FORTY-EIGHTH LEGISLATURE

FIRST SESSION, 2007

March 5, 2007

Mr. Speaker:

    Your TAXATION AND REVENUE COMMITTEE, to whom has been referred

HOUSE BILL 530

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

1. On page 3, line 4, strike "and".

     2. On page 3, between lines 4 and 5, insert the following new paragraphs:

                "(3) "aircraft manufacturer" means a business entity that in the ordinary course of business designs and builds private or commercial aircraft certified by the federal aviation administration;

                (4) "business entity" means a corporation, limited liability company, partnership, limited partnership, limited liability partnership or real estate investment trust, but does not mean an individual or a joint venture;

                (5) "control" means equity ownership in a business entity that:

                     (a) represents at least fifty percent of the total voting power of that business entity; and

                     (b) has a value equal to at least fifty percent of the total equity of that business entity; and".

     3. Renumber the succeeding paragraph accordingly.