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House substitutes HB 78 after extended debate over corporate tax phaseout and apportionment
Summary
After extended floor debate, the House substituted HB 78 to adopt a revised apportionment formula (double-weighted sales factor) while deferring a proposed five-year corporate tax phaseout; the substitute passed 39–29 and was circled for later consideration amid fiscal-note concerns.
House Bill 78, addressing corporate franchise and individual income tax amendments, drew extended debate on tax apportionment, a proposed phaseout of the corporate income tax and potential impacts on school funding.
Representative Harper described a two-part approach in the original bill: adopting a double‑weighted sales factor for apportionment and phasing out the corporate income tax over five…
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