Mississippi Legislature
2005 Regular Session

House Bill 1693

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Bill Text

History of Actions

Background

Title

Description: Income tax; exempt state or national monetary awards given to educational professionals.

Bill Text: [Introduced]

History of Actions:

1 02/17 (H) Referred To Ways and Means
2 02/22 (H) Title Suff Do Pass
3 02/22 (H) Read the Third Time
4 02/23 (H) Died On Calendar

Background Information:

Effective dateJanuary 1, 2005
DispositionDead
DeadlineRevenue
RevenueYes
Vote type requiredThree/Fifths

House Committee:

Principal Author: Lott

Additional Author: Formby

Code Section: A 027-0007-0015

Title: AN ACT TO AMEND SECTION 27-7-15, MISSISSIPPI CODE OF 1972, TO REVISE THE DEFINITION OF THE TERM "GROSS INCOME" FOR PURPOSES OF THE STATE INCOME TAX LAW TO EXCLUDE COMPENSATION, NOT TO EXCEED THE AGGREGATE SUM OF $20,000.00 FOR ANY TAXABLE YEAR RECEIVED BY AN EDUCATION PROFESSIONAL AS A STATE OR NATIONAL MONETARY AWARD FOR EXEMPLARY OR OUTSTANDING SERVICE SHALL BE EXEMPT FROM GROSS INCOME; AND FOR RELATED PURPOSES.


Information pertaining to this measure was last updated on 02/23/05 at 15:37.

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