Mississippi Legislature
2007 Regular Session

House Bill 1585

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Bill Text

History of Actions

Amendments

Background

Title

Description: Income tax; no gain or loss recognized on exchange of property equal in value which is outside the state.

Bill Text: [Introduced] [Passed House] [Sent to Governor]

History of Actions:

1 01/25 (H) Referred To Ways and Means
2 02/20 (H) Title Suff Do Pass
3 02/20 (H) Amended
4 02/20 (H) Passed As Amended   {Vote}
5 02/20 (H) Motion to Reconsider Entered
6 02/22 (H) Reconsidered
7 02/22 (H) Amended
8 02/22 (H) Passed As Amended   {Vote}
9 02/23 (H) Transmitted To Senate
10 02/26 (S) Referred To Finance
11 03/07 (S) Title Suff Do Pass As Amended
12 03/13 (S) Amended
13 03/13 (S) Passed As Amended   {Vote}
14 03/14 (S) Returned For Concurrence
15 03/15 (H) Concurred in Amend From Senate   {Vote}
16 03/21 (H) Enrolled Bill Signed
17 03/21 (S) Enrolled Bill Signed
18 03/27 Approved by Governor

Amendments:

Adopted [H] Amendment No 1   Voice Vote
Adopted [H] Amendment No 2   Voice Vote
Adopted [S] Committee Amendment No 1   Voice Vote
   
[S] Amendment Report for House Bill No. 1585   

Background Information:

Effective dateJanuary 1, 2007
DispositionLaw
DeadlineRevenue
RevenueYes
Vote type requiredThree/Fifths
Chapter number491

House Committee:

Senate Committee:

Principal Author: McBride

Additional Authors: Akins, Gadd, Reynolds

Code Section: A 027-0007-0009

Title: AN ACT TO AMEND SECTION 27-7-9, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT NO GAIN OR LOSS SHALL BE RECOGNIZED UNDER THE STATE INCOME TAX LAWS ON CERTAIN EXCHANGES OF PROPERTY IF NO GAIN OR LOSS IS RECOGNIZED WITH REGARD TO SUCH EXCHANGES UNDER THE INTERNAL REVENUE CODE AND THAT NO GAIN SHALL BE RECOGNIZED ON PROPERTY THAT IS COMPULSORILY OR INVOLUNTARILY CONVERTED IF NO GAIN IS RECOGNIZED WITH REGARD TO SUCH PROPERTY UNDER THE INTERNAL REVENUE CODE; TO CONFORM THE STATE INCOME TAX LAW WITH FEDERAL LAW REGARDING THE PERIOD FOR NONRECOGNITION OF GAIN ON THE REPLACEMENT OF DAMAGED PROPERTY IN THE HURRICANE KATRINA DISASTER AREA AS PROVIDED FOR IN THE KATRINA EMERGENCY TAX RELIEF ACT OF 2005; AND FOR RELATED PURPOSES.


Information pertaining to this measure was last updated on 05/08/07 at 15:07.

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2007/html/History/HB/HB1585.htm