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LC 998

Generally revise income tax laws

2025 Regular Session

LC 998 would broadly overhaul state income tax laws, but the draft died in process, leaving taxpayers awaiting any future, unspecified changes.

(LC) Draft Died in Process
#revenue #state #taxation--individualincome #taxation
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Bill Summary · LC 998

Summary: LC 998 — Generally revise income tax laws

Overview

LC 998 is a bill titled “Generally revise income tax laws.” The bill’s status indicates it is an (LC) draft that ultimately died in process. It was introduced on November 11, 2024. The available information does not include the bill text or specific provisions.

Purpose and Intent

  • The bill is described as a broad revision of the state’s income tax laws.
  • Specific objectives, changes, or policy goals are not provided in the information available. As such, the exact intent beyond a general overhaul cannot be confirmed from the provided data.

Key Provisions

  • Text of the bill is not included in the summary you supplied. Therefore, key provisions, changes to tax rates or brackets, deductions/credits, exemptions, conformity with federal law, administration, or enforcement details are not specified here.
  • If the full draft text becomes available, it would be essential to identify:
    • Changes to tax rates, brackets, and due dates
    • Modifications to deductions, exemptions, and credits (e.g., standard vs. itemized, family/child credits, education or healthcare-related credits)
    • Administrative provisions (filing requirements, payment timing, penalties)
    • Transitional rules and effective dates
    • Conformity or decoupling from federal tax code

Affected Parties

  • Primary: individuals subject to state income tax.
  • Potentially affected: resident and nonresident individuals, part-year residents, and any taxpayers affected by changes to deductions, credits, or tax rates.
  • Tax administration and enforcement agencies would implement and oversee any changes.

Procedural History and Timeline

  • 2024-11-11: (LC) Drafter Assigned
  • 2024-12-16: (LC) Draft On Hold
  • 2025-02-17: (LC) Draft Taken Off Hold
  • 2025-02-17: (LC) Draft Taken Off Hold
  • 2025-03-21: (LC) Draft On Hold
  • 2025-05-23: (LC) Draft Died in Process

Notes:
- “Draft Died in Process” indicates the bill did not advance toward a formal floor vote or enactment.
- The repeated on-hold statuses suggest the draft underwent multiple pauses or revisions before cancellation.

Potential Impacts (when provisions are known)

  • If enacted, any broad revision of income tax laws could affect individual tax burdens, filing complexity, compliance costs, and state revenue.
  • Possible transitional rules would be needed to avoid abrupt tax changes for the current tax year.

Next Steps

  • Obtain the full text of LC 998 from the official legislative database to review exact provisions.
  • Track any future reintroduction or new drafts, as bills with similar aims often reappear in subsequent sessions.
  • If you represent a stakeholder group, consider engaging with sponsors or committee staff for explanation of intended reforms and timelines.

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

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