A bill for an act creating a state corporate income tax deduction for net controlled foreign corporation tested income, and including retroactive applicability provisions.

The document structure was converted from a signed transmission letter to a formal enrolled bill format, removing the Governor's signature block and adding standard certification lines.

Replaced the specific reference to 'Global Intangible Low-Taxed Income' (GILTI) with 'Net Controlled Foreign Corporation Tested Income' (NCTI) to align with recent federal tax law changes.

Updated the bill title and explanatory text to describe the creation of a deduction for NCTI rather than GILTI.

Added formal letterhead, signature blocks, and certification text typical of a signed enrolled bill, replacing the introductory committee markup.

Removed introductory text indicating the bill was introduced by the Committee on Ways and Means and successor bill references.