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2014 Bill(s)

SCS HCS HB 1295
Sponsor: Koenig, Andrew
Status: S 3rd Read
Description: Phase in an income tax rate cut each year that state General Revenue tax collections grew by at least $100 million in any one of the prior three years -- eventually lowering the highest rate from 6 percent to 5 percent. Exempt business income from the personal income tax. Legislative staff estimate the provisions ultimately would cost the state $700 million in lost tax revenue for the state. The governor vetoed a similar bill, SB 253, in 2013. This is the voter-approval vehicle if the legislature cannot override this year's veto.
See: 
  • House roll call - HCS HB 1295 (02/20/2014): 3rd reading of a bill to phase in an income tax cut.
  • House roll call - HCS HB 1295 (02/19/2014): Perfection of a bill to phase in a cut in the state income tax rates.
  • The Fiscal Note(s)
  • Official legislative description and status

    • Note: The descriptions of bills, amendments and roll-call votes are written by MDN journalists. MDN's database may not include committee assignments of bills made on the last day of the session since it is too late for the committee to act on the bill and, thus, the delayed assignment has no practical effect.