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2025 Session

Budget Amendments - SB800 (Member Request)

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Chief Patron: Locke
Establish 10% Tax Bracket for Taxable Income Over $1.0 million (language only)

Item 0 #7s

Item 0 #7s

Revenues
Revenues

Language

Page 1, line 40, strike "$31,406,549,381" and insert "$33,226,549,381".

Page 1, line 40, strike "$62,054,985,843" and insert "$63,874,985,843"



Explanation

(This amendment increases the general fund revenue estimate by $1.82 billion each year to accompany a companion budget amendment in Part 4 that codifies a 10.0 percent tax bracket for taxable incomes over $1.0 million beginning in taxable year 2025. The actual revenue impact is to be determined.)