l9n/ Mississippi

2012 Regular Session

House Bill 1519

Income tax; certain corporate distributions tax free if they are part of a transaction that qualifies under Section 355, Internal Rev. Code.

Became law as Chapter 482, Laws of 2012, signed April 23, 2012, 53 days after it was filed.

What it does

The synopsis the Legislature published with the bill.

AN ACT TO AMEND SECTION 27-7-9, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT, WITH RESPECT TO A CORPORATION THAT IS MAKING CERTAIN DISTRIBUTIONS TO A STOCKHOLDER, NO GAIN SHALL BE RECOGNIZED FROM SUCH DISTRIBUTION PROVIDED THE DISTRIBUTION IS A PART OF A TRANSACTION THAT QUALIFIES FOR TAX-FREE TREATMENT UNDER THE PROVISIONS OF SECTION 355 OR 368 OF THE INTERNAL REVENUE CODE; TO PROVIDE THAT ADDITIONALLY, WITH RESPECT TO A DISTRIBUTING CORPORATION, NO GAIN SHALL BE RECOGNIZED FROM SUCH A DISTRIBUTION PROVIDED THE DISTRIBUTION IS PURSUANT TO AN OVERALL PLAN TO FACILITATE AN ULTIMATE DISTRIBUTION THAT QUALIFIES FOR TAX-FREE TREATMENT UNDER THE PROVISIONS OF SECTION 355 OR 368 OF THE INTERNAL REVENUE CODE; 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

1 co-sponsor

Deborah Butler Dixon

Its course

March 1 to April 23, 2012, 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 action13 actions on 10 days

In the House of RepresentativesMar 1 to Mar 2120 days

Ways and MeansMar 1 to Mar 2120 days

In the SenateMar 21 to Apr 515 days

FinanceMar 26 to Mar 271 day

Back in the House of RepresentativesApr 5 to Apr 1712 days

With the GovernorApr 17 to Apr 236 days

Amendments

Each amendment offered, and what became of it.

  • Senate committee amendmentAdopted

    Adopted Apr 5

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 Mar 1 – Mar 21

  1. Mar 1Referred to the House committee on Ways and Means
  2. Mar 21Reported from committee in the House: title sufficient, do pass
  3. Passed the House

In the Senate Mar 22 – Apr 5

  1. Mar 22Sent to the Senate
  2. Mar 26Referred to the Senate committee on Finance
  3. Mar 27Reported from committee in the Senate: title sufficient, do pass as amended
  4. Apr 5Amended in the Senate
  5. Passed the Senate as amended

Back in the House of Representatives Apr 10 – Apr 17

  1. Apr 10Returned to the House to concur in the Senate's amendments
  2. Apr 11Concurred in the House in the Senate's amendments
  3. Apr 17Enrolled bill signed in the House

To the Governor Apr 17 – Apr 23

  1. Apr 17Enrolled bill signed in the Senate
  2. Apr 23Approved by the Governor
All 13 actions, as published
  1. Mar 1Referred To Ways and MeansHouse of Representatives
  2. Mar 21Title Suff Do PassHouse of Representatives
  3. Mar 21PassedHouse of Representatives
  4. Mar 22Transmitted To SenateHouse of Representatives
  5. Mar 26Referred To FinanceSenate
  6. Mar 27Title Suff Do Pass As AmendedSenate
  7. Apr 5AmendedSenate
  8. Apr 5Passed As AmendedSenate
  9. Apr 10Returned For ConcurrenceSenate
  10. Apr 11Concurred in Amend From SenateHouse of Representatives
  11. Apr 17Enrolled Bill SignedHouse of Representatives
  12. Apr 17Enrolled Bill SignedSenate
  13. Apr 23Approved by GovernorGovernor