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CS/CS/SB 576: Corporate Income Tax

GENERAL BILL by Appropriations ; Finance and Tax ; Perry ; (CO-INTRODUCERS) Flores ; Stargel

Corporate Income Tax; Adopting the Internal Revenue Code in effect on January 1, 2019; providing for refunds of certain corporate income tax receipts in a certain fiscal year; providing for the subtraction of global intangible low-taxed income from taxable income for the purpose of determining adjusted federal income; requiring taxpayers filing returns during a certain timeframe to submit specified information to the Department of Revenue by certain means, etc. APPROPRIATION: $120,000

Effective Date: Upon becoming a law
Last Action: 5/1/2019 Senate - Laid on Table, companion bill(s) passed, see HB 7127 (Ch. 2019-168) -SJ 653
Bill Text: Web Page | PDF
Senate Committee References:
  1. Finance and Tax (FT)
  2. Appropriations (AP)

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  • Bill History

    Date Chamber Action
    1/29/2019 Senate • Filed
    2/8/2019 Senate • Referred to Finance and Tax; Appropriations -SJ 73
    3/5/2019 Senate • Introduced -SJ 73
    4/1/2019 Senate • On Committee agenda-- Finance and Tax, 04/04/19, 12:30 pm, 401 Senate Building
    4/4/2019 Senate • CS by Finance and Tax; YEAS 8 NAYS 0 -SJ 331
    4/5/2019 Senate • Pending reference review under Rule 4.7(2) - (Committee Substitute)
    • Now in Appropriations
    4/9/2019 Senate • CS by Finance and Tax read 1st time -SJ 334
    4/15/2019 Senate • On Committee agenda-- Appropriations, 04/18/19, 9:00 am, 412 Knott Building
    4/18/2019 Senate • CS/CS by- Appropriations; YEAS 18 NAYS 0 -SJ 379
    4/22/2019 Senate • Pending reference review -under Rule 4.7(2) - (Committee Substitute)
    • CS/CS by Appropriations read 1st time -SJ 382
    • Placed on Calendar, on 2nd reading
    4/29/2019 Senate • Placed on Special Order Calendar, 05/01/19 -SJ 765
    5/1/2019 Senate • Read 2nd time -SJ 653
    • Substituted HB 7127 -SJ 653
    • Laid on Table, companion bill(s) passed, see HB 7127 (Ch. 2019-168) -SJ 653

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  • CS/CS/SB 576, Committee Substitute 2 (Current Bill Version) Posted 4/22/2019 at 1:54 PM

    Bill Text:   Web Page | PDF
    Analyses:   None

    Related Bills (1)

    Bill Number Subject Filed By Relationship Last Action and Location Track Bills
    H 7127 (er) Corporate Income Tax Ways and Means Committee Similar Last Action: 7/1/2019 Chapter No. 2019-168

    Citations - Statutes (4)

    Citation Catchline Location in Bill Location In Bill Help
    220.03 Definitions. Page 2 (pdf)
    220.1105 Tax imposed; automatic refunds and downward adjustments to tax rates. Page 3 (pdf)
    220.13 “Adjusted federal income” defined. Page 5 (pdf)
    220.27 Page 8 (pdf)

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  • CS/SB 576, Committee Substitute 1 Posted 4/5/2019 at 8:53 AM

    Bill Text:   Web Page | PDF
    Analyses:   Appropriations (Pre-Meeting) 4/17/2019 (pdf)
    Appropriations (Post-Meeting) 4/22/2019 (pdf)

    Related Bills (2)

    Bill Number Subject Filed By Relationship Last Action and Location Track Bills
    H 1377 Taxation Mercado Compare Last Action: 5/3/2019 H Died in Ways and Means Committee, companion bill(s) passed, see CS/HB 7123 (Ch. 2019-42)
    H 7123 (c1) Taxation Ways and Means Committee Compare Last Action: 5/15/2019 Chapter No. 2019-42

    Committee Amendments (1)

    Amendment Sponsor Filed Last Committee Action Format
    608164 - Amendment (Delete All)
    Delete everything after the enacting clause and insert:
    Appropriations
    (Stargel)
    4/16/2019
    8:43 PM
    Replaced by Committee Substitute
    4/19/2019
    Web Page
    PDF

    Committee Votes (1)

    Date Committee Result
    4/18/2019 9:00 AM Appropriations 18 Yeas - 0 Nays

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  • SB 576, Original Filed Version Posted 1/29/2019 at 11:29 AM

    Bill Text:   Web Page | PDF
    Analyses:   Finance and Tax (Pre-Meeting) 4/2/2019 (pdf)
    Finance and Tax (Post-Meeting) 4/4/2019 (pdf)

    Committee Amendments (1)

    Amendment Sponsor Filed Last Committee Action Format
    312328 - Amendment
    Delete lines 63 - 69 and insert:
    Finance and Tax
    (Perry)
    4/3/2019
    9:47 AM
    Replaced by Committee Substitute
    4/4/2019
    Web Page
    PDF

    Committee Votes (1)

    Date Committee Result
    4/4/2019 12:30 PM Finance and Tax 8 Yeas - 0 Nays

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