HB289:

Income tax, state; indexing brackets and exemptions.

Bill Summary:

Income tax; indexing brackets and exemptions.
Starting with taxable year 2022, indexes income tax brackets, the
personal exemption, and the additional personal exemption for the
blind or the aged. The bill requires the indexing ratio to be based
on any increase in the Chained Consumer Price Index for All Urban
Consumers (C-CPI-U) compared with 2021 as a reference year; however,
the indexing ratio shall not be less than zero and therefore does
not function to reduce any bracket or exemption.