Imposition of tax; tax rate; calculation and certification of individual adjusted gross income tax rate

(b) Each taxable year, a tax at the following rate of adjusted gross income is imposed upon the adjusted gross income of every resident person, and on that part of the adjusted gross income derived from sources within Indiana of every nonresident person:

(1) For taxable years beginning before January 1, 2015, three and four-tenths percent (3.4%).

(2) For taxable years beginning after December 31, 2014, and before January 1, 2017, three and three-tenths percent (3.3%).

(3) For taxable years beginning after December 31, 2016, and before January 1, 2023, three and twenty-three hundredths percent (3.23%).

(4) For taxable years beginning after December 31, 2022, and before January 1, 2024, three and fifteen hundredths percent (3.15%).

(5) For taxable years beginning after December 31, 2023, and before January 1, 2025, three and five-hundredths percent (3.05%).

(6) For taxable years beginning after December 31, 2024, and before January 1, 2026, three percent (3%).

(7) For taxable years beginning after December 31, 2025, and before January 1, 2027, two and ninety-five hundredths percent (2.95%).

(8) For taxable years beginning after December 31, 2026, and before January 1, 2030, two and nine-tenths percent (2.9%).

(9) For taxable years beginning after December 31, 2029, and before January 1, 2032, if, as determined by the budget agency under subsection (e), the:

(A) state general fund revenue collections in each of the state fiscal years ending: