HB 1364 Summary

• Changes the food/excise tax credit from refundable to nonrefundable, meaning it can only offset tax liability and cannot result in a refund to the taxpayer.

• Prohibits the food/excise tax credit from being used to offset tax liability under Title 14 (property taxes).

• Requires taxpayers to file a state income tax return to claim the food/excise tax credit; individuals with no income tax liability are no longer automatically eligible.

• Removes provisions allowing the credit to be claimed on amended returns after the taxable year and eliminates the $1 minimum threshold for refunds.

• Effective for taxable years beginning after December 31, 2023.