Bill Text: IA SF2220 | 2013-2014 | 85th General Assembly | Introduced
Bill Title: A bill for an act relating to state financing involving the state general fund expenditure limitation by revising calculation requirements for the limitation, increasing reserve fund balances, creating a safety net fund, creating an Iowa personal income tax rate reduction fund, making transfers, and providing for related state personal income tax rate reductions, and including effective and applicability dates.
Spectrum: Partisan Bill (Republican 2-0)
Status: (Introduced - Dead) 2014-02-18 - Introduced, referred to Appropriations. S.J. 283. [SF2220 Detail]
Download: Iowa-2013-SF2220-Introduced.html
Senate
File
2220
-
Introduced
SENATE
FILE
2220
BY
CHAPMAN
and
ANDERSON
A
BILL
FOR
An
Act
relating
to
state
financing
involving
the
state
1
general
fund
expenditure
limitation
by
revising
calculation
2
requirements
for
the
limitation,
increasing
reserve
fund
3
balances,
creating
a
safety
net
fund,
creating
an
Iowa
4
personal
income
tax
rate
reduction
fund,
making
transfers,
5
and
providing
for
related
state
personal
income
tax
rate
6
reductions,
and
including
effective
and
applicability
dates.
7
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
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Section
1.
Section
8.54,
subsection
1,
Code
2014,
is
amended
1
by
adding
the
following
new
paragraphs:
2
NEW
PARAGRAPH
.
0b.
“Iowa
wage
and
salary
component”
means
3
the
wage
and
salary
component
of
the
quarterly
state
personal
4
income
table
for
Iowa
issued
by
the
bureau
of
economic
analysis
5
of
the
United
States
department
of
commerce.
For
the
purposes
6
of
this
paragraph
and
paragraph
“c”
,
“quarter”
means
the
7
calendar
year
quarter
identified
in
the
table
issued
by
the
8
bureau.
9
NEW
PARAGRAPH
.
c.
“Wage
and
salary
growth
factor”
means
10
one-half
of
the
percentage
increase,
if
any,
in
the
average
11
of
the
second
quarter
Iowa
wage
and
salary
component
issued
12
immediately
prior
to
the
meeting
of
the
revenue
estimating
13
conference
held
by
December
15
in
accordance
with
section
14
8.22A,
subsection
3,
and
the
Iowa
wage
and
salary
components
15
for
the
three
quarters
immediately
preceding
such
second
16
quarter
component,
as
compared
to
the
average
of
the
four
17
quarters
of
the
Iowa
wage
and
salary
component
immediately
18
preceding
the
oldest
quarter
used
to
calculate
the
first
19
average.
20
Sec.
2.
Section
8.54,
subsection
2,
Code
2014,
is
amended
21
to
read
as
follows:
22
2.
a.
There
is
created
a
state
general
fund
expenditure
23
limitation
for
each
fiscal
year
calculated
as
provided
in
24
this
section
.
An
expenditure
limitation
shall
be
used
for
25
the
portion
of
the
budget
process
commencing
on
the
date
the
26
revenue
estimating
conference
agrees
to
a
revenue
estimate
for
27
the
following
fiscal
year
in
accordance
with
section
8.22A,
28
subsection
3
,
and
ending
with
the
governor’s
final
approval
29
or
disapproval
of
the
appropriations
bills
applicable
to
that
30
fiscal
year
that
were
passed
prior
to
July
1
of
that
fiscal
31
year
in
a
regular
or
extraordinary
legislative
session.
32
b.
A
wage
and
salary
growth
factor
for
the
following
33
fiscal
year
shall
be
calculated
jointly
by
the
department
of
34
management
and
the
legislative
services
agency
for
use
in
the
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budget
process
for
the
following
fiscal
year
in
accordance
with
1
this
section.
The
wage
and
salary
growth
factor
calculation
2
for
the
following
fiscal
year
shall
be
issued
concurrently
3
with
the
meeting
of
the
revenue
estimating
conference
held
by
4
December
15
in
which
the
estimates
used
to
develop
the
adjusted
5
revenue
estimate
for
the
following
fiscal
year
are
agreed
to
6
by
the
conference.
7
Sec.
3.
Section
8.54,
subsection
3,
Code
2014,
is
amended
8
to
read
as
follows:
9
3.
