AN ACT CONCERNING PERSONAL INCOME TAX REFUNDS.

Plain English Breakdown

Checked against official source text during the last sync.

Act Concerning Personal Income Tax Refunds

This act requires money to be moved from the Budget Reserve Fund to the General Fund for providing personal income tax refunds to taxpayers who filed federal income tax returns starting in 2025.

What This Bill Does

• Moves $330,811,954 from the Budget Reserve Fund to the General Fund.
• Uses this money to give refunds to taxpayers who filed a federal income tax return for the year starting on or after January 1, 2025.
• The Department of Revenue Services calculates how much each taxpayer gets back.

Who It Names or Affects

• Taxpayers who filed a federal income tax return for the year starting on or after January 1, 2025.

Terms To Know

Budget Reserve Fund

A special fund where extra money is kept to be used when needed by the government.

General Fund

The main account that holds most of a state's money for spending on different programs and services.

Limits and Unknowns

• It does not specify how much each taxpayer will receive as a refund.
• The exact timing of when refunds will be issued is not detailed in the bill.

Official Summary Text

To require moneys to be transferred from the Budget Reserve Fund to the General Fund and used to provide personal income tax refunds to taxpayers.

Current Bill Text

LCO No. 918 1 of 1

General Assembly Proposed Bill No. 181
February Session, 2026 LCO No. 918

Referred to Committee on FINANCE, REVENUE AND
BONDING

Introduced by:
SEN. HARDING, 30th Dist.
SEN. MARTIN, 31st Dist.
SEN. SAMPSON, 16th Dist.
SEN. CICARELLA, 34th Dist.
SEN. SOMERS, 18th Dist.
SEN. HWANG, 28th Dist.
SEN. BERTHEL, 32nd Dist.
SEN. FAZIO, 36th Dist.
SEN. GORDON, 35th Dist.
SEN. KISSEL, 7th Dist.
SEN. PERILLO J., 21st Dist.

AN ACT CONCERNING PERSONAL INCOME TAX REFUNDS.
Be it enacted by the Senate and House of Representatives in General
Assembly convened:

That $330,811,954 be transferred from the Budget Reserve Fund to the 1
General Fund and said amount be used to provide refunds, as calculated 2
by the Department of Revenue Services, of personal income tax actually 3
paid by taxpayers who filed a federal income tax return for the taxable 4
year commencing on or after January 1, 2025. 5
Statement of Purpose:
To require moneys to be transferred from the Budget Reserve Fund to
the General Fund and used to provide personal income tax refunds to
taxpayers.