Bill Text | History of Actions | Background | Title |
Description: Income tax; remove lifetime limit on credit for certain reforestation expense; create and fund UMMC Enhancement Fund.
Bill Text: [Introduced]
| 1 | 01/15 (H) Referred To Ways and Means | |
| 2 | 01/30 (H) Died In Committee |
| Effective date | ** See Text | |
| Disposition | Dead | |
| Deadline | General Bill/Constitutional Amendment | |
| Revenue | No | |
| Vote type required | Three/Fifths |
House Committee:
Principal Author: Brown
Code Sections: A 027-0007-0022.15, BF 027-0007-0017, A 075-0076-0129, BF 027-0025-0505
Title: AN ACT TO AMEND SECTION 27-7-22.15, MISSISSIPPI CODE OF 1972, TO DELETE THE LIMIT ON THE MAXIMUM AMOUNT OF THE INCOME TAX CREDIT FOR CERTAIN REFORESTATION EXPENSES THAT MAY BE CLAIMED BY AN ELIGIBLE TAXPAYER DURING HIS LIFETIME; TO BRING FORWARD SECTION 27-7-17, MISSISSIPPI CODE OF 1972, WHICH AUTHORIZES VARIOUS STATE INCOME TAX DEDUCTIONS; TO CREATE A SPECIAL FUND IN THE STATE TREASURY TO BE KNOWN AS THE UNIVERSITY OF MISSISSIPPI MEDICAL CENTER ENHANCEMENT FUND; TO PROVIDE THAT MONIES IN THE SPECIAL FUND SHALL BE EXPENDED BY THE UNIVERSITY OF MISSISSIPPI MEDICAL CENTER, UPON APPROPRIATION, FOR THE OPERATION AND MAINTENANCE OF THE MEDICAL CENTER; TO AMEND SECTION 75-76-129, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT A CERTAIN AMOUNT OF THE COLLECTIONS FROM GAMING TAXES AND FEES EACH FISCAL YEAR SHALL BE DEPOSITED INTO THE UNIVERSITY OF MISSISSIPPI MEDICAL CENTER ENHANCEMENT FUND AND THE TRAUMA CARE SYSTEMS FUND; TO PROVIDE THE UNIVERSITY OF MISSISSIPPI MEDICAL CENTER WITH CERTAIN SUBROGATION RIGHTS AGAINST THIRD PARTIES FOR THE AMOUNT OF UNCOMPENSATED CARE OR TREATMENT PROVIDED TO INDIVIDUALS FOR INJURIES, DISEASE OR SICKNESS CAUSED UNDER CIRCUMSTANCES CREATING A CAUSE OF ACTION AGAINST THOSE THIRD PARTIES; TO BRING FORWARD FOR THE PURPOSE OF AMENDMENT SECTIONS 27-25-505, 27-25-506 AND 29-7-3, MISSISSIPPI CODE OF 1972, WHICH PROVIDE FOR THE DISTRIBUTION OF OIL AND GAS SEVERANCE TAXES AMONG VARIOUS GOVERNMENTAL ENTITIES, PROVIDE THAT A PORTION OF THE STATE'S SHARE OF OIL AND GAS SEVERANCE TAXES COLLECTED SHALL BE DEPOSITED INTO THE EDUCATIONAL IMPROVEMENT TRUST FUND, AND SET FORTH PROCEDURES FOR THE LEASE OF STATE LANDS FOR OIL, GAS OR OTHER MINERALS; AND FOR RELATED PURPOSES.
End Of Document
2007/html/History/HB/HB1531.htm