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Conferees in Committee on Taxation debate income-tax "floor" and 20% budget-stabilization requirement
Summary
Committee on Taxation conferees met to compare the House and Senate positions on legislation described in the meeting as an income-tax "trigger," covering Senate Bill 259 and House Bill 2318.
Committee on Taxation conferees met to compare the House and Senate positions on legislation described in the meeting as an income-tax "trigger," covering Senate Bill 259 and House Bill 2318. The House conferees proposed limiting the mechanism to income-tax receipts (rather than all State General Fund receipts), lowering an indicated rate floor from 4.5% to 4%, and including a requirement that the budget-stabilization fund hold 20%.
Eddie (staff member)…
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