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ID S1039
Bill
Status
1/21/2011
Primary Sponsor
Leslie Bock
Click for details
AI Summary
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All income tax deductions and credits automatically expire on January 1, 2013, unless specifically extended by statute.
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Extended income tax deductions or credits expire 5 years from the extension date and may be further extended for no more than 5 years at a time.
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New income tax deductions or credits enacted after July 1, 2011, expire 5 years after their effective date unless extended by statute.
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All sales and use tax exemptions automatically expire on January 1, 2013, unless specifically extended by statute.
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Extended and newly enacted sales and use tax exemptions follow the same 5-year expiration cycle with the option for further extensions of no more than 5 years.
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
1/24/2011