SB 1194 Summary

• Establishes a freeze on the corporate income tax rate at 4.9 percent (or $50 minimum) unless the statewide high school graduation rate reaches at least 95 percent in the preceding school year.

• Requires the superintendent of public instruction to determine annually whether the 95 percent graduation rate goal has been met following each fiscal year.

• Superintendent must report findings to the governor, director of the department of revenue, president of the senate, and speaker of the house of representatives by December 1 of each fiscal year.

• Applies to taxable years beginning after December 31, 2019.