Video & Transcript Research : 'tax deductions'

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AL

Alabama 2025 Regular Session

Alabama House Financial Services Committee Feb 19th, 2025

Financial Services

Transcript Highlights:
  • This is important for tax purposes as we need to get this bill moved and through.
  • What this bill does is take our laws back for the deduction of research expenses and experimental expenditures
  • It allows companies that spend money on that to take those deductions in the... ...to take those deductions
  • Then, replace lines 38-40 on page two with the following: Section one... ...Section one, effective for tax
  • years beginning on or after January 1, 2024, research and experimental expenditures for Alabama tax
Bills: HB163
AZ

Arizona 2026 Regular Session

02/05/2026 - Senate Finance

Finance

Transcript Highlights:
  • Additionally, the amendment couples with the federal standard deduction for tax year 2025 only.
  • Additionally, the amendment couples with the federal standard deduction for tax year 2025 only.
  • It still retains the $6,000 deduction for seniors, no tax on tips, no tax on overtime, and it still increases
  • It still retains the $6,000 deduction for seniors, no tax on tips, no tax on overtime, and it still increases
  • on tips, no tax on overtime, or the senior deduction.
Bills: SB1638
Summary: The Senate Finance Committee took up SB 1638, a tax conformity bill that would update Arizona’s tax code to the Internal Revenue Code as of January 1, 2026 and incorporate federal changes from 2025. The bill also included individual income tax subtractions for tips, overtime, seniors, and auto loan interest, along with changes to the standard deduction and charitable contribution deduction. Committee discussion focused heavily on whether Arizona should conform broadly to federal changes or limit the bill to more targeted, temporary provisions. Two amendments were considered. The chair’s amendment was described as clarifying only, addressing retroactivity and foreign dividend language, and it was adopted. Senator Epstein’s amendment would have removed the broader conformity provisions and the modified charitable deduction, limited the standard deduction change to tax year 2025, and kept the individual subtractions; she argued the business-related conformity items mainly benefited corporations and should be negotiated in the budget. Opponents said the amendment would create unnecessary recalculations and uncertainty for taxpayers and businesses, while supporters of the underlying bill said conformity was needed quickly to match Department of Revenue forms and avoid filing-season confusion. Epstein’s amendment failed. Public testimony split along similar lines. Business and tax group representatives supported prompt conformity, saying taxpayers and small businesses needed certainty and that the department’s forms should be codified. Opponents argued the bill would reduce state revenue substantially and mainly benefit higher-income taxpayers and corporations, while diverting money from education, child care, and health care. After debate, the committee voted to move SB 1638 as amended with a do-pass recommendation, passing it by about 4-3, and then adjourned.
AL

Alabama 2025 Regular Session

Alabama Senate Finance and Taxation General Fund Committee Feb 5th, 2025

Finance and Taxation General Fund

Transcript Highlights:
  • If I'm 52 years old, then I'm going to get taxed and penalized and all that eventually.
Bills: SB86
OK

