SB 132 - Kraus, Will
Lowers the income tax rate
Bill Details
Sponsor
LR Number
0032S.01I
Title
SB 132
House Handler
N/A
Journal Page
Effective Date
August 28, 2017
Committee
Current Status
Second Read and Referred S Ways and Means Committee
Quick Links
Amendments
No amendments available
CURRENT BILL SUMMARY
SB 132 - Currently, the top rate of tax on personal income is being reduced over a period of years. Each year that a general revenue growth trigger is met, the top rate will be reduced by 0.1%. The top rate will continue to be reduced until the it is lowered from 6% to 5.5%. This act increases the amount by which the top rate will be reduced. Each year the trigger is met, the top rate will be reduced by 0.2%. The top rate will continue to be reduced until it is lowered to 5%.
This act is identical to provisions in SB 574 (2016) and SB 4 (2015).
JOSHUA NORBERG