Senate Bill 1385

To reform the state and local tax system by (1) increasing the personal income tax rate from five per cent to five and one-quarter for joint filers; (2) eliminating the property tax credit to the income tax; (3) establishing a state refundable credit of twenty per cent of the federal earned income tax credit; (4) reducing the sales tax rate from six per cent to four and one-half per cent and eliminating all exemptions except groceries, prescription drugs, clothing, residential utilities, medical and legal expenses, sales for resale, sales to state or federal agencies, purchases by charitable organization and fuel purchases; (5) increasing tax on C corporations from $250 to $400; (6) adopting a unified gift and estate tax; (7) participating in the Streamlined Sales and Use Tax Agreement; (8) providing funds from the sales tax for joint performance of activities by two or more municipalities; and (9) establishing a spending cap on municipalities.

In the Senate

• PD

  Sponsor

l9n doesn't hold this bill's text yet.

In the Senate Mar 2 – Apr 18

1. Mar 2Introduced and sent to Planning and Development Committee
2. Mar 5Heard in Planning and Development Committee
3. Mar 23Planning and Development Committee recommended it
4. Apr 18Sent to Transportation Committee