Authorizes an income tax deduction for capital gains
Senate Bill 46 authorizes a new income tax deduction. This deduction is specifically for capital gains realized by taxpayers. It allows individuals and entities to reduce their taxable income by the amount of these capital gains, which could lower their overall state income tax obligation.
Bill status
in committee
1 of 4 stages cleared
Introduction
Dec 2024
Committee Review
Floor Vote
Governor
Introduced Dec 1, 2024
Last action May 14, 2025
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
8
Key actions
3
Committee
3
Feb 6, 2025
Upper · Passed
Reported from S General Laws Committee
upper
Jan 29, 2025
Upper · Passed
Voted Do Pass S General Laws Committee
upper
Jan 21, 2025
Upper · Passed
Hearing Conducted S General Laws Committee
upper
Dec 1, 2024
Introduced
Prefiled
upper
1 primary · 1 co-sponsor
Sponsors
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