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ID S1277
Bill
Status
1/22/2010
Primary Sponsor
Diane Bilyeu
Click for details
AI Summary
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All existing income tax deductions and credits automatically expire on January 1, 2012, unless extended by statute.
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Extended income tax deductions and credits expire 5 years from the extension date, with possible further extensions of up to 5 years each, unless extended by statute.
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Any new income tax deductions or credits enacted after July 1, 2010, expire 5 years after their effective date unless extended by statute.
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All existing sales and use tax exemptions automatically expire on January 1, 2012, unless extended by statute.
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New sales and use tax exemptions enacted after July 1, 2010, expire 5 years after their effective date unless extended by statute, with extended exemptions expiring 5 years from extension date.
Legislative Description
Adds to existing law to provide for the expiration of income tax credits or deductions or sales tax exemptions unless extended by statute.
INCOME TAX
Last Action
to Loc Gov
1/25/2010