Income tax, state; an exclusion for Paycheck Protection Plan loan forgiveness.
Summary
Income tax exclusion for Paycheck ProtectionPlan loan forgiveness; deductibility. Establishes an income taxexclusion for forgiveness of indebtedness on a loan received underthe Coronavirus Aid, Relief, and Economic Security (CARES) Act throughthe Paycheck Protection Program. The exclusion would be availablestarting in taxable year 2020. No taxpayer shall be denied an otherwiseallowable deduction by reason of the exclusion.
Bill status
in committee
1 of 4 stages cleared
Introduction
Jan 2021
Committee Review
Floor Vote
Governor
Introduced Jan 13, 2021
Last action Feb 3, 2021
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
4
Key actions
0
Committee
1
Jan 13, 2021
Committee
Referred to Committee on Finance and Appropriations
upper
Jan 13, 2021
Introduced
Prefiled and ordered printed; offered 01/13/21 21102748D
upper
1 primary · 0 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
CP
Chap Petersen
DDemocratic
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