2013 Senate Bill 516

Convert certain bank tax breaks to cash subsidies

Introduced in the Senate

Sept. 19, 2013

Introduced by Sen. Darwin Booher (R-35)

To revise details of the "franchise tax" imposed on financial institutions, including the "apportionment" of the tax to earnings generated in other states, and the application of the tax given different ownership structures.

Referred to the Committee on Finance

Nov. 14, 2013

Reported without amendment

With the recommendation that the substitute (S-1) be adopted and that the bill then pass.

Dec. 3, 2013

Substitute offered

The substitute passed by voice vote

Dec. 4, 2013

Passed in the Senate 36 to 0 (details)

Received in the House

Dec. 4, 2013

Referred to the Committee on Tax Policy

March 12, 2014

Reported without amendment

With the recommendation that the substitute (H-1) be adopted and that the bill then pass.