H. B. 4765 was passed during the final week of the 2009 legislative session and is currently awaiting the Governor’s signature.  The Governor is expected to sign the bill.  If signed, the bill would expand the full exemption currently granted to all taxable entities with less than $300,000 in Total Revenue during the report period to all taxable entities with less than $1,000,000 in Total Revenue during the report period.  Under H. B. 4765, the exemption level is set to decrease to $600,000 for reports due after January 1, 2012.