Robert Dutton
- Republican
Author
The Personal Income Tax Law and the Corporation Tax Law provide that gain or loss upon the disposition of a capital asset is determined by reference to the adjusted basis of that asset. This bill would, for taxable years beginning on or after January 1, 2012, and before January 1, 2015, provide that gross income does not include 50% of any net capital gain, as defined, from the sale or exchange of a capital asset, as defined, that is held for more than 3 years, as specified. This bill would take effect immediately as a tax levy.
No votes to display
Returned to Secretary of Senate pursuant to Joint Rule 56.
From committee with author's amendments. Read second time. Amended. Re-referred to Com. on REV. & TAX.
Placed on REV. & TAX. suspense file.
Set for hearing May 13.
To Com. on REV. & TAX.
From print. May be acted upon on or after March 28.
Introduced. Read first time. To Com. on RLS. for assignment. To print.
| Bill Text Versions | Format |
|---|---|
| SB472 | HTML |
| 02/26/09 - Introduced | |
| 05/14/09 - Amended Senate |
| Document | Format |
|---|---|
| No related documents. |
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