FIFTY-FIRST LEGISLATURESB 239/a

FIRST SESSION, 2013

February 25, 2013

Mr. President:

    Your CORPORATIONS AND TRANSPORTATION COMMITTEE, to whom has been referred

SENATE BILL 239

has had it under consideration and reports same WITHOUT RECOMMENDATION, amended as follows:

    1. On page 1, line 14, before the period, insert "; PROVIDING REPORTING REQUIREMENTS".

    2. On page 5, between lines 11 and 12, insert the following new subsection:

         "H. The department shall compile an annual report on the tax credit allowed pursuant to this section that shall include the number of taxpayers approved by the department to receive the

tax credit, the aggregate amount of credits approved and any other

information necessary to evaluate the effectiveness of the tax credit. Beginning in 2018 and every five years thereafter, the department shall compile and present the annual reports to the revenue stabilization and tax policy committee and the legislative finance committee with an analysis of the effectiveness and cost of the tax credit and whether the tax credit is performing the purpose for which it was created.".

    3. Reletter the succeeding subsection accordingly.

    4. On page 9, between lines 7 and 8, insert the following new subsection:

         "G. The department shall compile an annual report on the tax credit allowed pursuant to this section that shall include the number of taxpayers approved by the department to receive the

tax credit, the aggregate amount of credits approved and any other

information necessary to evaluate the effectiveness of the tax credit. Beginning in 2018 and every five years thereafter, the department shall compile and present the annual reports to the revenue stabilization and tax policy committee and the legislative finance committee with an analysis of the effectiveness and cost of the tax credit and whether the tax credit is performing the purpose for which it was created.".

    5. Reletter the succeeding subsection accordingly.,

and thence referred to the FINANCE COMMITTEE.

                               Respectfully submitted,

                               ___________________________________

                               SENATOR PHIL A. GRIEGO, CHAIRMAN

Adopted_______________________ Not Adopted_______________________

          (Chief Clerk) (Chief Clerk)

                  Date ________________________

The roll call vote was 10 For 0 Against

Yes:      10

No:       0

Excused: None

Absent:   None

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