Mississippi Legislature
2007 Regular Session

Senate Bill 3111

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Bill Text

History of Actions

Amendments

Background

Title

Description: Income tax; authorize a credit for a portion of the cost of certain equipment to distribute biodiesel.

Bill Text: [Introduced] [Committee Substitute] [Passed Senate]

History of Actions:

1 02/07 (S) Referred To Finance
2 02/15 (S) Title Suff Do Pass Comm Sub
3 02/21 (S) Committee Substitute Adopted
4 02/21 (S) Amended
5 02/21 (S) Passed As Amended   {Vote}
6 02/22 (S) Transmitted To House
7 02/23 (H) Referred To Ways and Means
8 03/12 (H) Title Suff Do Pass As Amended
9 03/13 (H) Amended
10 03/13 (H) Passed As Amended   {Vote}
11 03/14 (H) Returned For Concurrence
12 03/15 (S) Decline to Concur/Invite Conf
13 03/20 (S) Conferees Named Robertson,Morgan,Walley
14 03/22 (H) Conferees Named Watson,Franks,Coleman (65th)
15 03/25 Suspend from Deadlines by HC 111
16 03/26 Suspend from Deadlines by HC 116
17 03/28 Suspend from Deadlines by HC 119
18 03/29 (S) Died In Conference

Amendments:

Adopted [S] Amendment No 1 (Cmte Sub)   Voice Vote
Adopted [S] Amendment No 2 (Cmte Sub)   Voice Vote
Adopted [H] Committee Amendment No 1   Voice Vote
   
[H] Amendment Report for Senate Bill No. 3111   

Background Information:

Effective dateJanuary 1, 2008
DispositionDead
DeadlineRevenue
RevenueYes
Vote type requiredThree/Fifths
Suspension measureHC 119

Senate Committee:

House Committee:

Principal Author: Lee (35th)

Title: AN ACT TO AUTHORIZE AN INCOME TAX CREDIT FOR TAXPAYERS IN THE BUSINESS OF DISTRIBUTING MOTOR FUEL IN THE AMOUNT OF 25% OF THE COST OF NONMOVABLE EQUIPMENT FOR THE DISTRIBUTION OF BIODIESEL AND THE COST OF INSTALLATION OF SUCH EQUIPMENT; TO REQUIRE THAT THE CREDIT MAY NOT BE CLAIMED UNTIL THE NONMOVABLE EQUIPMENT HAS BEEN UTILIZED EXCLUSIVELY FOR THE DISTRIBUTION OF BIODIESEL FOR NOT LESS THAN 12 CONSECUTIVE MONTHS; TO PROVIDE THAT ANY TAX CREDIT CLAIMED UNDER THIS ACT BUT NOT USED MAY BE CARRIED FORWARD FOR FIVE CONSECUTIVE TAXABLE YEARS; TO PROVIDE THAT THE CREDIT UTILIZED IN ANY YEAR SHALL BE LIMITED TO AN AMOUNT NOT GREATER THAN THE TOTAL STATE INCOME TAX LIABILITY OF THE TAXPAYER; AND FOR RELATED PURPOSES.


Information pertaining to this measure was last updated on 05/08/07 at 16:10.

End Of Document
2007/pdf/History/SB/SB3111.htm