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SB1507Introduced in the Senate

Relating to revenue; and prescribing an effective date.

Passed

What does this bill do?

Plain-English breakdown

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Official description

The Act updates the tie date to the federal Internal Revenue Code and other federal tax laws. Disconnects from certain federal tax laws. Increases the amount of the earned income tax credit. Makes a new tax credit for new jobs. (Flesch Readability Score: 67.6). [Digest: The Act would reduce income taxes and other taxes if the state collects a retail sales tax. (Flesch Readability Score: 70.1).] [Reduces taxes imposed under various tax programs, operative conditioned upon imposition of a statewide retail sales tax dedicated to specified purposes. Directs the Department of Revenue to estimate the revenue lost to tax reductions and to direct an equal amount of revenue to various purposes.] Updates the connection date to the federal Internal Revenue Code and other provisions of federal tax law. Increases the amount of the earned income tax credit allowed as a percentage of the federal earned income tax credit. Disconnects from, and requires addback of amounts for, federal provisions allowing deductions of personal auto loan interest and bonus depreciation and allowing exclusion of gain from small business stock. Applies to tax years beginning on or after January 1, 2026. Creates a personal income or corporate excise tax credit for a taxpayer creating new jobs in the tax year. Applies to tax years beginning on or after January 1, 2026, and before January 1, 2032. Takes effect on the 91st day following adjournment sine die.

Where it stands

Effective date, June 5, 2026.

April 14, 2026

How did lawmakers vote?

House votes

3 recorded votes · each counted separately

Senate votes

3 recorded votes · each counted separately

HouseStage: House Third Reading · February 25, 2026

34

Yes

21

No

5

Absent or Not Voting

60 representatives recorded in this House vote. Colors show vote categories only, not whether a vote was good or bad.

See how each representative voted

RepresentativeDistrictVote
Court Boice1No
Virgle Osborne2No
Dwayne Yunker3No
Alek Skarlatos4No
Pam Marsh5Yes
Kimberly Wallan6No
John Lively7Absent
Lisa Fragala8Yes
Boomer Wright9No
David Gomberg10Yes

Bill history

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

  2. Referred to Finance and Revenue.

  3. Public Hearing held.

  4. Work Session held.

  5. Recommendation: Do pass with amendments. (Printed A-Eng).

  6. Minority Recommendation: Do pass with different amendments. (Printed A-Eng. Minority)

  7. Second reading.

  8. Rules suspended. Motion to substitute Minority Report for Committee Report failed. Ayes, 12; Nays, 18--Broadman, Campos, Frederick, Gelser Blouin, Golden, Gorsek, Jama, Lieber, Manning Jr, Meek, Neron Misslin, Patterson, Pham, Prozanski, Reynolds, Sollman, Taylor, President Wagner.

  9. Rules suspended. Third reading. Carried by Broadman. Passed. Ayes, 17; Nays, 13--Anderson, Drazan, Girod, Hayden, Linthicum, McLane, Meek, Nash, Robinson, Smith DB, Starr, Thatcher, Weber.

  10. Vote explanation(s) filed by Starr.

  11. First reading. Referred to Speaker's desk.

  12. Referred to Revenue.

  13. Public Hearing held.

  14. Work Session held.

  15. Recommendation: Do pass.

  16. Second reading.

  17. Third reading. Carried by Nathanson.

  18. Motion to re-refer to Revenue failed. Ayes, 19; Nays, 33--Andersen, Bowman, Chaichi, Chotzen, Dobson, Evans, Fragala, Gamba, Gomberg, Grayber, Helm, Hudson, Isadore, Javadi, Kropf, Marsh, McDonald, McLain, Munoz, Nathanson, Nelson, Nguyen D, Nosse, Pham H, Rieke Smith, Ruiz, Sanchez, Sosa, Tran, Walters, Watanabe, Wise, Speaker Fahey; Excused, 4--Hartman, Lively, Scharf, Valderrama; Excused for Business of the House, 4--Boshart Davis, Levy E, Mannix, Owens.

  19. Passed. Ayes, 34; Nays, 21--Boice, Breese-Iverson, Bunch, Cate, Diehl, Edwards, Elmer, Harbick, Helfrich, Levy B, Lewis, Mannix, McIntire, Osborne, Owens, Reschke, Skarlatos, Smith G, Wallan, Wright, Yunker; Excused, 4--Hartman, Lively, Scharf, Valderrama; Excused for Business of the House, 1--Boshart Davis.

  20. President signed.

  21. Speaker signed.

  22. Governor signed.

  23. Chapter 142, 2026 Laws.

  24. Effective date, June 5, 2026.

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