Income tax; suspend reductions until PERS is funded at 80%.

SB 3031 pauses planned reductions to Mississippi's individual income tax rates for earners above $10,000 annually. It requires an independent actuary to certify that the Public Employees' Retirement System (PERS) has an unfunded liability below 20% (meaning 80% funded) before tax cuts can proceed. The bill repeals a prior provision (Section 27-7-5.1) that would have further reduced taxes under certain fiscal conditions. This directly affects taxpayers earning over $10,000 annually by delaying tax rate decreases until PERS funding meets the specified threshold. The change is a direct policy adjustment to the tax code, not a procedural or commemorative measure.