HF4270 Summary

• Commissioner of revenue must distribute individual income tax refunds to all taxpayers by October 15, 2020.

• Married taxpayers filing jointly receive a refund equal to the lesser of their combined 2018 and 2019 tax liability or $2,000.

• All other taxpayers receive a refund equal to the lesser of their combined 2018 and 2019 tax liability or $1,000.

• Taxpayers with negative total liability in 2018 and 2019 receive no refund.

• An amount sufficient to pay all refunds is appropriated from the general fund to the commissioner of revenue in fiscal year 2021.