AN ACT ESTABLISHING A CAP ON THE AGGREGATE AMOUNT OF PERSONAL INCOME TAX REVENUE THE STATE MAY COLLECT.

SB 104 would cap the total amount of personal income tax revenue the state can collect annually. If tax collections exceed this cap, the state must refund the excess amount proportionally to all individual taxpayers. The bill directly affects all residents who pay personal income tax by limiting how much the state can retain from their taxes. It establishes a structural change to tax collection rules rather than altering tax rates or brackets. The refund mechanism ensures any overcollected revenue is returned to taxpayers based on their individual contributions.