Except
as
otherwise
provided
in
this
section
,
the
state
10
general
fund
expenditure
limitation
for
a
fiscal
year
shall
be
11
the
lesser
of
the
following
amounts:
12
a.
ninety-nine
Ninety-nine
percent
of
the
adjusted
revenue
13
estimate
for
the
fiscal
year
.
14
b.
The
percentage
derived
from
adding
to
one
hundred
percent
15
the
wage
and
salary
growth
factor
calculated
for
the
fiscal
16
year
times
the
final
state
general
fund
expenditure
limitation
17
for
the
prior
fiscal
year.
18
Sec.
4.
Section
8.54,
subsection
5,
Code
2014,
is
amended
by
19
striking
the
subsection.
20
Sec.
5.
Section
8.55,
subsection
2,
Code
2014,
is
amended
21
to
read
as
follows:
22
2.
The
maximum
balance
of
the
fund
is
the
amount
equal
to
23
two
and
one-half
percent
of
the
adjusted
revenue
estimate
for
24
the
fiscal
year.
If
the
amount
of
moneys
in
the
Iowa
economic
25
emergency
fund
is
equal
to
the
maximum
balance,
moneys
in
26
excess
of
this
amount
shall
be
distributed
as
follows
in
the
27
following
order
:
28
a.
The
initial
excess,
not
to
exceed
the
amount
necessary
29
for
the
safety
net
fund
to
reach
its
maximum
balance
of
two
30
percent
of
the
adjusted
revenue
estimate
for
the
fiscal
year,
31
shall
be
transferred
to
the
safety
net
fund.
32
b.
The
remainder
of
the
excess,
not
to
exceed
one
percent
33
of
the
adjusted
revenue
estimate,
shall
be
transferred
to
the
34
secondary
road
fund.
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c.
The
remainder
of
the
excess,
not
to
exceed
the
first
1
sixty
million
dollars
of
the
difference
between
the
actual
net
2
revenue
for
the
general
fund
of
the
state
for
the
fiscal
year
3
and
the
adjusted
revenue
estimate
for
the
fiscal
year
,
shall
be
4
transferred
to
the
taxpayers
trust
fund.
5
b.
d.
The
remainder
of
the
excess,
if
any,
shall
be
6
transferred
to
the
general
fund
of
the
state
Iowa
personal
7
income
tax
rate
reduction
fund
created
in
section
8.57G
.
8
Sec.
6.
NEW
SECTION
.
8.57G
Iowa
personal
income
tax
rate
9
reduction
fund.
10
1.
An
Iowa
personal
income
tax
rate
reduction
fund
is
11
created.
The
fund
shall
be
separate
from
the
general
fund
of
12
the
state
and
the
balance
in
the
fund
shall
not
be
considered
13
part
of
the
balance
of
the
general
fund
of
the
state.
The
14
moneys
credited
to
the
fund
are
not
subject
to
section
8.33
and
15
shall
not
be
transferred,
used,
obligated,
appropriated,
or
16
otherwise
encumbered
except
as
provided
in
this
section.
17
2.
a.
Moneys
in
the
Iowa
personal
income
tax
rate
reduction
18
fund
shall
only
be
used
pursuant
to
appropriations
or
transfers
19
made
by
the
general
assembly
for
tax
relief.
20
b.
No
later
than
June
30
in
each
fiscal
year
the
entire
21
balance
of
the
Iowa
personal
income
tax
rate
reduction
fund,
if
22
any,
is
transferred
to
the
general
fund
of
the
state.
23
c.
The
moneys
transferred
to
the
general
fund
of
the
state
24
in
accordance
with
paragraph
“b”
shall
not
be
considered
new
25
revenue
for
purposes
of
the
state
general
fund
expenditure
26
limitation
under
section
8.54
but
instead
shall
be
considered
27
as
replacing
a
like
amount
included
in
the
expenditure
28
limitation
for
the
fiscal
year
in
which
the
transfer
is
made.
29
3.
a.
Moneys
in
the
Iowa
personal
income
tax
rate
reduction
30
fund
may
be
used
for
cash
flow
purposes
during
a
fiscal
year
31
provided
that
any
moneys
so
allocated
are
returned
to
the
fund
32
by
the
end
of
that
fiscal
year.
33
b.
