House adopts latest income tax repeal proposal
As we get to the last few days of the session, the House is bringing forward a new proposal to eliminate the income tax.
The newest proposal is a $100 million buy down of the income tax rate until it has been eliminated. Speaker of the House Philip Gunn noted that is 1.5 cents on a dollar or 10 percent of excess revenue that the state currently enjoys.
There is a six-year repealer on the House proposal, which has been delivered to the Senate in a signed conference report.
Saturday is the deadline for conference reports to be filed with Sine Die scheduled for April 3.