In order to stimulate local economic activity, advance racial equity, and promote economic stability and well-being for lower income working people, HB1297 updates and simplifies the structure of the working families tax exemption that would be provided to eligible low-income persons for sales taxes paid under this chapter after January 1, 2022.
Definitions and eligibility requirements are delineated, including tax remittance amounts based on family size.
Among other provisions, the department shall, in conjunction with other agencies or organizations, design and implement a public information campaign to inform potentially eligible persons of the existence of, and requirements for the working families tax exemption.
The department also must work with the internal revenue service to administer the exemption on an automatic basis as soon as practicable.