In CommitteeFiled Jan 8, 2026
Sponsor: Teddy Waszazak (D)
Latest Action
Read first time and referred to the Committee on Ways and Means
Jan 8, 2026
Summary
The bill adds a three‑percent surcharge to the federal adjusted gross income of individuals whose income reaches $1 million. The surcharge is collected in the same way as the regular personal income tax and the income threshold will be updated each year for inflation. It is intended to generate extra revenue from the state’s highest earners.
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