February 14, 2003

Madam President:

Your CORPORATIONS AND TRANSPORTATION COMMITTEE, to whom has been referred

has had it under consideration and reports same with recommendation that it DO PASS, amended as follows:

1. On page 2, line 16, strike the closing quotation mark and between lines 16 and 17 insert the following new subsection:

"E. As used in this section, "employer" means an employer who employs thirty-five or fewer employees in the taxable year for which the credit provided in this section is claimed."".

2. On page 3, line 12, strike the closing quotation mark and between lines 12 and 13 insert the following new subsection:

"D. As used in this section, "employer" means an employer who employs thirty-five or fewer employees in the taxable year for which the credit provided in this section is claimed."".,

and thence referred to the FINANCE COMMITTEE.

Respectfully submitted,

__________________________________

Roman M. Maes, III, Chairman

Adopted_______________________ Not Adopted_______________________

(Chief Clerk) (Chief Clerk)

Date ________________________

The roll call vote was 5 For 0 Against

Yes: 5

No: 0

Excused: Aragon, Ingle, Robinson, Sanchez, B.

Absent: None

S0335CT1 .145469.1