BILL · 2021–22 SESSION

SB 5445: Public funds interest/B&O

Creating a business and occupation tax deduction for interest earned on public funds.

Summary

  • Creates a business and occupation tax deduction for financial institutions that qualify as public depositories on investment and interest income derived from the public funds held in deposit.

From the Senate Bill Report (SB 5445), written by the Legislature's nonpartisan staff. Read the full report ↗

Did not pass Did not pass · died in committee
  1. IntroducedFeb 10, 2021
  2. Out of committeestopped here
  3. Passed Senate
  4. Passed House
  5. Governor
  6. Law
Prime sponsor
Jeff Holy (R-6)
Introduced
February 10, 2021 in the Senate
Last action
January 10, 2022
Budget
Has a fiscal note

AN ACT Relating to creating a business and occupation tax deduction for interest earned on public funds;

Sponsors

Prime sponsor: Jeff Holy (R-6)

1 co-sponsor (1 Democrat, 0 Republicans)

Votes

No recorded floor votes. This measure never reached a floor vote.

History

  1. By resolution, reintroduced and retained in present status.
  2. First reading, referred to Business, Financial Services & Trade.

SB 5445 in other sessions

Bill numbers restart every two years, so the same number is a different bill in each session.

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