Except
as
provided
in
section
8.58,
the
Iowa
personal
34
income
tax
rate
reduction
fund
shall
be
considered
a
special
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account
for
the
purposes
of
section
8.53
in
determining
the
1
cash
position
of
the
general
fund
of
the
state
for
the
payment
2
of
state
obligations.
3
4.
Notwithstanding
section
12C.7,
subsection
2,
interest
or
4
earnings
on
moneys
deposited
in
the
Iowa
personal
income
tax
5
rate
reduction
fund
shall
be
credited
to
the
fund.
6
Sec.
7.
NEW
SECTION
.
8.57H
Safety
net
fund.
7
1.
A
safety
net
fund
is
created.
The
fund
shall
be
separate
8
from
the
general
fund
of
the
state
and
the
balance
in
the
fund
9
shall
not
be
considered
part
of
the
balance
of
the
general
fund
10
of
the
state.
The
moneys
credited
to
the
fund
are
not
subject
11
to
section
8.33
and
shall
not
be
transferred,
used,
obligated,
12
appropriated,
or
otherwise
encumbered
except
as
provided
in
13
this
section.
14
2.
Moneys
in
the
safety
net
fund
shall
only
be
used
pursuant
15
to
appropriations
or
transfers
made
by
the
general
assembly
16
to
augment
appropriations
made
for
important
education,
17
employment,
health,
human
services,
and
other
programs
to
aid
18
individuals
and
families
with
low
income.
19
3.
a.
Moneys
in
the
safety
net
fund
may
be
used
for
cash
20
flow
purposes
during
a
fiscal
year
provided
that
any
moneys
so
21
allocated
are
returned
to
the
fund
by
the
end
of
that
fiscal
22
year.
23
b.
Except
as
provided
in
section
8.58,
the
safety
net
fund
24
shall
be
considered
a
special
account
for
the
purposes
of
25
section
8.53
in
determining
the
cash
position
of
the
general
26
fund
of
the
state
for
the
payment
of
state
obligations.
27
4.
Notwithstanding
section
12C.7,
subsection
2,
interest
28
or
earnings
on
moneys
deposited
in
the
safety
net
fund
shall
29
be
credited
to
the
fund.
30
Sec.
8.
Section
8.58,
Code
2014,
is
amended
to
read
as
31
follows:
32
8.58
Exemption
from
automatic
application.
33
1.
To
the
extent
that
moneys
appropriated
under
section
34
8.57
do
not
result
in
moneys
being
credited
to
the
general
fund
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under
section
8.55,
subsection
2
,
moneys
Moneys
appropriated
1
under
section
8.57
and
moneys
contained
in
the
cash
reserve
2
fund,
rebuild
Iowa
infrastructure
fund,
environment
first
3
fund,
Iowa
economic
emergency
fund,
taxpayers
trust
fund,
4
and
state
bond
repayment
fund
,
Iowa
personal
income
tax
rate
5
reduction
fund,
and
safety
net
fund
shall
not
be
considered
6
in
the
application
of
any
formula,
index,
or
other
statutory
7
triggering
mechanism
which
would
affect
appropriations,
8
payments,
or
taxation
rates,
contrary
provisions
of
the
Code
9
notwithstanding.
To
the
extent
that
moneys
projected
to
be
10
transferred
from
the
Iowa
personal
income
tax
rate
reduction
11
fund
to
the
general
fund
of
the
state
pursuant
to
section
8.57G
12
replace
revenues
reduced
pursuant
to
section
422.5,
subsection
13
1,
paragraph
“k”
,
such
moneys
reduction
shall
not
be
considered
14
by
such
arbitrator
or
in
such
negotiations
in
the
application
15
of
such
mechanisms
that
affect
appropriations,
payments,
or
16
taxation
rates.
17
2.
To
the
extent
that
moneys
appropriated
under
section
18
8.57
do
not
result
in
moneys
being
credited
to
the
general
fund
19
under
section
8.55,
subsection
2
,
moneys
Moneys
appropriated
20
under
section
8.57
and
moneys
contained
in
the
cash
reserve
21
fund,
rebuild
Iowa
infrastructure
fund,
environment
first
22
fund,
Iowa
economic
emergency
fund,
taxpayers
trust
fund,
23
and
state
bond
repayment
fund
,
Iowa
personal
income
tax
rate
24
reduction
fund,
and
safety
net
fund
shall
not
be
considered
25
by
an
arbitrator
or
in
negotiations
under
chapter
20
.
