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LC 2155

Generally revise tax laws

2025 Regular Session

LC 2155 sought a broad overhaul of the state's tax code, but the draft died in process with no provisions released, meaning no changes were enacted.

(LC) Draft Died in Process
#taxation(generally)
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Bill Summary · LC 2155

Summary of LC 2155 — Generally revise tax laws

Overview

  • Bill number: LC 2155
  • Title: Generally revise tax laws
  • Subject: Taxation (Generally)
  • Classification: bill
  • Status: Draft died in process (LC); did not advance in the legislative process
  • Introduced: November 29, 2024

LC 2155 appears to be a broad, substantive effort to overhaul the state's tax code. The available information does not include the bill’s text, so specific provisions or exact changes are not disclosed here.

Purpose and intent

  • Described by its title as a “generally revise tax laws,” the bill signals an aim to reform the tax system in a comprehensive manner.
  • Without the text, the precise goals (e.g., simplification, rate changes, expansion or consolidation of credits/deductions, administrative reforms) cannot be determined. The intent is consistent with a broad tax reform or modernization package.

Scope and potential changes (not specified in text)

Because the actual provisions are not provided, the following areas are commonly addressed in comprehensive tax-revision efforts and could be relevant if included:
- Income tax: brackets, rates, deductions, credits, and exemptions.
- Corporate and business taxes: bases, rates, stability, and credits.
- Sales and use taxes: base definitions, exemptions, compliance mechanisms.
- Property taxes or local taxes: assessment rules, relief programs.
- Administrative provisions: filing processes, enforcement, penalties, audit procedures, and conformity to federal standards.
- Revenue-neutral or revenue-impact considerations: adjustments intended to preserve or alter overall revenue.

Note: These categories are potential areas of change in a broad tax revision, but there is no published text confirming any specific provisions for LC 2155.

Affected parties

  • Individuals and households (potential changes to personal income tax, credits, and deductions).
  • Businesses and employers (corporate/business tax provisions, compliance costs).
  • Tax-collecting agencies and local governments (administrative changes, revenue impacts, coordination with state/local tax systems).
  • Taxpayers seeking credits, exemptions, or relief programs (changes could expand or reduce access).

Procedural history and timeline

  • Nov 29, 2024: Drafter assigned; draft placed on hold.
  • Nov 29, 2024: Draft on Hold (status noted on the same day).
  • May 22, 2025: Draft died in process (no further move toward enactment).

Status and next steps

  • The bill did not advance beyond the draft stage and is recorded as dying in process.
  • For those tracking tax policy, future sessions or new bills may reintroduce similar reform efforts. If interest persists, monitor for new LC numbers or revised proposals that propose concrete tax-law changes and provisions.

Notes for readers

  • This summary captures the available metadata and the high-level implications of a broad tax-revision bill. The absence of the bill’s text means no specific provisions can be detailed here. For precise understanding, the full bill draft would be required.

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

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