Personal Income Tax Law and Corporation Tax Law: deductions: accelerated depreciation for new manufacturing operations.

Legislative status

1. Introduced
2. In Committee
3. Reported by Committee
4. Floor Vote Scheduled
5. Passed One Chamber
6. Passed Both Chambers
7. Sent to Executive
8. Signed into Law

Summary

The bill lets qualifying manufacturers deduct either 50% or, in designated high‑need areas, 100% of the cost of new equipment in the year it’s placed in service, provided the equipment costs at least $1 million and is used in‑state for three years. It applies to tax years 2027‑2031 and requires a sworn certification and future reporting. The aim is to boost cash flow and attract investment, especially in distressed regions.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

Hearings

• Revenue and Taxation Committee Hearing
  Revenue and Taxation · Apr 27, 2026
• Revenue and Taxation Committee Hearing
  Revenue and Taxation · Apr 13, 2026
• Revenue And Taxation
  Revenue And Taxation · Apr 13, 2026

History

1. Apr 27, 2026In committee: Set, second hearing. Held under submission.
2. Apr 13, 2026In committee: Set, first hearing. Referred to REV. & TAX. suspense file.
3. Apr 6, 2026Re-referred to Com. on REV. & TAX.
4. Mar 26, 2026From committee chair, with author's amendments: Amend, and re-refer to Com. on REV. & TAX. Read second time and amended.
5. Mar 23, 2026Re-referred to Com. on REV. & TAX.
6. Mar 19, 2026Referred to Com. on REV. & TAX.
7. Mar 19, 2026From committee chair, with author's amendments: Amend, and re-refer to Com. on REV. & TAX. Read second time and amended.
8. Feb 20, 2026From printer. May be heard in committee March 22.
9. Feb 19, 2026Read first time. To print.

Sponsors

• Soria · sponsor

Bill text

Opens the legislature’s own copy.

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