To
the
26
extent
that
moneys
projected
to
be
transferred
from
the
Iowa
27
personal
income
tax
rate
reduction
fund
to
the
general
fund
of
28
the
state
pursuant
to
section
8.57G
replace
revenues
reduced
29
pursuant
to
section
422.5,
subsection
1,
paragraph
“k”
,
such
30
moneys
reduction
shall
not
be
considered
by
such
arbitrator
or
31
in
such
negotiations
in
the
application
of
such
mechanisms
that
32
affect
appropriations,
payments,
or
taxation
rates.
33
Sec.
9.
Section
422.5,
subsection
1,
Code
2014,
is
amended
34
by
adding
the
following
new
paragraph:
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NEW
PARAGRAPH
.
k.
For
the
tax
year
beginning
January
1
1
immediately
preceding
July
1
of
any
fiscal
year
in
which
a
2
transfer
is
made
to
the
Iowa
personal
income
tax
rate
reduction
3
fund
pursuant
to
section
8.57G,
subsection
2,
paragraph
“b”
,
4
each
rate
in
paragraphs
“a”
through
“i”
shall
be
reduced,
and
5
rounded
to
the
nearest
one-hundredth
of
one
percent,
by
the
6
percentage
that
the
amount
transferred
during
the
fiscal
year
7
to
the
Iowa
personal
income
tax
rate
reduction
fund
bears
8
to
the
actual
net
revenue
for
the
general
fund
of
the
state
9
for
the
fiscal
year
immediately
preceding
the
fiscal
year
in
10
which
such
transfer
was
made
to
the
Iowa
personal
income
tax
11
rate
reduction
fund.
A
tax
rate
reduction
provided
in
this
12
paragraph
only
applies
to
the
tax
year
which
is
the
subject
13
of
the
rate
reduction
and
shall
not
effect
tax
rates
in
any
14
successive
tax
year.
The
department
shall
draft
the
income
tax
15
form
for
any
tax
year
in
which
rates
are
reduced
under
this
16
paragraph
to
provide
information
to
taxpayers
necessary
to
17
calculate
the
tax
due.
18
Sec.
10.
Section
422.5,
subsection
2,
paragraph
a,
Code
19
2014,
is
amended
to
read
as
follows:
20
a.
There
is
imposed
upon
every
resident
and
nonresident
21
of
this
state,
including
estates
and
trusts,
the
greater
of
22
the
tax
determined
in
subsection
1
,
paragraphs
“a”
through
“j”
23
“k”
,
or
the
state
alternative
minimum
tax
equal
to
seventy-five
24
percent
of
the
maximum
state
individual
income
tax
rate
for
the
25
tax
year,
rounded
to
the
nearest
one-tenth
of
one
percent,
of
26
the
state
alternative
minimum
taxable
income
of
the
taxpayer
as
27
computed
under
this
subsection
.
28
Sec.
11.
Section
422.11B,
Code
2014,
is
amended
to
read
as
29
follows:
30
422.11B
Minimum
tax
credit.
31
1.
a.
There
is
allowed
as
a
credit
against
the
tax
32
determined
in
section
422.5,
subsection
1
,
paragraphs
“a”
33
through
“j”
“k”
for
a
tax
year
an
amount
equal
to
the
minimum
34
tax
credit
for
that
tax
year.
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b.
The
minimum
tax
credit
for
a
tax
year
is
the
excess,
1
if
any,
of
the
net
minimum
tax
imposed
for
all
prior
tax
2
years
beginning
on
or
after
January
1,
1987,
over
the
amount
3
allowable
as
a
credit
under
this
section
for
those
prior
tax
4
years.
5
2.
a.
The
allowable
credit
under
subsection
1
for
a
tax
6
year
shall
not
exceed
the
excess,
if
any,
of
the
tax
determined
7
in
section
422.5,
subsection
1
,
paragraphs
“a”
through
“j”
“k”
8
over
the
state
alternative
minimum
tax
as
determined
in
section
9
422.5,
subsection
2
.
10
b.
