Introduced by Rep. Edward McBroom (R) on May 29, 2012, to speed up an income tax cut from 4.35 percent to 4.25 percent that under current law will happen on Jan, 1, 2013. Under the bill, it would go into effect on Oct. 1, 2012. See also House Bill 5700, which increases the personal income tax exemption.
Referred to the House Tax Policy Committee on May 29, 2012.
Reported in the House on May 30, 2012, without amendment and with the recommendation that the bill pass.
Amendment offered by Rep. Phil Cavanagh (D) on June 5, 2012, to tie-bar the bill to House Bill 5407, meaning this bill cannot become law unless that one does also. HB 5407 would increase the state Earned Income Tax Credit, a “refundable” tax credit (or “reverse income tax”) for low income workers. The amendment failed by voice vote in the House on June 5, 2012.
Amendment offered by Rep. Tim Greimel (D) on June 5, 2012, to lower the state income tax to 3.9 percent. The amendment failed by voice vote in the House on June 5, 2012.
Referred to the Senate Finance Committee on June 7, 2012.
Reported in the Senate on June 14, 2012, with the recommendation that the bill pass.
Amendment offered by Sen. Bert Johnson (D) on June 14, 2012, to cut the income tax rate to zero. The amendment failed 16 to 21 in the Senate on June 14, 2012. Who Voted "Yes" and Who Voted "No"
Passed 31 to 7 in the Senate on June 14, 2012, to speed up an income tax cut from 4.35 percent to 4.25 percent that under current law will happen on Jan, 1, 2013. Under the bill, it would go into effect on Oct. 1, 2012. See also House Bill 5700, which increases the personal income tax exemption. Who Voted "Yes" and Who Voted "No"