Oklahoma 2026 Regular Session

Revenue and Taxation Apr 20th, 2026 at 02:00 pm

Revenue and Taxation

Transcript Highlights:
  • I saw that this has almost a million dollars drop in sales tax revenue.
  • Estate sales tax loss, I don't have any numbers on what it would be locally.
  • The interest earned on these accounts is also exempt from income tax.
  • Looks like there's no offsets There's no tie-in to what the actual deductibles will be.
  • Then how would that particular piece of money be taxed? Thank you for that question.
HI
Transcript Highlights:
  • a general excise tax number. a general excise tax number.
  • This disallows the home mortgage interest deduction for second homes under state income tax law.
  • <00:22:25.520> deductions<00:22:26.160> for know, increased tax deductions for know
  • , increased tax deductions for purchasing<00:22:27.520> a<00:22:27.600> home.
  • interest deduction on second homes. interest deduction on second homes.
Summary: The House Housing Committee heard testimony on several housing-related bills. HB 1743 would expand the owner-builder exemption by repealing a leasing restriction and requiring notice when a leased residential structure was built by an unlicensed contractor. Subcontractors Association of Hawaii and the Contractors Licensing Board opposed the bill, warning it could encourage unlicensed contracting and weaken consumer protections, while Hawaii Realtors, Housing Hawaii’s Future, Grassroot Institute of Hawaii, BIA Hawaii, and others supported it as a way to increase housing flexibility. After questions about whether licensed electrical and plumbing work would still be required, the committee voted to pass HB 1743 with amendments and a defective date. The committee also heard and advanced HB 2122 HD1 on teacher housing, which would create a teacher housing assistance program using vouchers from the teachers housing revolving fund. Testimony included support from the Chamber of Commerce of Hawaii, Housing Hawaii’s Future, the Democratic Party of Hawaii Education Caucus, and individuals, with the Office of Collective Bargaining in opposition and the Department of Education offering comments. The bill was voted out as is. The committee then considered HB 1756 and HB 1837, both updating the individual housing account program to reflect current housing prices; supporters including Housing Hawaii’s Future and the Office of Hawaiian Affairs said the limits were outdated and needed inflation adjustments, and HB 1756 was passed with amendments while HB 1837 was deferred as nearly identical. HB 1729 would disallow the state home mortgage interest deduction for second homes. Hawaii Realtors opposed it, while Housing Hawaii’s Future supported it as a way to prioritize first-time homebuyers and reduce competition from second-home buyers. The chair noted a possible revenue savings estimate and the committee passed the bill with amendments, with several reservations. Finally, HB 2559 would prohibit real estate brokers from marketing residential property to limited exclusive groups of buyers, which the Office of Consumer Protection said needed an enforcement clarification and the Realtors said could affect some legitimate private-listing situations. The chair proposed replacing the outright ban with a disclosure requirement for private listings, and the committee passed HB 2559 with amendments. The hearing then adjourned after the chair thanked members, staff, and the public.
AZ

Arizona 2026 Regular Session

02/04/2026 - House Ways & Means

Ways & Means

Transcript Highlights:
  • It includes the $6,000 senior deduction. It fully conforms to the Trump tax cuts.
  • tax filers who file with the standard deduction, and that is included in this bill.
  • This bill includes additional deductions for no tax on tips, no tax on overtime.
  • This bill includes a $6,000 new tax deduction for seniors.
  • This bill includes a $6,000 new tax deduction for seniors, and the list goes on.
Summary: The committee first heard House Bill 2785, a tax conformity measure that would update Arizona statutes to conform to the Internal Revenue Code as of January 1, 2026, including retroactive provisions for tax year 2025. The sponsor and supporters said the bill would align state law with tax forms already issued by the Department of Revenue, provide certainty to filers, and deliver about $440 million in tax relief through provisions such as no tax on tips and overtime, a larger standard deduction, and a $6,000 senior deduction. Opponents argued the bill would significantly reduce state revenue, disproportionately benefit higher-income taxpayers, and should be considered alongside a broader budget plan. After debate and an amendment addressing retroactivity and foreign dividends, the committee approved HB 2785 on a 5-4 vote. The committee then took up several Arizona State Retirement System and education savings bills. HB 2089 clarified the health insurance premium benefit subsidy for retirees and passed unanimously. HB 2090 changed the disability determination period for long-term disability benefits from 24 months within a five-year period to a straight 24-month period and passed 8-1. HB 2092 allowed employees over age 65 to waive ARS participation within 30 days of becoming eligible and also passed 8-1. HB 2477 conformed Arizona’s 529 education savings plan to federal law, including expanded uses and a permanent rollover to ABLE accounts and Roth IRAs; testimony supported the cleanup and simplification, but some members raised concerns about the Roth rollover and possible use of transferred ESA funds. HB 2477 passed 5-3 with one present vote, and the committee then adjourned.
FL

