l9n/ Mississippi

2012 Regular Session

House Bill 552

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 28, 2012. The 2012 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 2015 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

5 co-sponsors

Charles Busby, Scott DeLano, Timmy Ladner, Bill Pigott, Gary V. Staples

Its course

February 14 to March 28, 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 action2 actions on 2 days

In the House of RepresentativesFeb 14 to Mar 28 · stopped43 days

Ways and MeansFeb 14 to Mar 28 · stopped43 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 14 – Mar 28

  1. Feb 14Referred to the House committee on Ways and Means
  2. Mar 28Died in committee in the House
All 2 actions, as published
  1. Feb 14Referred To Ways and MeansHouse of Representatives
  2. Mar 28Died In CommitteeHouse of Representatives