Bill Summary – FastDemocracy

67th Legislature                                                                                                   SB 159.1
  1                                                     SENATE BILL NO. 159
  2        INTRODUCED BY G. HERTZ, M. BLASDEL, J. SMALL, G. VANCE, B. BEARD, J. FULLER, W. GALT, C.
  3                                       KNUDSEN, R. KNUDSEN, S. VINTON, T. WELCH
  4                                              BY REQUEST OF THE GOVERNOR
  5
  6     A BILL FOR AN ACT ENTITLED: “AN ACT REDUCING THE TOP INDIVIDUAL INCOME TAX RATE;
  7     AMENDING SECTION 15-30-2103, MCA; AND PROVIDING AN APPLICABILITY DATE.”
  8
  9     BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MONTANA:
 10
 11                Section 1. Section 15-30-2103, MCA, is amended to read:
 12                "15-30-2103.    Rate of tax. (1) There must be levied, collected, and paid for each tax year upon the
 13     taxable income of each taxpayer subject to this tax, after making allowance for exemptions and deductions as
 14     provided in this chapter, a tax on the brackets of taxable income as follows:
 15                (a)   on the first $2,900 of taxable income or any part of that income, 1%;
 16                (b)   on the next $2,200 of taxable income or any part of that income, 2%;
 17                (c)   on the next $2,700 of taxable income or any part of that income, 3%;
 18                (d)   on the next $2,700 of taxable income or any part of that income, 4%;
 19                (e)   on the next $3,000 of taxable income or any part of that income, 5%;
 20                (f)   on the next $3,900 of taxable income or any part of that income, 6%;
 21                (g)   on any taxable income in excess of $17,400 or any part of that income, 6.9% 6.75%.
 22                (2)   By November 1 of each year, the department shall multiply the bracket amount contained in
 23     subsection (1) by the inflation factor for the following tax year and round the cumulative brackets to the nearest
 24     $100. The resulting adjusted brackets are effective for that following tax year and must be used as the basis for
 25     imposition of the tax in subsection (1) of this section."
 26
 27                NEW SECTION. Section 2.        Applicability. [This act] applies to income tax years beginning after
 28     December 31, 2021.
                                                                    -1-                   Authorized Print Version – SB 159
67th Legislature                                     SB 159.1
  1                - END -
                    -2-      Authorized Print Version – SB 159
Statutes affected: 
SB0159_1.pdf: 15-30-2103
SB0159_2.pdf: 15-30-2103
SB0159_X.pdf: 15-30-2103
Amended: 15-30-2103
Introduced: 15-30-2103