Minority report on the initiative petition of christopher robert anderson and others for the passage of an act relative to limiting state tax collection growth and returning surpluses to taxpayers (see house, no. 5006); And the initiative petition of james john stergios and others for the passage of an act relative to reducing the state personal income tax rate from 5% to 4%. (see house, no. 5007)
Minority Report on the Initiative Petition of Christopher Robert Anderson and Others for the Passage of an Act Relative to Limiting State Tax Collection Growth and Returning Surpluses to Taxpayers (See House, No. 5006); and the Initiative Petition of James John Stergios and Others for the Passage of an Act Relative to Reducing the State Personal Income Tax Rate From 5% to 4%. (See House, No. 5007)
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Overview
This bill consists of two related initiatives. One aims to limit the growth of state tax collections and return any resulting surpluses to taxpayers. The other seeks to reduce the state’s personal income tax rate from 5% to 4%. Both initiatives are based on earlier initiative petitions.
Key provisions
- Limits the growth of state tax collections.
- Returns state tax surpluses to taxpayers.
- Reduces the state personal income tax rate from 5% to 4%.
- Based on prior initiative petitions (H.5006 and H.5007).
- Addresses constitutional amendment proposals related to initiative petitions (S.12, S.23, S.13, H.67).
Who is affected
- Taxpayers
- State residents
- The Commonwealth’s state government
Notable changes
- Reduces the personal income tax rate.
- Directs state surpluses back to taxpayers.
- Addresses the scope of initiative petitions through constitutional amendments.
Bill text
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Sponsors
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1 on record
Cosponsor
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