Generally revise tax laws

2025 Regular Session

LC 985 would broadly revise state tax laws, but with no text available and the draft died in process; no changes enacted yet.

(LC) Draft Died in Process

#taxation

LC 985 — Generally revise tax laws (Summary)

Overview

LC 985 is a draft bill titled “Generally revise tax laws.” The intent, as implied by the title, would be to undertake broad revisions to the state’s tax statutes. No specific provisions are provided in the information given, so a detailed analysis of changes is not possible at this time.

Known Details

Bill number: LC 985

Title: Generally revise tax laws

Subject: Taxation (Generally)

Classification: bill

Introduced: November 11, 2024

Drafter/Assignment: Drafter assigned on November 11, 2024

Status and timeline:

2024-11-11: Drafter Assigned
2025-02-11: Draft On Hold
2025-05-23: Draft Died in Process

Provisions (What is available)

The text or specifics of the bill’s provisions are not provided in the prompt. As a result, there is no section-by-section summary of changes to tax law, no identified tax-rate changes, credits, exemptions, administration provisions, or enforcement mechanisms to analyze.

Affected Parties (Likely, given the topic)

While specifics are not available, a general tax-law revision would typically affect:

Individual and business taxpayers (income, sales/use taxes, credits, deductions)
Tax preparation and filing processes
The state tax collection and administration agency
Potentially local government interactions if fiscal provisions mirror state tax changes

Procedural History and Significance

The bill was introduced in November 2024 and assigned to a drafter the same day.

The draft was placed On Hold in February 2025 and subsequently listed as Died in Process in May 2025.

“Died in Process” indicates the draft did not advance through the legislative process in its current form. It could be reintroduced, revised, or shelved, depending on future legislative priorities.

Potential Impacts (High-level)

If enacted, a broad tax-reform bill could affect revenue projections, taxpayer compliance costs, and the policy direction of taxation (e.g., rates, bases, credits, exemptions, and administration). However, without the text, these impacts remain speculative.

Next Steps for Readers

For a precise understanding, obtain the actual bill text and any fiscal notes or analyses from official legislative resources.

Monitor for reintroduction or new versions, which might carry LC numbers and updated provisions.

If you’re evaluating impact, consider scenarios based on common elements in general tax-revision bills (rates, bases, credits, and administrative changes).