Income tax, state; rate of taxation. (SB788)
Introduced By
Sen. Glen Sturtevant (R-Midlothian) with support from co-patron Sen. Amanda Chase (R-Midlothian)
Progress
✓ |
Introduced |
✗ |
Passed Committee |
☐ |
Passed House |
☐ |
Passed Senate |
☐ |
Signed by Governor |
☐ |
Became Law |
Description
Individual income tax; rate of taxation. Lowers the rate of taxation for each income bracket by one-quarter percent each year for four years beginning in taxable year 2018. For taxable years beginning on and after January 1, 2021, income will be taxed as follows: (i) one percent on income not exceeding $3,000, (ii) two percent on income in excess of $3,000 but not in excess of $5,000, (iii) four percent on income in excess of $5,000 but not in excess of $17,000, and (iv) 4.75 percent on income in excess of $17,000. Read the Bill »
Outcome
Bill Has Failed
History
Date | Action |
---|---|
08/22/2016 | Prefiled and ordered printed; offered 01/11/17 17100191D |
08/22/2016 | Referred to Committee on Finance |
01/17/2017 | Impact statement from TAX (SB788) |
01/24/2017 | Passed by indefinitely in Finance (15-Y 1-N) (see vote tally) |