In the morning session of the House, three bills on third reading Senate Bill 622, Senate Bill 680 and Senate Bill 699 were passed by the House with amendments and communicated back to the Senate. Senate Bill 680 would make a gradual reduction in the corporate net income tax from 8.75 percent to 6.5 percent over the next five years effective January 1, 2009. This bill would completely eliminate the tax beginning January 1, 2015.
The House received 11 messages from the Senate. The House concurred in amendment for nine of the bills. The House refused to concur in amendment for House Bill 4557 and Senate Bill 571 and will meet with the Senate in conference committees.
The House will recess until 3:00 p.m. today.
