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2024 Session

Budget Amendments - SB30 (Member Request)

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Chief Patron: Salim
Child Care Subsidy - 10% Tax Bracket on Income Over $1.0 million

Item 117 #7s

Item 117 #7s

First Year - FY2025 Second Year - FY2026
Education: Elementary and Secondary
Department of Education, Central Office Operations FY2025 $300,000,000 FY2026 $300,000,000 GF

Language
Page 121, line 46, strike "$515,129,653" and insert "$815,129,653".
Page 121, line 46, strike "$539,690,133" and insert "$839,690,133".


Explanation

(This amendment provides $300.0 million GF each year to the Department of Education for the Child Care Subsidy Program from a portion of the revenue generated by a 10 percent income tax on income in excess of $1.0 million. These funds will be used to increase state support for child care subsidies. A companion amendment in Part 4 imposes the tax.)