Providing an additional personal exemption for head of household tax filers and increasing the personal exemption for certain disabled veterans for purposes of income tax, modifying the definition of household income related to increased property tax homestead refund claims, providing for the apportionment of business income by the single sales factor and the apportionment of financial institution income by the receipts factor, providing for the apportionment pursuant to the three-factor test of a manufacturer who sells alcoholic liquor, requiring the use of single sales factor pursuant to the multistate tax compact, establishing deductions from income when using the single sales factor and receipts factor, providing for the decrease in corporate income tax rates, determining when sales other than tangible personal property are made in the state, excluding sales of a unitary business group of electric and natural gas public utilities, providing property tax exemptions for certain personal property including watercraft, marine equipment, off-road vehicles, motorized bicycles and certain trailers.

Motion to suspend Joint Rule 4 (k) to allow consideration adopted

Conference Committee Report was adopted; Yea 118, Nay 4, Absent 3

Reengrossed on Monday, April 14, 2025

Enrolled and presented to Governor on Friday, April 18, 2025

Approved by Governor on Thursday, April 24, 2025

Conference committee report now available

Motion to suspend Joint Rule 4 (k) to allow consideration adopted

Conference Committee Report was adopted; Yea 40, Nay 0

Nonconcurred with amendments; Conference Committee requested; appointed Rep. Adam Smith, Rep. Carl Turner and Rep. Tom Sawyer

Motion to accede adopted; Sen. Caryn Tyson, Sen. Virgil Peck and Sen. Ethan Corson appointed as conferees

Committee of the Whole - Committee Report be adopted

Committee of the Whole - Be passed as amended

Emergency Final Action - Passed as amended; Yea 40, Nay 0

Committee Report recommending bill be passed as amended by Senate Committee on Assessment and Taxation

Engrossed on Tuesday, February 25, 2025

Referred to Senate Committee on Assessment and Taxation

Final Action - Passed as amended; Yea 117, Nay 0, Absent 8

Received and Introduced

Committee of the Whole - Committee Report be adopted

Committee of the Whole - Be passed as amended

Committee Report recommending bill be passed as amended by House Committee on Taxation

Introduced

Referred to House Committee on Taxation