FORTY-SIXTH LEGISLATURE

SECOND SESSION, 2004

February 16, 2004

Mr. Speaker:

    Your TAXATION AND REVENUE COMMITTEE, to whom has been referred

HOUSE BILL 527

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

     1. On page 4, lines 4 through 8, strike the underscored language and insert in lieu thereof:

"In the case of a qualified energy generator owned by more than one person, the taxpayer claiming the tax credit shall provide the taxation and revenue department with documentation satisfactory to the department of the agreement of the owners as to the allocation to each owner of the tax credit for which the qualified energy generator is eligible.".

     2. On page 4, lines 16 through 21, remove the brackets and line-through.

     3. On page 4, line 16, strike "The" and insert in lieu thereof:

"With respect to a qualified energy generator placed in service before July 1, 2004, the".

     4. Reletter succeeding subsections accordingly.

     5. On page 4, line 22, before "Tax" insert:

"With respect to a qualified energy generator placed in service on or after July 1, 2004, the taxation and revenue department shall issue a document granting the tax credit for the amount it has determined is due the taxpayer. The tax credit document shall be numbered for identification and declare the date of issuance and the amount of the credit.".

     6. On page 4, line 23, strike "Subsection D of this section" and insert in lieu thereof "this subsection".