards. This change could potentially reduce the taxable income for eligible individuals, leading to lower state income tax liabilities. The effective date for this deduction would be for taxable years beginning after December 31, 2024, meaning it would not affect the current tax year but would apply to future filings.
The sentiment surrounding SB2103 appears to be neutral, as there have been no recorded votes or significant committee discussions available to indicate strong support or opposition. The bill was introduced but ultimately withdrawn, suggesting that it may not have garnered enough traction or interest among legislators to proceed further in the legislative process.
There are no notable points of contention documented in the available discussions or voting history for SB2103. The lack of recorded votes and committee discussions may indicate that the bill did not face significant debate or opposition, although the reasons for its withdrawal remain unclear.