Relating to state revenue and finance by modifying individual income tax rates, exemptions, and credits, corporate income tax rates and credits, credits against the franchise tax, the insurance premiums tax, and the moneys and credits tax, and the tax expenditure committee, making contingent transfers from the taxpayer relief fund, and including effective date and applicability provisions. Contingent effective date. Contingent applicability date

Where it is now

1. ✓
   Done: IntroducedFebruary 7, 2022
2. –
   Skipped: SubcommitteeSkipped
3. ✓
   Done: House committeeFebruary 16, 2022
4. ✓
   Done: Passes the HouseFebruary 16, 202261–37
5. ✓
   Done: Senate committeeFebruary 17, 2022
6. ✓
   Done: Passes the SenateFebruary 24, 202232–16
7. ✓
   Done: To the GovernorMarch 1, 2022
8. ✓
   Done: Signed into lawMarch 1, 2022

Signed into law What’s a funnel?

Fiscal note

The Bill is projected to reduce individual and corporate income tax liability and State General Fund revenue by the amounts in Figure 2. 8$ * The tax reduction and retirement income components were estimated separately and in combination. This table presents the fiscal impacts separately, and the final line of the individual income tax portion of the table adjusts for the interaction of the two tax reductions.

• Final Fiscal Note — Income Tax Rate Reduction and Exemptions · June 23, 2022
• Income Tax Rate Reduction and Exemptions · February 24, 2022
• Income, Sales, and Tax Credit Modifications · February 16, 2022
• Income Tax Rate Reduction and Exemptions · February 10, 2022

Nonpartisan cost estimates from the Legislative Services Agency’s Fiscal Services Division. The newest is first. Reading a fiscal note

Family tree

Where this legislation came from and where it went: earlier tries, the versions it moved through this Assembly, and later bills built on it.

Earlier and later bills are matched by wording or an identical title; check the text to be sure it’s the same idea.