Introduced
by
To authorize a temporary refundable Single Business Tax credit equal to 15 percent of the property taxes paid by businesses to the state and local governments on industrial (but not commercial) tools and equipment ("personal property tax") in 2007 only. House Bill 5460 and 5461 offer the same tax break in 2008 and 2009.
Referred to the Committee on Finance
Reported without amendment
With the recommendation that the substitute (S-1) be adopted and that the bill then pass.
Substitute offered
To replace the previous version of the bill with one that revises details but does not change the substance of the bill as previously described.
The substitute passed by voice vote
Substitute offered
by
To replace the previous version of the bill with one that clarifies that the credit will be for taxes actually paid, not those levied.
The substitute failed by voice vote
Amendment offered
by
To tie-bar the bill to Senate Bill 295, meaning this bill cannot become law unless that one does also, which addresses an issue raised by a recent Supreme Court ruling related to commercial property tax assessment changes, occupancy rates, and the Constitutional tax cap put in place by Proposal A in 1994.
The amendment failed 13 to 23 (details)
Amendment offered
by
To tie-bar the bill to Senate Bill 453, meaning this bill cannot become law unless that one does also. SB 453 would establish a state earned income tax credit, which is a kind of "reverse income tax”.
The amendment failed 14 to 23 (details)
Amendment offered
by
To tie-bar the bill to Senate Bill 318, meaning this bill cannot become law unless that one does also. SB 453 would make it unlawful to pay less than $5.90 an hour to an hourly employee beginning July 1, 2005, less than $6.65 beginning Jan. 1, 2006, and less than $7.15 beginning Jan. 1, 2007, notwithstanding any voluntary agreement between the employer and employee.
The amendment failed 15 to 22 (details)
Amendment offered
by
To tie-bar the bill to Senate Bill 185, meaning this bill cannot become law unless that one does also. SB 185 would increase the maximum length of time an individual may receive unemployment insurance benefits.
The amendment failed 15 to 22 (details)
Passed in the Senate 36 to 1 (details)
Referred to the Committee on Tax Policy
Reported without amendment
Without amendment and with the recommendation that the bill pass.
Amendment offered
by
To give the Department of Treasury discretion regarding how to handle the accounting for tax credits end up being refunded (because the taxpayer did not owe SBT for the year of the credit.
The amendment passed by voice vote
Passed in the House 106 to 2 (details)
To authorize a temporary refundable Single Business Tax credit equal to 15 percent of the property taxes paid by businesses to the state and local governments on industrial (but not commercial) tools and equipment ("personal property tax") in 2007 only. House Bill 5460 and 5461 offer the same tax break in 2008 and 2009.
To concur with the House-passed version of the bill.
Passed in the Senate 34 to 2 (details)
