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FISCAL NOTE
House Bill 142
Committee: Ways and Means Education Sponsor: Representative Neil Rafferty
Analyst: Cary Dean Date: 03/19/2025
House Bill 142 as reported by the Committee on Ways and Means Education could reduce
income tax receipts, beginning in fiscal year 2027, to the Education Trust Fund by an
undetermined amount dependent upon: (1) the amount of contributions to portable benefits
accounts for independent contractors, which would be fully-deductible from state income tax
pursuant to the provisions of this bill; and (2) the applicable effective income tax rate of the
taxpayer claiming the deduction.