BUSINESS LAW

CCS/HCS/SCS/SB 498 - Under current law, cities are prohibited from passing laws that restrict certain 501(c)(3) organizations from operating retail businesses that sell donated items. This act expands the law to include 501(c )(19) organizations. This act contains an emergency clause. (Signed 5/30/12)

HCS/HB 1661 - Specifies that the current state income tax deduction for a small business that creates new jobs applies to a sale proprietorship, partnership, S-corporation, C-corporation, limited liability company, limited liability partnership, or other business entity that has fewer than fifty employees. When the small business is a type of business entity where taxation is passed through to the partners or shareholders, this deduction may be allocated to those individuals according to their agreement. (Signed 6/27/12)