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2017 Session

Budget Amendments - SB900 (Member Request)

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Chief Patron: Dunnavant
Change in personal exemption amounts (language only)

Item 0 #3s

Item 0 #3s

Revenues
Revenues

Language

Page 1, strike lines 44 through 45, and insert:                                                  

                

"Official Revenue Estimates    

$18,902,391,274

$19,633,121,954

$38,535,513,228

$18,557,385,985

$19,144,621,677

$37,702,007,662"

Page 2, strike lines 1 through 2, and insert:                                                      

                

"Appropriation                          

$20,426,382,313

$20,229,404,911

$40,655,787,224

$20,183,840,254

$20,154,495,210

$40,338,335,464"



Explanation

(This amendment accompanies Senate Bill 685 which proposes to increase the personal and dependent exemption from $930 to $1,000 and increase the blind or aged exemption from $800 to $900, beginning with tax year 2018. This amendment assumes a reduction in GF revenues of $13.9 million in FY 2018, based on the first year revenue impact of similar legislation introduced in 2016.)