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Bill

LC 999

Generally revise income tax laws

2025 Regular Session

LC 999 seeks a broad rewrite of state income tax laws, but with no text available and the draft having died, its precise effects on individuals or revenue remain unknown.

(LC) Draft Died in Process
#taxation(generally) #taxation--individualincome
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Bill Summary · LC 999

Summary of LC 999 — Generally revise income tax laws

Bill at a glance

  • Bill Number: LC 999
  • Title: Generally revise income tax laws
  • Subject: Taxation (Generally), Taxation—Individual Income
  • Introduced: November 11, 2024
  • Status: Draft Died in Process (as of May 23, 2025)
  • Classification: Bill

Purpose and intent

  • The bill title indicates a broad aim to generally revise the state’s income tax laws. The provided information does not include the bill’s actual text or specific policy objectives. Therefore, the precise goals, targeted changes, and intended outcomes cannot be confirmed from the available summary.

Key provisions (not specified in the provided text)

  • No bill text or section-by-section provisions are provided. As a result, there are no enumerated provisions to analyze.
  • In general, a bill with the title “Generally revise income tax laws” would typically address areas such as:
    • Tax rate structure or bracket adjustments
    • Changes to standard deduction, personal exemptions, or itemized deduction rules
    • Modifications to credits (e.g., earned income credit, child/dependent credits, education credits)
    • Treatment of retirement income, capital gains, or other income types
    • Compliance, administration, and enforcement provisions
    • Effective dates and transition rules
    • Interaction with other state tax provisions and potential impact on local revenue
  • The absence of specific text means the above are potential categories only, not actual provisions of LC 999.

Affected parties

  • If enacted, the bill would primarily affect individual income taxpayers and the administration of the income tax system. Taxpayers, tax software developers, and tax preparation professionals would need to align with any new rules, rates, deductions, or credits. Local government revenue and state fiscal planning could also be affected depending on the final provisions.

Procedural and timeline notes

  • Nov 11, 2024: Drafter assigned.
  • Dec 16, 2024: Draft On Hold.
  • May 23, 2025: Draft Died in Process.
  • “Died in Process” indicates the draft did not advance toward formal consideration or passage, given the current information.

Potential impact (high-level)

  • Without the enacted provisions, concrete impacts cannot be determined. Generally, a comprehensive income tax reform bill could alter after-tax income for individuals, change revenue projections, and affect tax compliance burdens. The ultimate fiscal and economic effects would depend on the specific provisions adopted (rates, deductions, credits, and timing).

Next steps for readers

  • To assess the bill’s actual impact, obtain the full bill text or committee analyses. Monitor any updates on its status or potential reintroduction in future sessions.

Compiled from official sources — confirm details with the bill’s official record.

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