House Committee on Ways and Means
June 9, 2016
9:00 a.m.
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
HB5
LEGER
TAX/CORP INCOME
- Provides with respect to the applicability and effectiveness of Act Nos. 30 and 31 of the 2016 First Extraordinary Session of the Legislature which eliminated the deductibility of federal income taxes paid for purposes of computing corporate income taxes (Items #39 & 40) (EG SEE FISC NOTE GF RV See Note)
HB6
LEGER
TAX/INCOME TAX
- Provides with respect to the applicability and effectiveness of Act No. 8 from the 2016 First Extraordinary Session of the Legislature which established a flat rate for purposes of calculating corporation income tax liability (Item #38) (EG +$3,300,000 GF RV See Note)
HB19
MONTOUCET
TAX 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 #36) (OR +$48,000,000 GF RV See Note)
HB21
REYNOLDS
TAX/INCOME TAX
- Reduces the rates for purposes of calculating the tax on the taxable income of individuals (Item #43) (OR -$148,500,000 GF RV See Note)
HB31
JACKSON-ANDREWS
TAX CREDITS
- Reduces the amount of certain income and corporation franchise tax credits (Item #36) (OR +$4,300,000 GF RV See Note)
HB34
JACKSON-ANDREWS
TAX/CORP INCOME
- Reduces the amount of certain corporate income tax exclusions and deductions (Item #37) (OR +$35,600,000 GF RV See Note)
HB40
REYNOLDS
TAX/INCOME TAX
- Changes the middle and upper income tax brackets for purposes of calculating the individual income tax (Item #43) (OR +$388,000,000 GF RV See Note)
HB50
MONTOUCET
TAX/INCOME TAX
- Reduces the individual income tax deduction for net capital gains (Item #41) (EN INCREASE GF RV See Note)
HB59
CONNICK
CAPITAL OUTLAY
- Provides for the comprehensive Capital Outlay budget (Item #3)
HB61
LEGER
TAX CREDITS
- Provides relative to the earned income tax credit (Item #47) (OR -$47,000,000 GF RV See Note)
HB63
SAM JONES
CAPITAL OUTLAY
- Provides for the comprehensive Capital Outlay budget (Item #3)
HB64
BROADWATER
TAX/INCOME TAX
- Repeals the corporate income tax and franchise taxes and prohibits certain corporate taxpayers from claiming certain refundable tax credits (Items #43 & 44) (OR DECREASE GF RV See Note)
OTHER BUSINESS
ANNOUNCEMENTS
ADJOURNMENT