l9n/ Mississippi

2010 Regular Session

Senate Bill 3027

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 March 16, 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 Senate

3 co-sponsors

Bob M. Dearing, Alan Nunnelee, Michael Watson

Its course

January 18 to March 16, 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 action7 actions on 6 days

In the SenateJan 18 to Feb 2437 days

FinanceJan 18 to Feb 2336 days

In the House of RepresentativesFeb 24 to Mar 16 · stopped20 days

Ways and MeansMar 1 to Mar 16 · stopped15 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 Senate Jan 18 – Feb 24

  1. Jan 18Referred to the Senate committee on Finance
  2. Feb 23Reported from committee in the Senate: title sufficient, do pass as a committee substitute
  3. Feb 24Committee substitute adopted in the Senate
  4. Passed the Senate

In the House of Representatives Feb 25 – Mar 16

  1. Feb 25Sent to the House
  2. Mar 1Referred to the House committee on Ways and Means
  3. Mar 16Died in committee in the House
All 7 actions, as published
  1. Jan 18Referred To FinanceSenate
  2. Feb 23Title Suff Do Pass Comm SubSenate
  3. Feb 24Committee Substitute AdoptedSenate
  4. Feb 24PassedSenate
  5. Feb 25Transmitted To HouseSenate
  6. Mar 1Referred To Ways and MeansHouse of Representatives
  7. Mar 16Died In CommitteeHouse of Representatives