SB702
Income tax, state; brackets, deductions, and exemptions, inflation indexing.
Status:
In Senate
Latest Action:
Feb. 5, 2026
Senate: Continued to next session in Finance and Appropriations (10-Y 5-N)
Chief Patron:
Kannan Srinivasan (D)
Session:
2026 Regular Session
Summary
As Introduced. Individual income tax; brackets, deductions, and exemptions; inflation indexing.
Adjusts annually the amount of the income tax brackets, standard deduction, personal and other individual exemptions and deductions, and filing threshold to the annual change in the Chained Consumer Price Index for All Urban Consumers (C-CPI-U). The bill directs the Department of Taxation to annually publish on its website the ... (More) individual income tax inflation adjustments. This bill contains technical amendments. (Less)-
Bill History
- 01/14/2026 - Senate: Prefiled and ordered printed; Offered 01-14-2026 26104185D
- 01/14/2026 - Senate: Referred to Committee on Finance and Appropriations
- 02/02/2026 - Senate: Fiscal Impact statement From TAX (2/2/2026 6:40 pm)
- 02/05/2026 - Senate: Continued to next session in Finance and Appropriations (10-Y 5-N)
