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2022 SESSION

• | print version

HB 289 Income tax, state; indexing brackets and exemptions.

Introduced by: Joseph P. McNamara | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Income tax; indexing brackets and exemptions. Starting with taxable year 2022, indexes income tax brackets, the personal exemption, and the additional personal exemption for the blind or the aged. The bill requires the indexing ratio to be based on any increase in the Chained Consumer Price Index for All Urban Consumers (C-CPI-U) compared with 2021 as a reference year; however, the indexing ratio shall not be less than zero and therefore does not function to reduce any bracket or exemption.

FULL TEXT

• 01/11/22  House: Prefiled and ordered printed; offered 01/12/22 22103394D  pdf | impact statement

HISTORY

• 01/11/22  House: Prefiled and ordered printed; offered 01/12/22 22103394D
• 01/11/22  House: Referred to Committee on Finance
• 01/19/22  House: Assigned Finance sub: Subcommittee #1
• 02/07/22  House: Subcommittee recommends laying on the table (7-Y 2-N)
• 02/15/22  House: Left in Finance