2011 Regular Session

House Bill 1456

Income tax; authorize five-year carryback for net operating loss attributable to Gulf oil spill.

Did not become law. It stopped in the House of Representatives's Ways and Means Committee on February 23, 2011. The 2011 session has ended.

What it does

The synopsis the Legislature published with the bill.

AN ACT TO AMEND SECTION 27-7-17, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT IF A TAXPAYER HAS A QUALIFIED OIL SPILL LOSS THAT IS A NET OPERATING LOSS UNDER THE STATE INCOME TAX LAWS, THE LOSS SHALL BE A NET OPERATING LOSS CARRYBACK TO EACH OF THE FIVE TAXABLE YEARS PRECEDING THE YEAR OF THE LOSS; TO PROVIDE THAT IF THE NET OPERATING LOSS FOR ANY TAXABLE YEAR IS NOT EXHAUSTED BY CARRYBACKS TO THE FIVE TAXABLE YEARS PRECEDING THE TAXABLE YEAR OF THE LOSS, THEN THERE SHALL BE A NET OPERATING LOSS CARRYOVER TO EACH OF THE TWENTY TAXABLE YEARS FOLLOWING THE TAXABLE YEAR OF THE LOSS BEGINNING WITH ANY TAXABLE YEAR AFTER THE TAXABLE YEAR OF THE LOSS; TO DEFINE THE TERMS "RECOVERY ZONE", "GULF OIL SPILL" AND "QUALIFIED OIL SPILL LOSS"; AND FOR RELATED PURPOSES.

Its course

February 7 to February 23, 2011, 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 RepresentativesFeb 7 to Feb 23 · stopped16 days

Ways and MeansFeb 7 to Feb 23 · stopped16 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 Feb 7 – Feb 23

Feb 7Referred to the House committee on Ways and Means
Feb 23Died in committee in the House

All 2 actions, as published

Feb 7Referred To Ways and MeansHouse of Representatives
Feb 23Died In CommitteeHouse of Representatives