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2017 Session

Budget Amendments - SB900 (Member Request)

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Chief Patron: Chase
Corporate Income Tax reduced to 2.5% (language only)

Item 0 #6s

Item 0 #6s

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

$18,531,685,985

$18,297,121,677

$36,828,807,662"

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

                

"Appropriation                          

$20,426,382,313

$20,229,404,911

$40,655,787,224

$20,158,140,254

$19,306,995,210

$39,465,135,464"



Explanation

(This amendment accompanies Senate Bill 835 which proposes lowering the corporate income tax rate from six percent to 2.5 percent, effective January 1, 2017. This amendment reflects a GF revenue reduction of $25.7 million in FY 2017 and $861.4 million in FY 2018.)