SB 1125 Income tax returns of affiliated corporations.
Walter A. Stosch | all patrons    ...    notes
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Summary as passed: (all summaries)
Income tax returns of affiliated corporations. Provides that a group of affiliated corporations may change from filing (i) a consolidated return to separate returns or (ii) separate or combined returns to a consolidated return, provided that the affiliated group has filed on the same basis for at least the preceding 20 years. Permission shall be granted if (i) for the taxable year immediately preceding the taxable year of such change, there would have been no decrease in tax liability computed under the proposed change and (ii) the affiliated group or corporations agrees to file returns computing its income tax liability under both the new filing method and the former method and to pay the greater of the 2 amounts for the taxable year in which such change is effective and for the immediately succeeding taxable year.

Full text:
01/08/03  Senate: Presented & ordered printed, prefiled 01/08/03 036722540  pdf | impact statement
01/28/03  Senate: Committee substitute printed 039071540-S1  pdf | impact statement
02/24/03  Senate: Bill text as passed Senate and House (SB1125ER)  pdf | impact statement
03/24/03  Governor: Acts of Assembly Chapter text (CHAP0166)  pdf

Status:
01/08/03  Senate: Presented & ordered printed, prefiled 01/08/03 036722540
01/08/03  Senate: Referred to Committee on Finance
01/28/03  Senate: Reported from Finance with substitute (13-Y 0-N)
01/28/03  Senate: Committee substitute printed 039071540-S1
01/29/03  Senate: Constitutional reading dispensed (40-Y 0-N)
01/29/03  Senate: VOTE: CONST. RDG. DISPENSED R (40-Y 0-N)
01/30/03  Senate: Read second time
01/30/03  Senate: Reading of substitute waived
01/30/03  Senate: Committee substitute agreed to 039071540-S1
01/30/03  Senate: Engrossed by Senate - committee substitute 039071540-S1
01/31/03  Senate: Read third time and passed Senate (40-Y 0-N)
01/31/03  Senate: VOTE: PASSAGE R (40-Y 0-N)
01/31/03  Senate: Communicated to House
02/04/03  House: Placed on Calendar
02/04/03  House: Read first time
02/04/03  House: Referred to Committee on Finance
02/10/03  House: Reported from Finance (22-Y 0-N)
02/11/03  House: Read second time
02/12/03  House: Read third time
02/12/03  House: Passed House BLOCK VOTE (99-Y 0-N)
02/12/03  House: VOTE: BLOCK VOTE PASSAGE (99-Y 0-N)
02/24/03  Senate: Bill text as passed Senate and House (SB1125ER)
02/26/03  House: Enrolled
02/26/03  House: Signed by Speaker
02/27/03  Senate: Signed by President
03/16/03  Governor: Approved by Governor-Chapter 166 (effective 7/1/03)
03/24/03  Governor: Acts of Assembly Chapter text (CHAP0166)