Income tax, state; reduces imposition of personal tax by increasing maximum income within bracket. (SB570)
Introduced By
Sen. Bryce Reeves (R-Spotsylvania) with support from co-patron Del. Mark Cole (R-Fredericksburg)
Progress
✓ |
Introduced |
✗ |
Passed Committee |
☐ |
Passed House |
☐ |
Passed Senate |
☐ |
Signed by Governor |
☐ |
Became Law |
Description
Personal income tax relief. Reduces imposition of the personal income tax by increasing the maximum income within each bracket by $1,000 and phasing out the lowest income bracket. Beginning January 1, 2017, the four brackets would be: 0% on the first $4,000 of income, 3% on income in excess of $4,000 but not in excess of $6,000, 5% on income in excess of $6,000 but not in excess of $18,000, and 5.75% on income in excess of $18,000. Read the Bill »
Outcome
Bill Has Failed
History
Date | Action |
---|---|
01/13/2016 | Prefiled and ordered printed; offered 01/13/16 16100303D |
01/13/2016 | Referred to Committee on Finance |
02/01/2016 | Impact statement from TAX (SB570) |
02/09/2016 | Passed by indefinitely in Finance (11-Y 4-N) (see vote tally) |