H.J.Res.1072

Oklahoma HJR1072 proposes a legislative referendum to levy an additional income tax for education funding.

Oklahoma HJR1072 proposes a legislative referendum to impose an additional income tax on individuals. The tax would be 1% on taxable income over $1 million but not exceeding $5 million for single filers, and 2% on income over $5 million. For married filing jointly, the tax would be 1% on income over $2 million but not exceeding $10 million, and 2% on income over $10 million. The revenue would be directed to the Future Readers, Future Leaders Investment Revolving Fund.