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Straight-ahead summaries built from the official bill text. We keep the source links front and center and leave the decision up to you.

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SB407 • 2025

Reduces the rate of tax on capital gains of personal income and corporate income and excise taxpayers.

Reduces the rate of tax on capital gains of personal income and corporate income and excise taxpayers.

Taxes
Passed Legislature

This bill passed both chambers and reached final enrollment, even if later executive action is not shown here.

Sponsor
Senator Girod
Last action
2025-06-27
Official status
In Senate Committee
Effective date
Not listed

Plain English Breakdown

The plain English breakdown is still being put together. The official documents below are already here.

Bill History

  1. 2025-06-27 Senate

    In committee upon adjournment.

  2. 2025-01-17 Senate

    Referred to Finance and Revenue.

  3. 2025-01-13 Senate

    Introduction and first reading. Referred to President's desk.

Official Summary Text

Digest: The Act reduces tax rates on capital gains. (Flesch Readability Score: 82.3).
Reduces the rate of tax on capital gains of personal income and corporate income and excise taxpayers.
Applies to tax years beginning on or after January 1, 2025.
Takes effect on the 91st day following adjournment sine die. .
Relating to: Relating to decreases in capital gains tax rates; prescribing an effective date.
Current location: In Senate Committee