FORTY-SIXTH LEGISLATURE

SECOND SESSION, 2004

February 11, 2004

Mr. Speaker:

    Your TAXATION AND REVENUE COMMITTEE, to whom has been referred

HOUSE BILL 194

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

     1. On page 4, line 14, after "credit" insert "and each supplemental tax credit".

     2. On page 5, line 2, strike the first occurrence of "the" and insert in lieu thereof "a".

     3. On page 5, line 2, after "credit" insert "or supplemental tax credit".

     4. On page 5, line 4, after "credit" insert "or supplemental tax credit".

     5. On page 5, line 6, after "credit" insert "or supplemental tax credit".

     6. On page 5, line 11, after the ending bracket strike the remainder of the line, strike lines 12 and 13 in their entirety, strike line 14 through "but" and insert in lieu thereof:

     "The total tax credits and supplemental tax credits taken pursuant to the Laboratory Partnership with Small Business Tax Credit Act".

     7. On page 5, line 19, after "A." strike the remainder of the line and insert in lieu thereof "If a national laboratory provides small business assistance and has claimed a tax credit".

     8. On page 5, line 21, after "Act" insert "in an amount not to exceed one million eight hundred thousand dollars ($1,800,000)".

     9. On page 5, line 21, after the second occurrence of "a" insert "supplemental".

     10. On page 5, line 24, strike "B" and insert in lieu thereof "C". 

     11. On page 5, line 24, after the period insert "The supplemental tax credit shall only be claimed by a national laboratory that makes qualified expenditures in providing small business assistance.".

     12. On page 6, line 12, after the period insert:

     "The national laboratory shall use a supplemental tax credit pursuant to this section in the year that the amount calculated is approved by the department.".

     13. On page 8, line 14, strike "credit" and insert in lieu thereof "credits and supplemental tax credits".

     14. On page 8, line 20, strike "the" and insert in lieu thereof "a".

     15. On page 8, line 20, after "credit" insert "or supplemental tax credit".