Delaware General Assembly

House Revenue & Finance 3/12/24

Committee Hearing takes place within twelve legislative days.

HB 149

3/12/24

Collins

Sen. Hocker, Richardson

Sen. Lawson, Wilson
Reps. Hilovsky, Ramone, Shupe, Michael Smith, Yearick

AN ACT TO AMEND TITLE 30 OF THE DELAWARE CODE RELATING TO PERSONAL INCOME TAXES.

This Act requires personal income tax brackets to be annually adjusted for cost-of-living increases. This will prevent tax rate increases resulting from cost-of-living pay increases that push lower income taxpayers into higher tax brackets. This is referred to as "bracket creep". Cost-of-living pay increases are intended to offset inflation and not create a greater tax burden on lower income taxpayers. Social justice requires that lower income taxpayers should not face both inflation and higher tax rates at the same time. This Act will be effective for tax years beginning after December 31, 2024.

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Takes effect upon being signed into law

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