HB 1129, income tax surplus bill, clears House Finance Committee
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March 23, 2022
Representative Rod Pelton, R-Cheyenne Wells, scored a bipartisan victory in the House Finance Committee on March 17, with approval of House Bill 1129.
The bill sets up a one-time income tax credit of surplus general funds — the dollars the state gets from corporate and individual income taxes and sales taxes — to taxpayers.
“This bill couldn’t come at a better time, with all the people hurt through shutdowns, businesses closed and the State realizing a surplus over and above what we thought we would get,” to the tune of $1.8 billion, Pelton told the committee.
Pelton said the bill is intended...
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