SB 58-FN-A (2003): relative to the net operating loss under the business profits tax.

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SB 58-FN-A (2003)

relative to the net operating loss under the business profits tax.

Status: Signed into law
Term: 2003-2004
House committee: Ways and Means
Senate committee: Ways and Means
Subject: Taxes - State
Chapter law: 203

The Story

It was introduced on January 9, 2003 and referred to the Senate Ways and Means committee. The committee held a public hearing on February 5, 2003. The committee recommended that the Senate pass it with changes (amendment 0927). The committee's amendment (0927) was adopted on a voice vote on March 27, 2003, changing the text of the bill. On March 27, 2003 the Senate voted to pass it with changes on a voice vote, then referred it on to the Senate Finance committee. The committee recommended that the Senate kill it. On April 10, 2003 the Senate rejected a motion to kill it on a voice vote. A floor amendment (1201), offered by Sen. Foster, was adopted on a roll call 23–0 on April 10, 2003, changing the text of the bill. On April 10, 2003 the Senate voted to pass it with changes on a voice vote and ordered it to a third reading. On April 10, 2003 the Senate voted to pass it. It crossed to the House on April 10, 2003 and was referred to the House Ways and Means committee. The committee held a public hearing on April 24, 2003. The majority of the committee recommended that the House pass it with changes unanimously, 15–0, and the report was placed on the consent calendar. On May 15, 2003 the House voted to pass it with changes, then referred it on to the House Finance committee. The committee held a public hearing on May 20, 2003. The committee held a work session on May 21, 2003. The majority of the committee recommended that the House pass it unanimously, 19–0, and the report was placed on the consent calendar. On June 5, 2003 the House voted to pass it. On June 5, 2003 the Senate adopted “Sen. D'Allesandro Concur with House Amendment” on a voice vote. The bill was enrolled on June 24, 2003 — the final check of the text before it goes to the governor. The governor signed it on June 30, 2003, making it Chapter 203 of the session laws. It took effect on July 1, 2005.

Hearings and Sessions

February 5, 2003, 9:15 AM: hearing, Senate Ways and Means, SH 103
April 24, 2003, 10:45 AM: hearing, House Ways and Means, RM202,LOB
May 20, 2003, 10:30 AM: hearing, House Ways and Means, RMs210-211,LOB
May 21, 2003, 1:00 PM: subcommittee work session, House Ways and Means, RM212,LOB <Rep Weyler>

Votes

March 27, 2003, Senate: Ought to Pass with Amendment — voice vote, passed
April 10, 2003, Senate: Inexpedient to Legislate — voice vote, failed
April 10, 2003, Senate: Adoption of the floor amendment (1201s) Sen. Barnes/Sen. Sapareto — yeas 23, nays 0, passed
April 10, 2003, Senate: Ought to Pass with Amendment — voice vote, passed
June 5, 2003, Senate: Sen. D'Allesandro Concur with House Amendment — voice vote, passed

The Docket

January 9, 2003: Introduced and Ref. to Ways & Means
February 5, 2003: Hearing; February 5, 2003, Room 103, SH, 9:15 a.m.; SC6
March 21, 2003: Committee Report; Ought to Pass with Amendment{0927}, [03/27/03]; SC15, Pg.13-14
March 27, 2003: Committee Amendment{0927}, AA, VV
March 27, 2003: Ought to Pass with Amendment{0927}, MA, VV; Refer to Finance [Rule 26]
April 4, 2003: Committee Report; Inexpedient to Legislate, [04/10/03]; SC17
April 10, 2003: Inexpedient to Legislate, MF, VV
April 10, 2003: Sen. Below Moved Ought to Pass
April 10, 2003: Sen. Foster Floor Amendment{1201}, RC 23Y- 0N, AA
April 10, 2003: Ought to Pass with Amendment{1201}, MA, VV; OT3rdg
April 10, 2003: Passed by 3rd Reading Resolution
April 10, 2003: Introduced and ref to Ways & Means
April 14, 2003: Report due on 5/8/2003 <f>
April 24, 2003: Hearing Apr 24 10:45 RM202,LOB
May 7, 2003: Maj Report OTP/AM for May 15 (Vote 15-0;CC)
May 7, 2003: Prop Comm Am{1520}
May 15, 2003: Passed with Am and ref to Finance
May 20, 2003: Fin Hearing May 20 10:30 RMs210-211,LOB
May 21, 2003: Fin Div II Subcom Work & Exec Session May 21 1:00 RM212,LOB <Rep Weyler>
May 28, 2003: Fin Maj Report OTP for June 5 (Vote 19-0;CC)
June 5, 2003: Passed
June 5, 2003: Sen. D'Allesandro Concur with House Amendment, MA, VV
June 24, 2003: Enrolled
June 24, 2003: Enrolled
June 30, 2003: Signed by the Governor on 6/30/2003 Eff- 7/1/2005 Chap- 0203

Laws It Would Change

RSA 77-A:4