Taxation provisions; increases standard deduction.
Sponsored By: Vivian E. Watts (Democratic)
In Committee
Summary
Taxation provisions. Increases the standard deduction to $10,000 for single individuals, $15,000 for individuals eligible to claim head of household for federal tax purposes, and $20,000 for married individuals beginning in taxable year 2027 and indexes such deduction amount for inflation beginning in taxable year 2028. The bill also removes the aggregate amount of housing opportunity tax credits that may be claimed for qualified projects across all calendar years and exempts food purchased for human consumption and essential personal hygiene products from the local sales tax. The bill establishes two new tax brackets beginning on and after January 1, 2027, that tax income in excess of $600,000 but not in excess of $1,000,000 at a rate of eight percent and income in excess of $1,000,000 at a rate of 10 percent. Finally, the bill provides that 50 percent of revenues generated by the new tax brackets will be dedicated to localities for maintenance, operation, capital outlays, debt and interest payments, or other expenses incurred in the operation of public schools.
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Bill Overview
No Economic Impacts Identified for this Bill
Sponsors & Cosponsors
Sponsor
Vivian E. Watts
Democratic • House
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
No roll call votes available for this bill.
Actions Timeline
Continued from last session
7/21/2026HouseIncorporates HB188 (Convirs-Fowler)
2/11/2026HouseContinued to 2027 in Finance (Voice Vote)
2/11/2026HouseSubcommittee recommends continuing to 2028 (Voice Vote)
2/9/2026HouseFiscal Impact statement From TAX (2/8/2026 9:56 pm)
2/8/2026HouseHouse subcommittee offered
2/8/2026HouseFiscal Impact statement From TAX (2/7/2026 8:31 am)
2/7/2026HouseAssigned HFIN sub: Subcommittee #3
2/5/2026HouseReferred to Committee on Finance
1/13/2026HousePrefiled and ordered printed; Offered 01-14-2026 26105358D
1/13/2026House
Bill Text
Substitute
2/11/2026
Substitute
2/8/2026
Introduced
1/13/2026
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