The 2nd Special Session of the year wrapped up yesterday after lawmakers completed all items on the Governor's call.
The 93rd General Assembly returned to the capital city on Tuesday morning at 10:00am to begin their second special session this year. Some lawmakers pushed to extend the session to consider various other matters, but their resolutions were unsuccessful and both chambers adjourned on Thursday morning after completing the items on the Governor’s call. Below is an overview of legislation passed during the three-day special session.
Income Tax Reduction
SB1 by Sen. Dismang and HB1001 by Rep. Maddox provide for income tax reductions, merging the lower and middle-income tables, creating a low-income tax credit, indexing the standard deduction to the consumer price index, and creating triggers for some rate cuts.
SB5 by Sen. Hickey and HB1002 by Rep. Shepherd transfer reclaimed or recovered fiscal year 2021 to the Restricted Reserve Fund, the General Revenue Allotment Reserve Fund and the Economic Development Quick Action Closing Fund.
SB3 by Sen. Dismang appropriates supplemental funds to the Department of Finance and Administration for any expenses associated with the American Rescue Plan Act of 2021 incurred by agencies, departments, institutions, counties and municipalities.
SB7 by Sen. Sullivan and HB1005 by Rep. Payton repeal the prohibition against pharmaceutical manufacturer discounts for insulin products.
SB4 by Sen. Dismang and HB1004 by Rep. Dalby modify the Uniform Limited Liability Company Act to clarify the applicability of the Act and related business statutes and retains limited liability status and limited liability protections to certain companies.
Tax Appeals Commission
SB2 by Sen. Dismang and HB1006 by Rep. Jett amend the law pertaining to the initial appointments to the Tax Appeals Commission and set deadlines for candidate pools to be submitted to the Governor and for commissioners to be appointed.
Tax Incentive Amendment
SB10 by Sen. Wallace and HB1007 by Rep. Jett create an income tax credit incentive of up to $11 million for an additional qualified growth project at an existing steel mill facility.
General Assembly Security Personnel
SB6 by Sen. Sample and HB1003 by Rep. Slape authorize the Senate and House of Representatives to hire and employ security personnel to be considered full-time law enforcement officers with the associated range of responsibilities and authority.
The bills were signed into law by the Governor yesterday afternoon.