Impact Report 7: Updates on Tax Packages, Deregulation, & More

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Impact Report 7: Updates on Tax Packages, Deregulation, & More


The FICPA Governmental Affairs team is tracking hundreds of bills this legislative session, and this week, Justin Thames has an update on the progress of some of the most important for CPAs to be aware of – including the House and Senate tax packages, deregulation, sunset review, and more.

Also in this week’s IMPACT Report:

  • Bill Tracking Updates
  • Journal of Accountancy Podcast: What’s next for potential CPA licensure changes
  • AICPA Issues Report for CIRAs – ASC 606


Justin Thames
Director of Governmental Affairs

Bill Tracking

SB474 – Deregulation of Professions and Occupations

Status: Now in Appropriations


SB126 – Sales and Use tax

Status: On Committee agenda– Finance and Tax, 02/13/20, 12:30 pm, 401 Senate Building


SB616 – Background Screening

Status: Introduced – SJ 47


HB6021 – Corporate Income taxes

Status: Introduced – HJ 258


SB740 – Real Estate

Status: Introduced- SJ 56


SB450 – Whistleblower’s Act

Status: Introduced -SJ 34


HB707 – Legislative Review of Occupational Regulations

Status: Original reference(s)- removed: Appropriations Committee. Referred to- Calendar


HB1141 – Taxation of Real Property

Status: Introduced -HJ 100


SB1140 – Public Accountancy

Status: Favorable by Commerce and Tourism; YEAS 5 NAYS 0. Now in Rules


SB1526 – Food Donation Programs

Status: Introduced -SJ 112


SB1238 – Regulatory Reform

Status: Introduced -SJ 90


HB963 – Consumer Data Privacy

Status: Introduced -HJ 83

Other Weekly News and Highlights:

Journal of Accountancy Podcast: What’s next for potential CPA licensure changes  

A new model proposed by the National Association of State Boards of Accountancy (NASBA) and the AICPA is designed with an eye on the future for newly-licensed CPAs. Carl Mayes, CPA, AICPA associate director–CPA Quality & Evolution, provides background on the project and a look ahead to 2020.  


AICPA Issues Report for CIRAs – ASC 606 

The AICPA Center for Plain English Accounting has issued a report on key aspects of the application of FASB ASC 606 to CIRAs. You can read the report here.

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