l9n/ Mississippi

2010 Regular Session

House Bill 1578

Income tax; increase credit for ad valorem tax paid on inventory.

Did not become law. It stopped in the House of Representatives's Ways and Means Committee on February 24, 2010. The 2010 session has ended.

What it does

The synopsis the Legislature published with the bill.

AN ACT TO AMEND SECTION 27-7-22.5, MISSISSIPPI CODE OF 1972, TO INCREASE THE INCOME TAX CREDIT FOR AD VALOREM TAXES PAID BY TAXPAYERS ON CERTAIN INVENTORY; TO INCLUDE RAW MATERIALS OR WORKS-IN-PROCESS IN THE TYPE OF INVENTORY COVERED BY THE CREDIT; TO PROVIDE THAT BEGINNING WITH THE 2012 TAXABLE YEAR A TAXPAYER MAY CLAIM A PERCENTAGE OF THE AD VALOREM TAXES THAT HE PAYS ON INVENTORY FOR THE CREDIT; TO INCREASE THE PERCENTAGE AMOUNT OF AD VALOREM TAXES PAID BY THE TAXPAYER THAT MAY BE CLAIMED FOR SUCH CREDIT EACH TAXABLE YEAR FOR FIVE TAXABLE YEARS UNTIL SUCH TIME AS THE ENTIRE AMOUNT OF AD VALOREM TAX PAID ON INVENTORY BY THE TAXPAYER MAY BE UTILIZED FOR SUCH CREDIT; TO PROVIDE THAT THE TAXPAYER SHALL BE ELIGIBLE FOR A PAYMENT FROM THE STATE IN THE AMOUNT THAT THE AD VALOREM TAX CREDIT EXCEEDS THE AMOUNT OF INCOME TAX DUE THE STATE IN THE CALENDAR YEAR IN WHICH THE CREDIT IS CLAIMED; AND FOR RELATED PURPOSES.

Sponsors

Who carried the bill in each chamber, and who signed on. Each name leads to the member's page.

In the House of Representatives

Its course

January 27 to February 24, 2010, on one scale. In the top row each mark is a day something happened; taller marks are busier days.

Each committee stop sits inside its chamber.

Every action2 actions on 2 days

In the House of RepresentativesJan 27 to Feb 24 · stopped28 days

Ways and MeansJan 27 to Feb 24 · stopped28 days

Text

Each version as the Legislature printed it.

l9n doesn't hold this bill's text yet.

What happened

In l9n's words, one line for each step. Every action as the Legislature published it is below.

In the House of Representatives Jan 27 – Feb 24

  1. Jan 27Referred to the House committee on Ways and Means
  2. Feb 24Died in committee in the House
All 2 actions, as published
  1. Jan 27Referred To Ways and MeansHouse of Representatives
  2. Feb 24Died In CommitteeHouse of Representatives