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CS/HB 7185: Corporate Income Tax

GENERAL BILL by Economic Affairs Committee ; Finance and Tax Committee ; Precourt ; (CO-INTRODUCERS) Abruzzo ; Bernard ; Burgin ; Campbell ; Ford ; Glorioso ; Kiar ; Patronis ; Plakon ; Young

Corporate Income Tax; Provides for adoption of 2011 version of Internal Revenue Code; specifies treatment by this state of certain depreciation & expensing of assets that are allowed for federal income tax purposes; authorizes executive director of DOR to adopt emergency rules; provides appropriation; provides for reversion & reappropriation; provides for retroactive application; increases amount of income exempt from taxation; amends amount of income exempt from franchise tax imposed on banks & savings associations. APPROPRIATION: $99,740

Effective Date: except as otherwise provided
Last Action: 6/27/2011 - Chapter No. 2011-229
Bill Text: Web Page | PDF



Bill History

Date Chamber Action
3/28/2011 House • Filed
• Introduced -HJ 329
3/29/2011 House • Referred to Economic Affairs Committee -HJ 366
4/5/2011 House • On Committee agenda-- Economic Affairs Committee, 04/07/11, 8:00 am, Reed Hall
4/7/2011 House • CS by- Economic Affairs Committee; YEAS 7 NAYS 3 -HJ 611
4/11/2011 House • Pending review of CS -under Rule 7.19(c)
• CS by Economic Affairs Committee read 1st time -HJ 609
4/12/2011 House • Placed on Calendar -HJ 614
4/26/2011 House • Placed on Special Order Calendar, 04/28/11
4/28/2011 House • Read 2nd time -HJ 863
• Read 3rd time -HJ 864
• CS passed; YEAS 103 NAYS 12 -HJ 864
4/28/2011 Senate • In Messages
4/29/2011 Senate • Received -SJ 618
• Referred to Budget Subcommittee on Finance and Tax; Budget -SJ 618
5/3/2011 Senate • Withdrawn from Budget Subcommittee on Finance and Tax; Budget -SJ 777
• Placed on Calendar, on 2nd reading
• Substituted for CS/CS/SB 1998 -SJ 777
• Read 2nd time -SJ 777
• Amendment(s) adopted (211262) -SJ 777
• Read 3rd time -SJ 778
• CS passed as amended; YEAS 39 NAYS 0 -SJ 778
5/3/2011 House • In returning messages
5/5/2011 House • Concurred in 1 amendment(s) (211262) -HJ 1174
• CS passed as amended; YEAS 110 NAYS 5 -HJ 1174
• Ordered engrossed, then enrolled -HJ 1175
6/9/2011 • Signed by Officers and presented to Governor
6/24/2011 • Approved by Governor
6/27/2011 • Chapter No. 2011-229