SB 435-FN (2022): relative to the net operating loss carryover under the business profits tax.

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“SB 435-FN (2022): relative to the net operating loss carryover under the business profits tax.” Granite Record, https://graniterecord.org/bill/2022/sb435. Accessed 24 Oct. 2026.
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BibTeX
@misc{bill-2022-sb435, title = {SB 435-FN (2022): relative to the net operating loss carryover under the business profits tax.}, howpublished = {Granite Record}, url = {https://graniterecord.org/bill/2022/sb435}, note = {Accessed 24 Oct. 2026} }

SB 435-FN (2022)

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

  • Status: Signed into law
  • Term: 2021-2022
  • House committee: Ways and Means
  • Senate committee: Ways and Means
  • Subject: Taxes - State
  • Chapter law: 241

The Story

It was introduced on January 5, 2022 and referred to the Senate Ways and Means committee. The committee held a public hearing on January 26, 2022. The committee recommended that the Senate pass it with changes (amendment 2022-0311s). On February 3, 2022 the Senate adopted “Special Order to the Next Session, Without Objection”. The committee recommended that the Senate pass it with changes (amendment 2022-0311s). On February 16, 2022 the Senate adopted “Special Order to after the Committee on Education, Without Objection”. The committee's amendment (2022-0311s) was adopted on a voice vote on February 16, 2022, changing the text of the bill. On February 16, 2022 the Senate voted to pass it with changes on a voice vote and ordered it to a third reading. It crossed to the House on March 17, 2022 and was referred to the House Ways and Means committee. The committee held a public hearing on April 5, 2022. The committee held work sessions on April 12, 2022 and April 14, 2022. The committee met in executive session on April 14, 2022 to vote on its recommendation. The majority recommended that the House pass it, and the minority recommended that the House kill it, by a vote of 21–1. The report was placed on the regular calendar. On May 5, 2022 the House voted to pass it on a voice vote. The bill was enrolled on May 26, 2022 — the final check of the text before it goes to the governor. The governor signed it on June 17, 2022, making it Chapter 241 of the session laws. It took effect on July 1, 2022.

Sponsors

Hearings and Sessions

  • January 26, 2022, 9:45 AM: hearing, Senate Ways and Means, SH 100
  • April 5, 2022, 11:30 AM: public hearing, House Ways and Means, LOB 202-204
  • April 12, 2022, 10:00 AM: full committee work session, House Ways and Means, LOB 202-204
  • April 14, 2022, 10:00 AM: full committee work session, House Ways and Means, LOB 202-204
  • April 14, 2022, 10:00 AM: executive session, House Ways and Means, LOB 202-204

Votes

  • February 16, 2022, Senate: Ought to Pass with Amendment 2022-0311s — voice vote, passed
  • May 5, 2022, House: Ought to Pass — voice vote, passed

The Docket

  • January 5, 2022: To Be Introduced 01/05/2022 and Referred to Ways and Means
  • January 26, 2022: Hearing: 01/26/2022, Room 100, SH, 09:45 am
  • February 3, 2022: Committee Report: Ought to Pass with Amendment #2022-0311s , 02/03/2022
  • February 3, 2022: Special Order to the Next Session, Without Objection, MA; 02/03/2022
  • February 16, 2022: Committee Report: Ought to Pass with Amendment #2022-0311s , 02/16/2022
  • February 16, 2022: Special Order to after the Committee on Education, Without Objection, MA; 02/16/2022
  • February 16, 2022: Committee Amendment #2022-0311s , AA, VV; 02/16/2022
  • February 16, 2022: Ought to Pass with Amendment 2022-0311s, MA, VV; OT3rdg; 02/16/2022
  • March 17, 2022: Introduced 03/17/2022 and referred to Ways and Means
  • April 5, 2022: Public Hearing: 04/05/2022 11:30 am LOB 202-204
  • April 12, 2022: Full Committee Work Session: 04/12/2022 10:00 am LOB 202-204
  • April 14, 2022: Full Committee Work Session: 04/14/2022 10:00 am LOB 202-204
  • April 14, 2022: Executive Session: 04/14/2022 10:00 am LOB 202-204
  • April 27, 2022: Majority Committee Report: Ought to Pass (Vote 21-1; RC)
  • April 27, 2022: Minority Committee Report: Inexpedient to Legislate
  • May 5, 2022: Ought to Pass : MA VV 05/05/2022
  • May 26, 2022: Enrolled Adopted, VV, (In recess 05/26/2022)
  • May 26, 2022: Enrolled (in recess of) 05/26/2022
  • June 17, 2022: Signed by the Governor on 06/17/2022; Chapter 0241; Effective 07/01/2022

Laws It Would Change

From the General Court