The
net
minimum
tax
for
a
tax
year
is
the
excess,
if
any,
11
of
the
tax
determined
in
section
422.5,
subsection
2
,
for
the
12
tax
year
over
the
tax
determined
in
section
422.5,
subsection
13
1
,
paragraphs
“a”
through
“j”
“k”
for
the
tax
year.
14
Sec.
12.
Section
422.16,
subsection
1,
paragraph
a,
Code
15
2014,
is
amended
to
read
as
follows:
16
a.
Every
withholding
agent
and
every
employer
as
defined
17
in
this
chapter
and
further
defined
in
the
Internal
Revenue
18
Code,
with
respect
to
income
tax
collected
at
source,
making
19
payment
of
wages
to
a
nonresident
employee
working
in
Iowa,
20
or
to
a
resident
employee,
shall
deduct
and
withhold
from
the
21
wages
an
amount
which
will
approximate
the
employee’s
annual
22
tax
liability
on
a
calendar
year
basis,
calculated
on
the
23
basis
of
tables
to
be
prepared
by
the
department
and
schedules
24
or
percentage
rates,
based
on
the
wages,
to
be
prescribed
by
25
the
department
,
and
calculated
without
regard
to
the
rate
26
reductions
provided
in
section
422.5,
subsection
1,
paragraph
27
“k”
.
Every
employee
or
other
person
shall
declare
to
the
28
employer
or
withholding
agent
the
number
of
the
employee’s
29
or
other
person’s
personal
allowances
to
be
used
in
applying
30
the
tables
and
schedules
or
percentage
rates.
However,
no
31
greater
number
of
allowances
may
be
declared
by
the
employee
32
or
other
person
than
the
number
to
which
the
employee
or
other
33
person
is
entitled
except
as
allowed
under
sections
3402(m)(1)
34
and
3402(m)(3)
of
the
Internal
Revenue
Code
and
as
allowed
35
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for
the
child
and
dependent
care
credit
provided
in
section
1
422.12C
.
The
claiming
of
allowances
in
excess
of
entitlement
2
is
a
serious
misdemeanor.
3
Sec.
13.
EFFECTIVE
DATE.
This
Act
takes
effect
July
1,
4
2015.
5
Sec.
14.
APPLICABILITY.
The
following
provisions
of
this
6
Act
are
first
applicable
to
calculate
the
state
general
fund
7
expenditure
limitation
for
the
fiscal
year
beginning
July
1,
8
2015:
9
1.
The
sections
amending
section
8.54.
10
2.
The
sections
amending
section
8.55.
11
EXPLANATION
12
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
13
the
explanation’s
substance
by
the
members
of
the
general
assembly.
14
This
bill
relates
to
the
state
general
fund
expenditure
15
limitation
by
revising
calculation
requirements
for
the
16
limitation,
creating
an
Iowa
personal
income
tax
rate
reduction
17
fund,
making
transfers,
and
providing
for
related
state
18
personal
income
tax
rate
reductions.
19
Code
section
8.54,
relating
to
the
state
general
fund
20
expenditure
limitation,
is
amended
to
provide
an
additional
21
method
for
calculating
the
limitation.
Under
current
law,
22
the
limitation
is
99
percent
of
the
adjusted
revenue
estimate
23
for
the
following
fiscal
year
based
on
an
estimate
approved
24
by
the
revenue
estimating
conference
in
a
meeting
held
by
25
December
15.
The
new
calculation
method
in
the
bill
is
based
26
on
the
growth
in
the
average
wage
and
salary
component
of
the
27
quarterly
state
personal
income
table
for
Iowa
issued
by
the
28
bureau
of
economic
analysis
of
the
United
States
department
of
29
commerce.
Under
the
new
method,
the
department
of
management
30
and
the
legislative
services
agency
are
directed
to
apply
the
31
component
issued
for
the
quarters
of
a
two-year
period
to
32
jointly
calculate
a
wage
and
salary
growth
factor
percentage.
33
One-half
of
this
percentage
amount,
combined
with
100
percent,
34
is
applied
to
the
amount
of
the
state
general
fund
expenditure
35
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limitation
for
the
prior
fiscal
year
(fiscal
year
in
progress).
1
The
lesser
amount
identified
by
the
two
methods
is
required
to
2
be
used
as
the
state
general
fund
expenditure
limitation
in
the
3
budget
process
for
the
following
fiscal
year.
