Income tax; suspend reductions until PERS is funded at 80%.

Summary

The Senate bill would stop any further lowering of the individual income‑tax rate on taxable income over $10,000 until an independent actuary confirms that the Public Employees' Retirement System (PERS) has an unfunded actuarial liability of less than 20%. It also repeals a separate statute that allowed additional tax cuts under certain fiscal conditions and directs the legislature to consider whether to lower the rate below 3% before that level is reached. The measure targets all Mississippi residents who file individual income taxes.

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