HB 1427 IN

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Eliminates the state adjusted gross income tax by reducing the rate to 0%. Provides that the reduction in revenue resulting from the elimination of the state income tax must be offset by adjustments to the state gross retail tax. Provides that in calculating the local income tax (LIT), which is imposed based on a local taxpayer's state adjusted gross income, the calculation of a taxpayer's state adjusted gross income for LIT purposes shall be calculated under the adjusted gross income tax provisions as if those provisions, and the most recent adjusted gross income tax rate before its elimination, were still in effect.

• Bruce Borders Republican · author

1. Jan 16, 2024 Authored by Representative Borders · lower
2. Jan 16, 2024 First reading: referred to Committee on Ways and Means · lower

The published texts of this bill as it moves through the legislature. Each links to the official document on the state legislature site. Data from OpenStates.

• Introduced House Bill (H) · PDF