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Published February 12, 2013, 07:34 AM

$400 tax credit fails

A bill to provide a $400 tax credit to every taxpayer over 18 living in the state during the 2014 calendar year failed on the House floor 24-62. House Bill 1223, sponsored by Rep. Eliot Glassheim, D-Grand Forks, would have reduced the state’s general fund revenue by $212 million and required a $100 million appropriation.

A bill to provide a $400 tax credit to every taxpayer over 18 living in the state during the 2014 calendar year failed on the House floor 24-62.

House Bill 1223, sponsored by Rep. Eliot Glassheim, D-Grand Forks, would have reduced the state’s general fund revenue by $212 million and required a $100 million appropriation.

The bill was said to be in violation of the state constitution in reference to allocating funding out of the general fund.

“We came down knowing a portion of the surplus would have to be given back, point of session is how much, or how?” Glassheim said, referring to the state’s budget surplus.

He said the bill was “prudent, flexible and transparent,” giving money back that is already in the state’s coffers.

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