2019 Session

Budget Amendments - SB1100 (Member Request)

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Chief Patron: Dunnavant
Multiple Income Tax Changes (language only)

Item 0 #7s

Item 0 #7s



Page 1, strike lines 43 through 44 and insert:


"Official Revenue Estimates





(This amendment accompanies Senate Bill 1631 which would make multiple income tax changes, including doubling the standard deduction, reducing the corporate income tax to 5.5 percent, and creating subtractions for the amount of global intangible low-taxed income that is included in federal taxable income and the amount of business interest that is disallowed as a deduction from federal taxable income. This amendment assumes a general fund revenue reduction of $1.5 billion in the second year. The actual revenue impact is to be determined.)