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Conferees accept House income-tax trigger structure with lower Budget Stabilization Fund target
2757722 · March 25, 2025
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Summary
Conferees agreed to incorporate the House package for income and privilege tax reductions and formulas tied to State General Fund receipts, with a compromise Budget Stabilization Fund target of 15 percent instead of 20 percent.
Conferees on Committee on Taxation agreed to include the House version of the income- and privilege-tax reduction package (House Bill 02/2018) in the conference package with a single substantive modification: a Budget Stabilization Fund requirement of 15 percent instead of the House's higher target.
The draft language…
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