2017 Session

Budget Amendments - SB900 (Member Request)

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Chief Patron: Sturtevant
Reduction of Individual Income Tax Rate (language only)

Item 0 #9s

Item 0 #9s



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"Official Revenue Estimates    







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(This amendment accompanies Senate Bill 788 which proposes reducing the rate of taxation for individual incomes one-quarter percent each year for four years beginning in taxable year 2018. This amendment assumes a GF revenue reduction of $450 million in FY 2018, staff's estimate of the revenue impact the first FY that the new, lower rate would be in effect. The estimate is based on a fiscal impact statement prepared for similar legislation that was proposed in 2016. The actual revenue impact is to be determined.)