Florida 2026 Regular Session

Finance and Tax Feb 12th, 2026

Finance and Tax

Transcript Highlights:
  • The Committee on Finance and Tax will now come to order. Stephanie, please call the roll.
  • for the missing middle property tax exemption for one year.
  • ' monthly excise tax.
  • and in the assessment of these taxes.
  • This bill updates Florida's property tax exemption...
Summary: The Committee on Finance and Tax met with a quorum present and heard several bills, most of them focused on tax policy and property-related exemptions. CS/SB 118 clarified how non-ad valorem special assessments apply to recreational vehicle parks, and an amendment removed a requirement that local governments consider RV park occupancy rates when apportioning assessments. The bill was supported by a Florida Retail Federation representative and was reported favorably. The committee also reported favorably on SB 1520, which modifies Live Local Act property tax exemption provisions by extending the vesting period for the missing middle exemption and expanding the data used for local government opt-outs; SB 678, which reestablishes the framework allowing distributors to deduct unsellable alcohol from monthly excise tax; and CS/SB 680, which creates a sales tax exemption to address double taxation on electricity used at EV charging stations. Each of these bills had support from industry or trade groups, and CS/SB 680 drew comments from Senator Gaetz praising the bill as a solution to prior tax collection confusion. The committee then approved CS/SB 450, which updates property tax exemption rules for surviving spouses of permanently and totally disabled veterans by allowing transfer of a larger portion of the exemption to a new homestead; an amendment raised the transferable amount to up to 120% of the prior exemption. The final bill, CS/SB 1074, was amended to establish uniform rules for rounding cash transactions to the nearest nickel in light of the Federal Reserve’s suspension of penny distribution, while preserving tax calculations and providing liability protections; it also included safeguards for pawn and recycling transactions. All bills considered were reported favorably, Senator Gaetz asked to be recorded as voting yes on all bills, and the committee adjourned without objection.
AL

Alabama 2025 Regular Session

Alabama House Ways and Means Education Committee Mar 19th, 2025

Ways and Means Education

Transcript Highlights:
  • This is an optin only dealing with the state taxes here. Uh dealing with the state taxes here.
  • We appreciate it. taxes on Alamians. We appreciate it. taxes on Alamians. We appreciate it.
  • pays taxes in the state, you will be able to get a credit on your taxes.
  • Just able to get a credit on your taxes. Just able to get a credit on your taxes.
  • Any other it's a tax. Thank you. Any other it's a tax. Thank you. Any other comments or questions?
Bills: SB199, HB142, SB86, HB152, HB297, SB1, SB1
AL

Alabama 2025 Regular Session

Alabama Senate Finance and Taxation Education Committee Apr 23rd, 2025

Finance and Taxation Education

Transcript Highlights:
  • One of their biggest financial burdens is the gas tax and the electricity tax. So, Mr.
  • This goes back to the Tax Cuts and Jobs Act.
  • 7.2... fiscal note for Alabama of roughly 7.2 million plus, and it'll be a decrease on the federal taxes
  • If the 100% disabled person dies, then whoever the spouse is would start paying the property tax.
  • So you... start paying the property tax. So you... does that make sense, Senator?
AL

Alabama 2025 Regular Session

Alabama Senate Finance and Taxation General Fund Committee Mar 5th, 2025

Finance and Taxation General Fund

Transcript Highlights:
  • Existing law allows for tax… Existing law allows for tax credits to support the A.B.L.E. deductions.
  • An important part of this is to have a tax deduction; it's just like the...
  • A tax deduction, it's just like the college council program.
  • It's a tax deduction of $5,000 for single filing and $10,000 for joint filing.
  • Section 17-75 in the first line, which prohibits organizations from payroll deductions from political
Bills: HB52, HB89, HB141, HB52, HB89, HB141
FL

