Enacts the "fair share act" to allow cities with personal income taxes to impose an additional two percent tax on city residents, estates, and trusts.

The "fair share act" authorizes cities that impose personal income taxes to adopt and amend local laws imposing an additional two percent tax on the annual city taxable income of city residents, estates, and trusts reporting any return in excess of one million dollars. The tax is to be administered, collected, and distributed by the commissioner in the same manner as other taxes. The act takes effect immediately.

Enacts the "fair share act" to allow cities with personal income taxes to impose an additional two percent tax on city residents, estates, and trusts.

The "fair share act" authorizes cities that impose personal income taxes to adopt and amend local laws imposing an additional two percent tax on the annual city taxable income of city residents, estates, and trusts reporting any return in excess of one million dollars. The tax is to be administered, collected, and distributed by the commissioner in the same manner as other taxes. The act takes effect immediately.