Repeal and Subject to Referendum in 2018 the Fund To Advance Public Kindergarten to Grade 12 Education and the 3 Percent Income Tax Surcharge

Last updated: May 15, 2017

Details about this bill
Category: Taxation
Status: Defeated
Sponsor: Representative Heather Sirocki, House 28
Session: 128
Bill #: LD 851

Position:

Monitoring.

UPDATE: This bill was voted Ought Not to Pass.

Summary:

Part A of this bill repeals the 3% surcharge imposed on taxable individual income over $200,000 for tax years beginning in or after 2017 and the Fund to Advance Public Kindergarten to Grade 12 Education, both as enacted in Initiated Bill 2015, chapter 4. The repeal is retroactive to the effective date of the initiated bill.

Part B of this bill enacts a 3% surcharge on taxable individual income over $200,000 for tax years beginning in or after 2019 and it enacts the Fund to Advance Public Kindergarten to Grade 12 Education, but only if approved by the voters at referendum in November 2018.