S.Amdt. 2783

As your legislative analyst, let's look straight at what this amendment is trying to do so we can hold our elected officials accountable.

Submitted by Ms. Smith, along with Ms. Warren, Mr. Murphy, and Mr. Schiff, amendment SA 2783 takes aim at the corporate tax rate currently found in the bill.

• Strike and Insert: The amendment strikes section 71303 entirely and replaces it with a new adjustment to the corporate tax rate.
• Rate Change: It changes the current corporate tax rate of 21 percent and replaces it with 21.3 percent.
• Timing: This new 21.3 percent tax rate will apply to taxable years beginning after December 31, 2025.