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CS/SB 1642: Tax Exemptions

GENERAL BILL by Commerce and Tourism ; Gruters

Tax Exemptions; Revising the affordable housing property exemption to exempt from ad valorem taxation, rather than provide a discount to, certain multifamily projects after a certain timeframe; providing a sales tax exemption for certain aircraft equipment used as part of certain governmental contracts; providing a credit against the corporate income tax, the sales and use tax, or a stated combination of the two taxes to a qualifying business that establishes a qualifying project for the creation of intellectual property which meets certain capital investment criteria, etc.

Effective Date: Except as otherwise expressly provided in this act, this act shall take effect upon becoming a law
Last Action: 3/14/2020 Senate - Died in Finance and Tax
Bill Text: Web Page | PDF
Senate Committee References:
  1. Commerce and Tourism (CM)
  2. Finance and Tax (FT)
  3. Appropriations (AP)

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  • Bill History

    Date Chamber Action
    1/9/2020 Senate • Filed
    1/17/2020 Senate • Referred to Commerce and Tourism; Finance and Tax; Appropriations -SJ 161
    1/22/2020 Senate • Introduced -SJ 161
    1/30/2020 Senate • On Committee agenda-- Commerce and Tourism, 02/04/20, 9:00 am, 110 Senate Building
    2/4/2020 Senate • CS by Commerce and Tourism; YEAS 4 NAYS 1 -SJ 240
    2/5/2020 Senate • Pending reference review under Rule 4.7(2) - (Committee Substitute)
    2/6/2020 Senate • CS by Commerce and Tourism read 1st time -SJ 250
    2/10/2020 Senate • Now in Finance and Tax
    3/14/2020 Senate • Indefinitely postponed and withdrawn from consideration
    • Died in Finance and Tax

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  • CS/SB 1642, Committee Substitute 1 (Current Bill Version) Posted 2/5/2020 at 3:50 PM

    Bill Text:   Web Page | PDF
    Analyses:   None

    Related Bills (1)

    Bill Number Subject Filed By Relationship Last Action and Location Track Bills
    S 1268 Capital Investment Tax Credit Gruters Compare Last Action: 3/14/2020 S Died in Innovation, Industry, and Technology

    Citations - Statutes (4)

    Citation Catchline Location in Bill Location In Bill Help
    196.1978 Affordable housing property exemption. Page 2 (pdf)
    212.08 Sales, rental, use, consumption, distribution, and storage tax; specified exemptions. Page 4 (pdf), Page 6 (pdf)
    220.191 Capital investment tax credit. Page 10 (pdf)
    288.1089 Innovation Incentive Program. Page 20 (pdf)

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  • SB 1642, Original Filed Version Posted 1/9/2020 at 2:21 PM

    Bill Text:   Web Page | PDF
    Analyses:   Commerce and Tourism (Pre-Meeting) 2/3/2020 (pdf)
    Commerce and Tourism (Post-Meeting) 2/5/2020 (pdf)

    Committee Amendments (1)

    Amendment Sponsor Filed Last Committee Action Format
    854736 - Amendment (Delete All)
    Delete everything after the enacting clause and insert:
    Commerce and Tourism
    (Gruters)
    2/3/2020
    8:39 AM
    Replaced by Committee Substitute
    2/4/2020
    Web Page
    PDF

    Committee Votes (1)

    Date Committee Result
    2/4/2020 9:00 AM Commerce and Tourism 4 Yeas - 1 Nays

    Citations - Statutes (1)

    Citation Catchline Location in Bill Location In Bill Help
    212.08 Sales, rental, use, consumption, distribution, and storage tax; specified exemptions. Page 1 (pdf), Page 3 (pdf)

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