Ways & Means Committee – Week 18, 2021
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Division I – Removal of triggers for Contingent Income Tax System
This would remove the “triggers” that must be met to move to the contingent individual income tax system established under SF 2417 in 2018, and make the new system effective for Tax Year 2023. Under SF 2417, the contingent tax system only goes into effect after TY 2023 when two conditions are met: General Fund net receipts for FY22 (or after) exceed $8.31 billion; and net General Fund receipts for that year grow at least 4% above the year prior (equal to or more than 104% of previous year’s net receipts).
SF 619/SSB 1276 – Omnibus tax policy/Mental health funding Division I – Removal of triggers for Contingent Income Tax System This would remove the “triggers”
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During this time, we have become more aware than ever how vitally important a safe and affordable place to call home can be. Today, a home is not only where we rest our heads at night but it is also where children receive much of their education and many adults either work or take refuge from the danger created by this rampant virus.
Arlington expects to receive $46M in federal assistance through the American Rescue Plan. Using these funds, the County Board should make the following changes to the FY22 budget:
Increase Investment in AHIF and Realign Income Levels Served
New Updates on The Edge
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The Edge, provides you with a snapshot view of our newly released research, periodicals, publications, news, and commentaries on housing and urban development issues. Stay informed on current topics and check back frequently, as our content is routinely updated.
In the leadership message, director of PD&R’s International and Philanthropic Affairs Division Cynthia Campbell discusses the work that several philanthropic and community foundations have been doing to advance racial equity in the United States. Campbell provides information about major foundations commitments towards grantmaking projects, fellowship programs, and trust funds, and highlights three community foundations.