Senate BillIntroducedRevenue and Taxation
SB 1113: Corporate tax: exclusions: qualifying shipping activities.
What SB 1113 does, verified June 15, 2026
The bill provides an exclusion from gross income for qualifying shipping activities of electing corporations or members of electing groups. This exclusion is in effect for taxable years beginning on or after January 1, 2026. The exclusion allows corporations to determine their corporate tax burden for specified international shipping activities using a per-ton rate. The bill also includes special rules for depreciation and basis of qualifying vessels, and provides for the nonrecognition of gain from the disposition of a qualifying vessel if a replacement qualifying vessel is acquired.
Bill journey
1IntroducedCurrent
2In CommitteePending
3First Chamber FloorPending
4Second ChamberPending
5GovernorPending
6ChapteredPending
Last action: May 14 hearing: Held in committee and under submission. (2026-05-14)Alert me
Author and sponsors
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| May. 14, 2026 | May 14 hearing: Held in committee and under submission. |
| May. 12, 2026 | Set for hearing May 14. |
| May. 11, 2026 | May 11 hearing: Placed on APPR. suspense file. |
| May. 07, 2026 | Set for hearing May 11. |
| May. 06, 2026 | From committee: Do pass and re-refer to Com. on APPR. (Ayes 5. Noes 0. Page 4154.) (May 6). Re-referred to Com. on APPR. |