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2023 SESSION

• | print version

HB 1402 Personal property taxes; valuation.

Introduced by: Marie E. March | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Personal property taxes; valuation. Requires, for taxable years beginning on and after January 1, 2024, that tangible personal property employed in a trade or business be valued for taxation using the federal Modified Accelerated Cost Recovery System (MACRS) of depreciation in place of the valuation methods currently in effect. The MACRS is also required to be used for machinery and tools taxes.

FULL TEXT

• 11/30/22  House: Prefiled and ordered printed; offered 01/11/23 23100145D  pdf | impact statements

HISTORY

• 11/30/22  House: Prefiled and ordered printed; offered 01/11/23 23100145D
• 11/30/22  House: Referred to Committee on Finance
• 01/19/23  House: Assigned Finance sub: Subcommittee #2
• 01/24/23  House: Subcommittee recommends laying on the table (7-Y 0-N)
• 02/07/23  House: Left in Finance