Vermont H 732: An act relating to the right to farm

Bill Text

BILL AS INTRODUCED H.732
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VT LEG #386324 v.1
H.732 1
SHORT FORM 2
Introduced by Representatives Satcowitz of Randolph, Cina of Burlington, 3
Eastes of Guilford, Howard of Rutland City, Kleppner of 4
Burlington, Logan of Burlington, McCann of Montpelier, 5
McGill of Bridport, Morris of Springfield, Pezzo of Colchester, 6
and Pouech of Hinesburg 7
Referred to Committee on 8
Date: 9
Subject: Taxation; personal income tax; marginal income tax rates 10
Statement of purpose of bill as introduced: This bill proposes to create two 11
new marginal income tax brackets to be taxed at an additional one percent of 12
income within the bracket. The brackets would begin at $200,000.00 and 13
$400,000.00 of taxable income for individuals and $400,000.00 and 14
$800,000.00 for married filers. The additional revenue would be deposited in 15
the Education Fund and dedicated to increase the property tax credit for 16
taxpayers with household income of less than $115,000.00 per year. 17
An act relating to new income tax brackets 18
It is hereby enacted by the General Assembly of the State of Vermont: 19
(TEXT OMITTED IN SHORT-FORM BILLS) 20