1364-S AMH ORCU MITC 227

SHB 1364 - H AMD 1219

By Representative Ahern

   On page 4, after line 5, insert the following:

   "(7) Annually, the department shall adjust each combined disposable income amount and each valuation amount in this section to reflect inflation. The department shall round the adjusted amounts to the nearest thousand dollars. The adjusted amounts apply for taxes due the following year. For the purposes of this section, "inflation" means the change in the implicit price deflator for personal consumption expenditures for the United States, as published by the bureau of economic analysis of the federal department of commerce."

EFFECT: Requires the income thresholds to be increased annually by inflation.