l9n/ Mississippi

2011 Regular Session

Senate Bill 2515

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 15, 2011. The 2011 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 2013 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

11 co-sponsors

Michael Watson, Perry Lee, Joey Fillingane, Dean Kirby, Walter Michel, Lee Yancey, T. O. Moffatt, Chris McDaniel, Eugene S. Clarke, Billy Hudson, Bob M. Dearing

Its course

January 13 to March 15, 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 action6 actions on 6 days

In the SenateJan 13 to Feb 2139 days

FinanceJan 13 to Feb 1735 days

In the House of RepresentativesFeb 21 to Mar 15 · stopped22 days

Ways and MeansFeb 23 to Mar 15 · stopped20 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 13 – Feb 21

  1. Jan 13Referred to the Senate committee on Finance
  2. Feb 17Reported from committee in the Senate: title sufficient, do pass
  3. Feb 21Passed the Senate

In the House of Representatives Feb 22 – Mar 15

  1. Feb 22Sent to the House
  2. Feb 23Referred to the House committee on Ways and Means
  3. Mar 15Died in committee in the House
All 6 actions, as published
  1. Jan 13Referred To FinanceSenate
  2. Feb 17Title Suff Do PassSenate
  3. Feb 21PassedSenate
  4. Feb 22Transmitted To HouseSenate
  5. Feb 23Referred To Ways and MeansHouse of Representatives
  6. Mar 15Died In CommitteeHouse of Representatives