Available Soon: Request your printed copies of the Idaho Freedom Index mailed to you!
Request Your Copies
Note to Dustin: This is currently only visible to logged in users for testing.
Click Me!
video could not be found

HB 561 - Automatic income-tax rate reduction

HB 561 - Automatic income-tax rate reduction

Phil Haunschild
February 16, 2018

Bill description: HB 561 would reduce all personal income-tax rates by one-tenth percent whenever state revenues exceed the prior year revenues by six percent.

Rating: +1

Does it directly or indirectly create or increase any taxes, fees, or other assessments? Conversely, does it eliminate or reduce any taxes, fees, or other assessments? 

HB 561 would reduce state personal income-tax rates whenever state General Fund tax-collections exceed those of the prior year by six percent or more. The change would automatically reduce the rates for every tax bracket by one-tenth percent.

The Fiscal Note for HB 561 estimates if the income-tax rate for each tax bracket were reduced by one-tenth percent in FY 2019, Idaho taxpayers would save roughly $36.5 million. If the over-collections of tax revenue continued from one year to the next, the amount returned to income-tax filers would grow.  


Idaho Freedom Foundation
802 W. Bannock Street, Suite 405, Boise, Idaho 83702
p 208.258.2280 | e [email protected]
COPYRIGHT © 2024 Idaho freedom Foundation
magnifiercrossmenucross-circle linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram