Bills · 2009-2010 Regular Session
federalizing the treatment of capital losses.
- Introduced, stopped here
- Passes Senate, not reached
- Passes Assembly, not reached
- Governor signs, not reached
- Law, not reached
Unfamiliar terms? Glossary
What this bill does
Plain-language analysis by the nonpartisan Legislative Reference Bureau
Under current law the maximum amount of a capital loss that may be deducted
from income each year is $500; the federal limit is $3,000.
For taxable years beginning on January 1, 2009, this bill federalizes the
treatment of capital losses by eliminating the $500 annual limit on capital loss
deductions.
Because this bill relates to an exemption from state or local taxes, it may be
referred to the Joint Survey Committee on Tax Exemptions for a report to be printed
as an appendix to the bill.
What it would cost
Fiscal estimates filed by state agencies, as official PDFs
Sponsors
Introduced by: A. Lasee (R) , Darling (R) , Kedzie (R) , Olsen (R)
24 cosponsors
A. Ott (R) , Ballweg (R) , Bies (R) , Gunderson (R) , Gundrum (R) , Honadel (R) , J. Ott (R) , Kaufert (R) , Kerkman (R) , Kestell (R) , Knodl (R) , LeMahieu (R) , Lothian (R) , Mursau (R) , Nass (R) , Nygren (R) , Petrowski (R) , Ripp (R) , Spanbauer (R) , Strachota (R) , Suder (R) , Townsend (R) , Vos (R) , Ziegelbauer (I)
Full history
- Oct 16, 2009 · Senate
Introduced by Senators Kedzie, Darling, Olsen and A. Lasee;Cosponsored by Representatives J. Ott, Petrowski, Kestell, Gunderson, A. Ott, Kaufert, Ripp, Mursau, Kerkman, LeMahieu, Townsend, Nygren, Gundrum, Honadel, Bies, Spanbauer, Nass, Ballweg, Lothian, Knodl, Ziegelbauer, Suder, Vos and Strachota
- Oct 16, 2009 · Senate
Read first time and referred to committee on Health, Health Insurance, Privacy, Property Tax Relief, and Revenue
- Oct 24, 2009 · Senate
Fiscal estimate received
- Apr 28, 2010 · Senate
Failed to pass pursuant to Senate Joint Resolution 1