HB 686 (2019)

Extends the interest and dividends tax to capital gains and increases the exemptions and filing thresholds for the interest and dividends tax. This bill then increases the base per-pupil state funding from $3,561.27 to $4,500.˙The bill eliminates extra aid for third grade students scoring below proficient in reading on statewide standardized tests. Lastly, the bill increases some stabilization grants for schools. The House amended the bill to only increase the base per-pupil state funding to $4,000. The House amendment also provides for a decrease in statewide property taxes.