SB 1281 – Raises the income tax by 1/2% and then phases it out over three years

• Sponsor: Childers
• LR Number: 4702S.01I
• Committee: Ways & Means
• Last Action: 3/9/2004 - Hearing Conducted S Ways & Means Committee
• Effective Date: Referendum

Current Bill Summary

SB 1281 - This act increases the income tax by 1/2% for one year, then lowers the increase to 1/4% for one year, then lowers the increase to 1/8% for one year, and finally returns the sales tax rate to the current levy.

The act has a referendum clause for November 2004, and an effective date of January 1, 2005, if approved by the voters.

JEFF CRAVER

Amendments

No Amendments Found.