House Committee on Ways and Means
February 19, 2016
9:00 am
Room 6

Adjourned
 




  BLUE = already considered.   RED = currently being considered.   BLACK = not yet considered.
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CALL TO ORDER

ROLL CALL

DISCUSSION OF LEGISLATION
 HCR3HAVARDTAX/SALES-USE-EXEMPT - Urges and requests the Department of Revenue to reexamine their revenue ruling determination that a certain rate reduction and tax exemption is applicable to sellers of nonprepared foods
 HB16LEGERTAX/INCOME TAX - Requires that certain deductible items be added-back on certain corporate income tax returns (Item #5)
 HB19JAMESTAX/CORP FRANCHISE - Provides relative to the entities to which corporate franchise tax applies (Item #28) (EN +$10,340,000 GF RV See Note)
 HB20BROADWATERTAX/CORP INCOME - Provides relative to the net operating loss deduction for corporate income tax (Item #5) (EN SEE FISC NOTE GF RV See Note)
 HB22JACKSON-ANDREWSTAX/TAX REBATES - Repeals the three-year sunset of certain reductions to tax rebates (Item #11) (EN SEE FISC NOTE GF RV See Note)
 HB23JACKSON-ANDREWSTAX/CORP INCOME - Repeals three-year sunset of certain reductions to corporate income tax deductions, exemptions, and exclusions (Item #12) (RE1 SEE FISC NOTE GF RV See Note)
 HB24JACKSON-ANDREWSTAX CREDITS - Repeals the three-year sunset of certain reductions to income and corporation franchise tax credits (Item #10) (EN NO IMPACT GF RV See Note)
 HB25JACKSON-ANDREWSTAX/CORP INCOME - Provides relative to the net operating loss deduction for corporate income tax (Item #12) (OR INCREASE GF RV See Note)
 HB35MORRISTAX CREDITS - Increases the refundable amount of the tax credit for local inventory taxes paid to political subdivisions (Item #31) (OR -$20,000,000 GF RV See Note)
 HB36MORRISTAX/CORP INCOME - Reduces the rates and modifies the brackets for purposes of calculating corporate income tax liability (Item #3) (OR DECREASE GF RV See Note)
 HB37BACALATAX CREDITS - Accelerates the termination date for the solar energy systems tax credit (Item #26) (OR SEE FISC NOTE GF RV)
 HB46JAMESTAX CREDITS - Reduces the amount of certain ad valorem tax credits and provides for the carry forward rather than the refund of a certain portion of excess credit amounts (Item #31) (EG +$48,000,000 GF RV See Note)
 HB47JAMESTAX CREDITS - Reduces the amount of certain ad valorem tax credits and provides for the carryforward rather than the refund of a certain portion of excess credit amounts (Item #31) (EG +$48,000,000 GF RV See Note)
 HB50ABRAMSONTAX/CORP INCOME - Provides relative to the state taxation of corporations (Items #3 and 19) (OR DECREASE GF RV See Note)
 HB54BROADWATERTAX/SALES & USE - Requires the advance payment of sales tax (Item #35) (EG1 SEE FISC NOTE GF RV)
 HB55LEGERTAX/INCOME TAX - Requires that certain deductible items be added-back on certain corporate income tax returns (Item #5) (EN INCREASE GF RV See Note)
 HB57STOKESTAX CREDITS - Repeals three-year sunset on certain eligibility requirements relative to the income tax credit for net taxes paid to other states (Item #13) (EGF DECREASE GF RV See Note)
 HB58JACKSON-ANDREWSTAX/CORP INCOME - Provides relative to the apportionment formula for computing corporate income tax (Item #5) (OR SEE FISC NOTE GF RV)
 HB59MORENOTAX/SALES-USE, STATE - Provides relative to imposition of the state sales and use tax on hotels (Items #9 and 30) (EN INCREASE SD RV See Note)
 HB60HAVARDTAX/SALES-USE-EXEMPT - Provides with respect to the sales of certain food and beverages at convenience stores (Item #36) (OR INCREASE GF RV See Note)
 HB61MORRISTAX/SALES & USE - To provide with respect to the applicability of certain exclusions and exemptions from state sales and use taxes (EN +$272,300,000 GF RV See Note)
 HB62JACKSON-ANDREWSTAX/SALES-USE, STATE - Impose a one cent sales and use tax (Item #9) (EN +$880,600,000 GF RV See Note)
 HB64MONTOUCETTAX/SALES-USE, ST-EXEMPT - Provides for the extent of the state sales and use tax exemption for business utilities (Items #9 and 36) (EG +$238,200,000 GF RV See Note)
 HB65MONTOUCETTAX/SALES & USE - Requires the advance payment of sales tax (Item #35) (OR INCREASE GF RV See Note)
 HB72SHADOINTAX/SALES-USE, STATE - Increases the state sales tax on telecommunications services (Item #24) (EN +$2,200,000 GF RV See Note)
 HB73MORRISTAX/INCOME TAX - Requires that certain deductible items be added-back on certain corporate income tax returns (Item #5) (OR INCREASE GF RV See Note)
 HB74MORRISTAX/CORP INCOME - Provides for methods of determining income subject to the corporation income tax (Item #5) (OR INCREASE GF RV See Note)
 HB75STOKESTAX/INCOME TAX - Changes the rates and brackets for purposes of calculating individual income tax liability and eliminates certain deductions (Item #3) (RE1 SEE FISC NOTE GF RV See Note)
 HB76STOKESTAX/INCOME TAX - (Constitutional Amendment) Eliminates the income tax deduction for federal income taxes paid for purposes of computing individual and corporate income taxes and references to the maximum amount of individual income tax rates and brackets (Item #3) (RE1 SEE FISC NOTE GF RV See Note)

OTHER BUSINESS
 MORNING: Various state agencies brief the committee
 AFTERNOON: Various state agencies brief the committee

ANNOUNCEMENTS