Mississippi Legislature
2007 Regular Session

House Bill 1727

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Bill Text

History of Actions

Amendments

Background

Title

Description: Income tax and insurance premium tax; authorize a credit for certain investments made by qualified development entities.

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

History of Actions:

1 02/15 (H) Referred To Ways and Means
2 02/19 (H) Title Suff Do Pass
3 02/20 (H) Read the Third Time
4 02/21 (H) Passed   {Vote}
5 02/22 (H) Transmitted To Senate
6 02/23 (S) Referred To Finance
7 03/12 (S) Title Suff Do Pass As Amended
8 03/13 (S) Amended
9 03/13 (S) Passed As Amended   {Vote}
10 03/14 (S) Returned For Concurrence
11 03/15 (H) Decline to Concur/Invite Conf
12 03/19 (H) Conferees Named Watson,Brown,Moss
13 03/21 (S) Conferees Named Robertson,Hewes,Thomas
14 03/24 (H) Conference Report Filed
15 03/24 (S) Conference Report Filed
16 03/26 Suspend from Deadlines by HC 116
17 03/27 (S) Conference Report Adopted   {Vote}
18 03/28 (H) Conference Report Adopted   {Vote}
19 04/03 (H) Enrolled Bill Signed
20 04/04 (S) Enrolled Bill Signed
21 04/18 Approved by Governor

Amendments/Conference Report:

Adopted [S] Committee Amendment No 1   Voice Vote
   
[S] Amendment Report for House Bill No. 1727   

Conference Report

Background Information:

Effective dateJanuary 1, 2007
DispositionLaw
DeadlineRevenue
RevenueYes
Vote type requiredThree/Fifths
Chapter number528

House Committee:

Senate Committee:

Principal Author: Watson

Additional Authors: Brown, Guice

Code Section: A 027-0015-0129

Title: AN ACT TO PROVIDE FOR AN INCOME TAX AND INSURANCE PREMIUM TAX CREDIT FOR TAXPAYERS THAT PAY A QUALIFIED COMMUNITY DEVELOPMENT ENTITY FOR QUALIFIED EQUITY INVESTMENTS; TO PROVIDE THAT THE AMOUNT OF THE CREDIT SHALL BE EQUAL TO A CERTAIN PERCENTAGE OF THE ADJUSTED PURCHASE PRICE PAID TO THE QUALIFIED COMMUNITY DEVELOPMENT ENTITY FOR THE QUALIFIED EQUITY INVESTMENT; TO PROVIDE THAT THE MAXIMUM AGGREGATE AMOUNT OF THE CREDITS THAT MAY BE ALLOCATED TO ALL TAXPAYERS IN ANY ONE STATE FISCAL YEAR SHALL NOT EXCEED $15,000,000.00 AND THAT THE CREDITS SHALL BE ALLOCATED BY THE MISSISSIPPI DEVELOPMENT AUTHORITY; TO PROVIDE FOR THE RECAPTURE OF ALL OR A PORTION OF THE CREDIT UNDER CERTAIN CIRCUMSTANCES; TO AMEND SECTION 27-15-129, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT THE INVESTMENTS THAT MAY REDUCE A TAXPAYER'S INSURANCE PREMIUM TAX LIABILITY UNDER SUCH SECTION SHALL NOT INCLUDE ANY INVESTMENT FOR WHICH A CREDIT IS ALLOCATED UNDER THIS ACT; AND FOR RELATED PURPOSES.


Information pertaining to this measure was last updated on 05/15/07 at 07:52.

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2007/html/History/HB/HB1727.htm