Florida 2026 Regular Session

Regulated Industries Jan 20th, 2026

Regulated Industries

Transcript Highlights:
  • monthly excise tax.
  • monthly excise tax.
  • The Department of Business and Professional Regulations, Thank you. monthly excites tax.
  • In Grant County, Washington, property tax revenues have climbed 1,277% to $54 million.
  • Tax-wise?
Summary: The Committee on Regulated Industries considered several bills and took final action on each. SB 986, by Senator Gruters and presented by Senator Rodriguez, would prohibit smoking or vaping marijuana in public places and in certain indoor spaces; restaurant and lodging representatives supported adding marijuana and vaping to clean indoor air rules but asked to preserve designated smoking areas on private property, while cannabis advocates warned the bill was overly broad and could affect patients and property rights. The committee voted the bill favorably. SB 678, by Senator Mayfield, would restore statutory authority for DBPR to continue allowing alcohol distributors to deduct unsellable alcohol from monthly excise tax calculations; the committee adopted a strike-all amendment and reported the committee substitute favorably. SB 800, also by Senator Mayfield, increases penalties for repeated unlicensed engineering practice and creates an engineering student loan assistance program for engineers working for state agencies and water management districts; after adopting an amendment clarifying eligibility, the committee reported the bill favorably. The committee then heard SB 408, by Senator Grall, which would create a Florida cause of action against vaccine manufacturers that advertise in the state, allowing injured individuals to sue in Florida courts. Supporters argued the bill would rebuild public trust and hold manufacturers accountable, while opponents from the Florida Justice Reform Institute, American Tort Reform Association, BIO, the U.S. Chamber Institute for Legal Reform, and several medical and business groups argued the field is largely preempted by federal law, that existing federal compensation programs already address vaccine injuries, and that the bill raises First Amendment and policy concerns. After debate focused on vaccine injury data, compensation rates, and liability, the committee voted SB 408 favorably. The committee also considered SB 484 and SB 1118, both by Senator Avila, dealing with data centers. SB 484 would preserve local planning authority, bar nondisclosure agreements that prevent disclosure of potential data center development, require the PSC to set large-load tariff requirements so data centers pay their own costs, and limit consumptive use permits for large-scale data centers absent no harm to water resources and compliance with local zoning; supporters emphasized ratepayer protection and economic development, while some witnesses urged flexibility for behind-the-meter projects and confidentiality in negotiations. The bill was reported favorably. SB 1118 would create a time-limited public records exemption for county or municipal information about data center siting and protect proprietary business information; Senator Pizzo raised concerns about how the exemption would affect disclosure of competing projects and local officials’ ability to speak, but the sponsor said he would work on clarifying the language. The committee also passed SB 1050, by Senator Calatayud, which requires veterinarians to provide pet owners with written prescriptions and information about pharmacy choice while preserving veterinary judgment and emergency dispensing authority. The meeting concluded after all bills were reported favorably and members recorded additional votes on prior items.
OK

Oklahoma 2026 Regular Session

Rules REVISED Apr 20th, 2026 at 09:00 am

Rules

Transcript Highlights:
  • In order to raise revenue, there was a change to the capital and state income tax deductions.
  • And then actually losing money, they end up paying state income taxes because they're not able to deduct
  • The losses are on the losses side, but they end up paying taxes because they're not able to deduct those
  • school tax credit.
  • tax bill of $7,500.
OK
Transcript Highlights:
  • Look at the price of coverage premiums and the deductibles and the cost of health care in general, it's
  • Right now, we don't have any tax deductions or any other incentives on there, but just trying to get
  • the framework so that people can start saving for home and auto repairs to hopefully raise their deductibles
HI
Transcript Highlights:
  • Tax Foundation of Hawaii with comments. Not present.
  • <00:08:32.880> Tax<00:08:33.200> Foundation<00:08:33.599> of<00:08:33.760>
  • Tax Foundation of Hawaii with >> Thank you. Tax Foundation of Hawaii with comments.
  • LITC or low-inccome housing uh tax LITC or low-inccome housing uh tax approach<01:00:18.261> [snorts
  • This is really just a tax on housing for essentially no purpose because the funds are so difficult to
Summary: The committee heard testimony on HB 1604, which would create an agricultural workforce housing group within the Department of Agriculture and Biosecurity to address shortages of farmworker housing. The department said it supported the bill’s intent but emphasized that the group’s early work should focus on gathering data and surveying farm operators to assess actual demand, to avoid “mission creep.” Testimony from the City and County of Honolulu Office of Economic Revitalization, Hawaii Farmers Union, Hawaii Farm Bureau, Housing Hawaii’s Future, and the Maui Chamber of Commerce was in support, with one witness suggesting a housing advocacy nonprofit be added to the working group for balance. The committee then discussed HB 1713 on school impact fees, which would clarify exemptions for certain affordable housing projects and exempt new residential developments of fewer than 100 units. The Attorney General’s office said the bill should define “low to moderate income households” because that term is not defined in chapter 302A. HHFDC, the School Facilities Authority, Grassroot Institute of Hawaii, and others supported the measure, arguing it would reduce administrative burden and remove barriers to housing. Members questioned whether the bill should instead repeal the school impact fee entirely; supporters said they also favored full repeal but viewed this bill as a more feasible step. The School Facilities Authority also explained that about $28 million in school impact fees had been collected across four districts and none had yet been spent, and discussed how recent nexus requirements limit how the funds can be used. HB 1722, relating to residential condominiums, drew extensive testimony and questioning. HCDA supported the bill and explained that it amends the 99-year leasehold pilot program created by Act 97 of 2023 by reducing owner-occupancy restrictions from 100% of units to 60%, allowing some rental or subleasing flexibility for the owner-occupied units, and permitting up to 40% of units to be sold to qualified residents after being on the market for more than 60 days. HCDA said the original restrictions, combined with rising construction costs, higher interest rates, and competition from nearby projects, made the pilot project difficult to market and finance; it said the changes are needed to make the project feasible and competitive. Supporters including AP Hawaii, Kila LLC, and project representatives said the amendments would help make the demonstration project in Kakaʻako viable. Some members raised concerns that the changes could weaken long-term affordability and questioned why certain ownership language was being deleted if rentals would still be restricted. No votes or final committee actions were taken in the portion of the hearing provided.
MN

