Plain English Breakdown
The official source material does not provide specific details on what information must be included in the annual revenue report or when it would start after passing into law.
Income Tax Reporting for Individuals
This law requires the state to send an annual report about revenue to people who pay individual income taxes.
What This Bill Does
- Requires the state treasury to create and send a yearly report on how tax money is used to each person who pays individual income tax.
Who It Names or Affects
- People who pay individual income tax in the state.
Terms To Know
- Individual Income Tax
- A tax that people pay based on how much money they earn from jobs, investments, and other sources.
- Annual Revenue Report
- A yearly report showing where the government's income comes from and how it is spent.
Limits and Unknowns
- The bill does not specify what exact information must be included in the annual revenue report.
- It is unclear when this new requirement would start after being passed into law.