IN HB1080 | 2021 | Regular Session
Status
Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on January 4 2021 - 25% progression, died in committee
Action: 2021-01-04 - First reading: referred to Committee on Ways and Means
Pending: House Ways and Means Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on January 4 2021 - 25% progression, died in committee
Action: 2021-01-04 - First reading: referred to Committee on Ways and Means
Pending: House Ways and Means Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Local income taxes. Phases in a new distribution formula for certain local income tax (LIT) revenue using a weighted combination of property tax levies and residential assessed value for taxing units receiving this LIT revenue. Phases in the weights over five years beginning in 2023. Amends provisions that provide for a distribution of LIT revenue to schools in counties that imposed a rate under the prior county adjusted gross income tax (CAGIT) before its repeal to apply to all schools in counties that impose a LIT under current law regardless of whether the county imposed a rate under the prior CAGIT.
Title
Local income taxes.
Sponsors
History
Date | Chamber | Action |
---|---|---|
2021-01-04 | House | First reading: referred to Committee on Ways and Means |
2021-01-04 | House | Authored by Representative Thompson |