SPB 7048: Internal Revenue Code
PROPOSED BILL by Finance and Tax
Internal Revenue Code; Revising the date of adoption of the Internal Revenue Code and other federal income tax statutes for purposes of the state corporate income tax; prohibiting retroactivity of certain Internal Revenue Code amendments; specifying that a limitation, a deduction, an expense, or an amortization may only affect the computation of certain taxable income beginning after a specified date; requiring taxpayers to add to and deduct from taxable income in a specified manner; revising adjustments taxpayers must make to adjusted federal income with respect to certain tax benefits, etc.
Effective Date: Upon becoming a law
Last Action: 2/20/2026 Senate - On Committee agenda-- Finance and Tax, 02/25/26, 1:30 pm, 301 Senate Building
Bill Text: Web Page | PDF
Last Action: 2/20/2026 Senate - On Committee agenda-- Finance and Tax, 02/25/26, 1:30 pm, 301 Senate Building
Bill Text: Web Page | PDF
Bill History
| Date | Chamber | Action |
|---|---|---|
| 2/20/2026 | Senate |
• Submitted for consideration by Finance and Tax • On Committee agenda-- Finance and Tax, 02/25/26, 1:30 pm, 301 Senate Building |