Engrossed House Bill (H) 3
Authored by: Rep. Timothy Brown
Co-Authors: Rep. P Eric Turner
Sponsors: Sen. Luke Kenley
Indexing family tax exemptions. Requires that the income tax exemption for individuals, dependents, individuals who are blind, and the elderly (including a dependent child and the elderly with an adjusted gross income less than $40,000) must be adjusted according to the Consumer Price Index. Increases the dependent child exemption from $1,500 to $2,000. Requires the department of state revenue to publish certain information concerning adjustments to personal exemptions on the transparency Internet web site.