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2025R: HB1538
TO AMEND THE LAW CONCERNING THE NET OPERATING LOSS INCOME TAX DEDUCTION; AND TO INCREASE THE CARRY-FORWARD PERIOD FOR THE NET OPERATING LOSS INCOME TAX DEDUCTION.
Latest action: Died in House Committee at Sine Die adjournment.
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| Sponsor | Role |
|---|---|
| Ray | lead |
| When | Chamber | Action |
|---|---|---|
| Feb 20, 2025, 10:24 a.m. CT | House | Filed |
| Feb 20, 2025, 4:28 p.m. CT | House | Read the first time, rules suspended, read the second time and referred to the Committee on REVENUE & TAXATION- HOUSE |
| May 5, 2025, 10:37 a.m. CT | House | Died in House Committee at Sine Die adjournment. |
Meetings
| When | Meeting | Video |
|---|---|---|
| Mar 18, 2025, 10:00 a.m. CT | House Revenue and Taxation Committee · Committee Room 151 | Video Add to Google Calendar Add to Apple Calendar |
No amendments stored.
Fiscal impact
DFA1 · Mar 3, 2025
Fiscal Impact Statement
Bill: HB1538
Bill Subtitle: TO AMEND THE LAW CONCERNING THE NET OPERATING LOSS INCOME TAX
DEDUCTION; AND TO INCREASE THE CARRY-FORWARD PERIOD FOR THE NET OPERATING
LOSS INCOME TAX DEDUCTION.
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Sponsor:
Rep. Ray
Basic Change:
HB1538 amends the income tax deduction for net operating losses to extend the loss carry-forward
period. HB1538 extends the number of years that net operating losses may carry-forward from 10
years to 20 years for steel manufacturers, from 15 years to 20 years for qualified medical companies,
and from 10 years to 20 years for all other taxpayers.
HB1538 is effective for tax years beginning on or after January 1, 2025.
Fiscal Impact:
FY2037 - $13M General Revenue Reduction
FY2038 - $26M General Revenue Reduction
FY2039 - $37M General Revenue Reduction
FY2040 - $48M General Revenue Reduction
FY2041 - $59M General Revenue Reduction
FY2042 - $68M General Revenue Reduction
FY2043 - $77M General Revenue Reduction
FY2044 - $85M General Revenue Reduction
FY2045 - $93M General Revenue Reduction
FY2046 - $100M Gener
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Last checked Nov 12, 2026, 3:41 p.m. CT.
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