File Code: Taxes - Income
Crossfiled with: HOUSE BILL 1352
- Sponsored By:
-
Senators Pinsky and Jones
- Entitled:
-
Income Tax Reform - Revenues for Bridge to Excellence in Public
Schools
Establishing an Education Trust Fund to be used only to provide
funding for implementation of the Bridge to Excellence in Public
Schools Act; altering State income tax rates and rate brackets for
individuals, ranging from 0% on the first $3,000 of taxable income to
6.5% for income in excess of $333,333; providing separate rate
brackets applicable to joint returns; requiring the Comptroller to
distribute the additional income tax revenue resulting from the Act to
the Education Trust Fund; etc.
Senate Action
- 2/6
- First Reading Budget and Taxation
- 2/11
- Hearing 2/25 at 1:00 p.m.
House Action
- No Action
- Sponsored by:
- Senator Paul G. Pinsky, District 22
- Senator Verna L. Jones, District 44
- Bill indexed under the following Subjects:
- COMPTROLLER
- EDUCATION -see also- DRIVER ED; HIGHER ED; SPECIAL ED; etc
- INCOME TAX
- INTEREST
- PENALTIES
- PUBLIC SCHOOLS
- STATE AID
- Bill affects the following Statutes:
- Education
- (
5-201.1
)
- Tax - General
- (
2-608.2 ,
2-609 ,
10-105
)
- Bill Text:
First Reading (PDF),
Third Reading, Enrolled
- Fiscal Note:
Available (PDF)
- Amendments:
None offered
