l9n/ Mississippi

2014 Regular Session

House Bill 754

Income tax; authorize establishment of catastrophe savings accounts and exempt contributions and distributions from tax.

Did not become law. It stopped in the Senate's Finance Committee on March 18, 2014. The 2014 session has ended.

What it does

The synopsis the Legislature published with the bill.

AN ACT TO AUTHORIZE TAXPAYERS TO ESTABLISH CATASTROPHE SAVINGS ACCOUNTS TO PAY THE AMOUNT OF INSURANCE POLICY DEDUCTIBLES AND OTHER UNINSURED PORTIONS OF RISKS OF LOSS TO THE TAXPAYER'S LEGAL RESIDENCE FROM A HURRICANE, FLOOD, WINDSTORM OR OTHER CATASTROPHIC EVENT; TO PROVIDE THAT THE AMOUNTS CONTRIBUTED TO A CATASTROPHE SAVINGS ACCOUNT, INTEREST INCOME EARNED ON A CATASTROPHE SAVINGS ACCOUNT, AND DISTRIBUTIONS FROM A CATASTROPHE SAVINGS ACCOUNT THAT ARE USED TO PAY QUALIFIED CATASTROPHE EXPENSES SHALL BE EXCLUDED FROM THE TAXABLE GROSS INCOME OF THE ACCOUNT HOLDER; TO PROVIDE THAT ANY STATE INCOME TAX PAID THAT IS ATTRIBUTABLE TO A TAXABLE DISTRIBUTION FROM A CATASTROPHE SAVINGS ACCOUNT SHALL BE INCREASED BY TWO AND ONE-HALF PERCENT OF THE AMOUNT OF THE DISTRIBUTION THAT IS INCLUDABLE IN THE TAXABLE GROSS INCOME OF THE TAXPAYER; TO AMEND SECTIONS 27-7-15 AND 85-3-1, MISSISSIPPI CODE OF 1972, IN CONFORMITY THERETO; 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

3 co-sponsors

Randall Patterson, David Baria, Greg Haney

Its course

January 20 to March 18, 2014, 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 action9 actions on 6 days

In the House of RepresentativesJan 20 to Feb 2536 days

Ways and MeansJan 20 to Feb 2536 days

In the SenateFeb 25 to Mar 18 · stopped21 days

FinanceMar 5 to Mar 18 · stopped13 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 Jan 20 – Feb 25

  1. Jan 20Referred to the House committee on Ways and Means
  2. Feb 25Reported from committee in the House: title sufficient, do pass as a committee substitute
  3. Committee substitute adopted in the House
  4. Passed the House

In the Senate Feb 25 – Mar 18

  1. Feb 25Motion in the House to reconsider entered (Brown (66th), Smith (39th) and Rogers (61st))
  2. Feb 27Motion in the House to reconsider tabled
  3. Mar 3Sent to the Senate
  4. Mar 5Referred to the Senate committee on Finance
  5. Mar 18Died in committee in the Senate
All 9 actions, as published
  1. Jan 20Referred To Ways and MeansHouse of Representatives
  2. Feb 25Title Suff Do Pass Comm SubHouse of Representatives
  3. Feb 25Committee Substitute AdoptedHouse of Representatives
  4. Feb 25PassedHouse of Representatives
  5. Feb 25Motion to Reconsider Entered (Brown (66th), Smith (39th), Rogers (61st))House of Representatives
  6. Feb 27Motion to Reconsider TabledHouse of Representatives
  7. Mar 3Transmitted To SenateHouse of Representatives
  8. Mar 5Referred To FinanceSenate
  9. Mar 18Died In CommitteeSenate