Budget Requirement for Tax Triggers.

Summary

The bill changes state law so that a reduction in certain tax rates can happen only after the General Assembly has passed a Current Operations Appropriations Act and the General Fund revenue surpasses a specified amount for that fiscal year. If both conditions are met, the tax rate for the listed future years is lowered by either 0.5 percentage points or to 2.49%, whichever is higher. This ties tax relief to fiscal performance and budget approval.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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