MS HB1134 | 2015 | Regular Session

Status

Completed Legislative Action
Spectrum: Partisan Bill (Republican 4-0)
Status: Passed on April 20 2015 - 100% progression
Action: 2015-04-20 - Approved by Governor
Text: Latest bill text (Enrolled) [HTML]

Summary

An Act To Authorize Taxpayers To Establish Catastrophe Savings Accounts To Pay The Amount Of Insurance Policy Deductibles And Other Uninsured Portions Of Risks Of Loss To The Taxpayer's Legal Residence From A Hurricane, Flood, Windstorm Or Other Catastrophic Event; To Provide That The Amounts Contributed To A Catastrophe Savings Account, Interest Income Earned On A Catastrophe Savings Account, And Distributions From A Catastrophe Savings Account That Are Used To Pay Qualified Catastrophe Expenses Shall Be Excluded From The Taxable Gross Income Of The Account Holder; To Provide That Any State Income Tax Paid That Is Attributable To A Taxable Distribution From A Catastrophe Savings Account Shall Be Increased By Two And One-half Percent Of The Amount Of The Distribution That Is Includable In The Taxable Gross Income Of The Taxpayer; To Amend Sections 27-7-15 And 85-3-1, Mississippi Code Of 1972, In Conformity Thereto; And For Related Purposes.

Tracking Information

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Title

Income tax; authorize establishment of Catastrophe savings accounts and exempt contributions and distributions from tax.

Sponsors


Roll Calls

2015-03-29 - House - House Conference Report Adopted (Y: 120 N: 0 NV: 1 Abs: 0) [PASS]
2015-03-29 - Senate - Senate Conference Report Adopted (Y: 52 N: 0 NV: 0 Abs: 0) [PASS]
2015-03-17 - Senate - Senate Passed As Amended (Y: 51 N: 0 NV: 1 Abs: 0) [PASS]
2015-02-24 - House - House Passed (Y: 121 N: 0 NV: 1 Abs: 0) [PASS]

History

DateChamberAction
2015-04-20 Approved by Governor
2015-04-06HouseEnrolled Bill Signed
2015-04-06SenateEnrolled Bill Signed
2015-03-29HouseConference Report Adopted
2015-03-29SenateConference Report Adopted
2015-03-28HouseConference Report Filed
2015-03-28SenateConference Report Filed
2015-03-27SenateConferees Named Fillingane,Ward,Wiggins
2015-03-23HouseConferees Named Smith (39th),Rogers (61st),White
2015-03-18HouseDecline to Concur/Invite Conf
2015-03-18SenateReturned For Concurrence
2015-03-17SenatePassed As Amended
2015-03-17SenateAmended
2015-03-16SenateTitle Suff Do Pass As Amended
2015-02-26SenateReferred To Finance
2015-02-25HouseTransmitted To Senate
2015-02-24HousePassed
2015-02-24HouseCommittee Substitute Adopted
2015-02-17HouseTitle Suff Do Pass Comm Sub
2015-01-19HouseReferred To Ways and Means

Mississippi State Sources


Bill Comments

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