2021 Senate Bill 195

Revise state business tax detail

Introduced in the Senate

March 2, 2021

Introduced by Sen. Aric Nesbitt (R-26)

To revise the treatment of “federal business interest expense limitations” in the state’s corporate income tax, and other details of this law.

Referred to the Committee on Finance

Feb. 17, 2022

Reported without amendment

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

March 3, 2022

Passed in the Senate 23 to 14 (details)

Received in the House

March 3, 2022

Referred to the Committee on Tax Policy

March 23, 2022

Reported without amendment

Without amendment and with the recommendation that the bill pass.

Dec. 7, 2022

Substitute offered by Rep. Matt Hall (R-63)

To replace the previous version of the bill with one that revises details but does not change the substance as previously described.

The substitute passed by voice vote

Passed in the House 63 to 34 (details)

To revise the treatment of “federal business interest expense limitations” in the state’s corporate income tax, and other details of this law.

Received in the Senate

Dec. 7, 2022

Passed in the Senate 20 to 8 (details)