2014 Bill(s)

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2014 Bill(s)

* SS SB 509
Sponsor: Kraus, Will
Status: VETO OVERRIDDEN
Description: Phase in an income tax rate cut each year that state General Revenue tax collections grew by at least $100 million in any one of the prior three years -- eventually lowering the highest rate from 6 percent to 5 percent. The SS phases in a cut to 5.5 percent. Exempt business income from the personal income tax. Legislative staff estimate the proposal ultimately could cost the state more than $600 million in lost revenue per year. The governor vetoed a similar bill, HB 253, in 2013.

See:	Senate roll call - SS SB 509 (04/01/2014): 3rd reading of a package of income tax cuts that legislative staff estimate would cost more than $600 million per year when fully implemented. House roll call - SS SB 509 (04/16/2014): 3rd reading and final passage of an income tax cut that legislative staff estimate ultimately would cut taxes by more than $600 million per year. Senate roll call - SS SB 509 (05/05/2014): Adoption of a motion to override the governor's veto of the tax-cut bill. Adoption required 23 votes. House roll call - SS SB 509 (05/06/2014): Adoption of the motion to override the governor's veto of the tax-cut bill. Adoption require 109 votes. Get the veto letter The Fiscal Note(s) Official legislative description and status

See:

Senate roll call - SS SB 509 (04/01/2014): 3rd reading of a package of income tax cuts that legislative staff estimate would cost more than $600 million per year when fully implemented.

House roll call - SS SB 509 (04/16/2014): 3rd reading and final passage of an income tax cut that legislative staff estimate ultimately would cut taxes by more than $600 million per year.

Senate roll call - SS SB 509 (05/05/2014): Adoption of a motion to override the governor's veto of the tax-cut bill. Adoption required 23 votes.

House roll call - SS SB 509 (05/06/2014): Adoption of the motion to override the governor's veto of the tax-cut bill. Adoption require 109 votes.

Get the veto letter

The Fiscal Note(s)

Official legislative description and status

Note: The descriptions of bills, amendments and roll-call votes are written by MDN journalists. MDN's database may not include committee assignments of bills made on the last day of the session since it is too late for the committee to act on the bill and, thus, the delayed assignment has no practical effect.