Includes municipal detention facility corporations as exempt from taxation, and requires that an amount equal to 27% of all tax that would have been collected if the property was taxable be paid to the municipality annually.
Allows a modification to federal adjusted gross income of twenty thousand dollars ($20,000) of social security income for tax years beginning on or after January 1, 2025.
Amends the Education Equity and Property Tax Relief Act to set the regionalization bonus at 2% of the state's share of foundation education aid for the fiscal year starting July 1, 2025, and for each year thereafter.
Establishes the office of inspector general as an independent administrative agency charged with the responsibility to investigate, detect, and prevent fraud, waste, abuse, and mismanagement in the expenditure of public funds.
Increases the state earned-income credit as of January 1, 2026 to seventeen percent (17%) of the federal earned-income credit, not to exceed the amount of state income tax.
Exempts from sales tax the trade-in values of motorcycles as well the proceeds received as a result of an unrecovered stolen or total loss of a motorcycle.