Minnesota 2025-2026 Regular Session

House Taxes Committee 3/18/25

Taxes

Transcript Highlights:
  • taxing lodging taxes in the taxing jurisdiction<00:20:03.159> and<00:20:03.440> sections
  • <00:25:58.320> tax some of the erosion of their tax tax some of the erosion of their tax tax
  • this tax increase we would pay more tax this tax increase we would pay more tax to<00:46:40.359>
  • tax credits so that the sort of I tax tax credits so that the sort of I think<01:12:27.280> that<
  • <01:21:06.360> tax clients are eligible for these tax tax clients are eligible for these tax
Bills: HF2274, HF1932
TX

Texas 89th 1st C.S.

Local Government Aug 1st, 2025

Local Government

Transcript Highlights:
  • tax bill?
  • When you look at the tax years 2005 to 2019, the statewide taxes, property taxes, were growing at nearly
  • Tax rates matter. Yes, and property taxes for industrial property taxes.
  • Tax rates matter. Yes, and property taxes for industrial property taxes.
  • Compared to property taxes? Property taxes are 48% of our general revenue. Sales tax, 27%.
Bills: SB9
Summary: The Senate Committee on Local Government met to hear Senate Bill 9, which would lower the voter-approval tax rate for certain local taxing units from 3.5% to 2.5%. Sen. Bettencourt, the bill author, argued the change would continue the state’s property tax reforms begun in 2019, slow local levy growth, and give voters more say over larger tax increases. He and supporters cited data showing property tax levies have grown faster than population plus inflation, and said the bill would help protect taxpayers while preserving the state’s broader investments in school tax relief, water, rural law enforcement, and ambulance funding. Supporters included the Texas Taxpayers and Research Association, the Texas Association of Business, the Texas Public Policy Foundation, and the Texas Association of Manufacturers. They said the bill would improve transparency, encourage more disciplined budgeting, and create certainty for homeowners and businesses. They argued that lower tax-rate growth would help attract and retain employers and investment, and that voters would still be able to approve higher rates when needed. Local officials and other opponents said the bill would constrain cities and counties facing rapid growth, inflation, infrastructure needs, and public safety costs. Testimony from county judges, city finance officials, firefighters, and urban county representatives emphasized pressures from jail operations, roads, water, EMS, police and fire staffing, and unfunded mandates. Several witnesses asked for carve-outs or exemptions for public safety and disaster-related costs, warning that a one-size-fits-all cap could force service cuts or shift costs elsewhere. The committee heard extensive questioning but no final vote or disposition on the bill was taken in the portion provided.
MN

Minnesota 2025-2026 Regular Session

House Taxes Committee 2/25/26

Taxes

Transcript Highlights:
  • But each new addition, subtraction, and deduction due to non-conformity will add complexity to our tax
  • /c> the deduction, the senior deduction of the deduction, the senior deduction of $6,000.<00:18:59.760
  • Currently, bonus depreciation will expire, and the percentage deduction is, I believe, for tax year 2026
  • in in OB uh was by eliminating a this in in OB uh was by eliminating a deduction deduction deduction
  • tax.
Bills: HR1, HF387