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ID H0330
Bill
Status
3/27/2017
Primary Sponsor
Ways and Means Committee
Click for details
AI Summary
House Bill 330 Summary
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Reduces individual income tax rates by 0.1% across all tax brackets for taxable year 2017 and thereafter, with top marginal rate decreasing from 7.4% to 7.3%
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Reduces corporate income tax rate from 7.4% to 7.3% for taxable years beginning January 1, 2001 and after
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Revises the desired fund size multiplier for calculating the average high cost multiple under employment security law to 1.3 on and after January 1, 2018 (previously scheduled to increase to 1.4)
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Applies income tax changes retroactively to January 1, 2017, effective upon passage and approval
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Applies employment security changes effective July 1, 2017, with emergency clause declared
Legislative Description
Amends existing law to provide for a 0.1% decrease in individual and corporate income tax rates and to revise the average high cost multiple on and after January 1, 2018, for employment security law purposes.
TAXATION
Last Action
Reported Printed and Held at Desk
3/27/2017