4
Under
current
law,
if
a
surplus
is
anticipated
for
the
5
general
fund
of
the
state
at
the
close
of
a
fiscal
year,
any
6
excess
remaining,
after
the
surplus
is
applied
to
bring
state
7
reserve
funds
to
their
maximum
balances,
is
transferred
back
8
to
the
state
general
fund
for
the
following
fiscal
year.
The
9
original
state
general
fund
expenditure
limitation
for
that
10
following
fiscal
year
is
required
to
be
readjusted
to
reflect
11
the
amount
of
excess
anticipated
to
be
transferred.
The
bill
12
repeals
the
current
law
requirements
for
the
excess
in
Code
13
sections
8.54(5)
and
8.55(2)
and
instead
requires
the
excess
14
to
be
transferred
in
the
following
order:
first
to
the
safety
15
net
fund
created
by
the
bill,
up
to
the
maximum
balance
for
16
the
safety
net
fund
which
is
established
as
2
percent
of
the
17
adjusted
revenue
estimate
for
the
fiscal
year;
next,
to
the
18
secondary
road
fund
in
an
amount
of
up
to
1
percent
of
the
19
adjusted
revenue
estimate
for
the
fiscal
year;
next,
to
the
20
taxpayer
trust
fund,
up
to
the
maximum
amount
specified
in
21
current
law;
and
the
entire
remainder
to
the
personal
income
22
tax
rate
reduction
fund
created
by
the
bill.
23
New
Code
section
8.57G
creates
an
Iowa
personal
income
tax
24
reduction
fund
separate
from
the
general
fund.
Moneys
in
the
25
fund
can
only
be
used
pursuant
to
appropriations
or
transfers
26
made
by
the
general
assembly
for
tax
relief
and
for
temporary
27
cash
flow
purposes.
28
New
Code
section
8.57H
creates
a
safety
net
fund
separate
29
from
the
general
fund.
Moneys
in
the
fund
can
only
be
used
30
pursuant
to
appropriations
or
transfers
made
by
the
general
31
assembly
to
augment
appropriations
made
for
important
32
education,
employment,
health,
human
services,
and
other
33
programs
to
aid
individuals
and
families
with
low
income.
34
Moneys
in
the
new
funds
are
treated
similarly
to
other
35
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reserve
funds
under
Code
section
8.58
and
exempted
from
1
automatic
application
in
triggering
mechanisms
which
affect
2
appropriations,
payments,
or
taxation
rates
and
cannot
be
3
considered
by
an
arbitrator
or
in
collective
bargaining
4
negotiations
under
Code
chapter
20.
5
Moneys
transferred
to
the
Iowa
personal
income
tax
rate
6
reduction
fund
are
required
to
be
transferred
to
the
general
7
fund
of
the
state
by
the
end
of
the
same
fiscal
year
and
treated
8
as
a
replacement
of
revenue
resulting
from
the
individual
9
income
tax
rate
reduction
provided
for
in
the
bill.
10
For
tax
years
beginning
January
1
immediately
preceding
July
11
1
of
a
fiscal
year
in
which
a
transfer
is
made
to
the
Iowa
12
personal
income
tax
rate
reduction
fund,
the
rates
for
each
of
13
the
nine
tax
brackets
of
the
individual
income
tax
are
required
14
to
be
reduced
by
the
percentage
that
the
amount
transferred
15
to
the
fund
bears
to
the
state’s
actual
net
revenue
for
the
16
preceding
fiscal
year.
Tax
rate
reductions
only
apply
for
one
17
tax
year
and
do
not
affect
tax
rates
in
any
successive
tax
18
year.
Withholding
agents
and
employers
are
prohibited
from
19
factoring
in
such
an
individual
income
tax
rate
reduction
in
20
their
calculation
of
appropriate
employee
withholding
amounts
21
during
a
tax
year.
Under
the
bill,
the
tax
year
beginning
22
January
1,
2016,
is
the
first
tax
year
to
which
the
individual
23
income
tax
rate
reduction
may
apply.
24
The
bill
takes
effect
July
1,
2015.
However,
the
provisions
25
affecting
calculation
of
the
state
general
fund
expenditure
26
limitation
are
first
applicable
for
the
budget
process
for
the
27
fiscal
year
beginning
July
1,
2015
(FY
2015-2016).
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