.162655B.1

FORTY-SEVENTH LEGISLATURE

SECOND SESSION

February 16, 2006

Madam President:

Your

CONFERENCE COMMITTEE

, to whom has been referred

HOUSE TAXATION AND REVENUE COMMITTEE SUBSTITUTE

FOR HOUSE BILLS 358 & 359, as amended

has had it under consideration and reports same with the

following recommendation:

1. Senate Finance Committee Amendment 1 be DISAPPROVED.

2. Senate Floor Amendment 1 be DISAPPROVED.

and that the bill be amended further as follows:

3. On page 1, line 12, strike the semicolon and strike line

13 up to the period.

4. On page 2, line 16, before "an" insert "for taxable

years beginning prior to January 1, 2009,".

5. On page 2, line 16, after "percent" strike the remainder

of the line and strike lines 17 through 25 and on page 3 strike

lines 1 and 2 and strike line 3 up to the period.

6. On page 7, line 15, remove the bracket and line-through

"and".

7. On page 7, line 25, strike the semicolon and insert in

FORTY-SEVENTH LEGISLATURE

SECOND SESSION

CC/HTRC/HB 358 & 359, aa

Page 2

.162655B.1

lieu thereof a period and closing quotation mark.

8. On page 8, strike lines 1 through 5 in their entirety.

9. On page 8, lines 10 and 11, strike Section 5 and insert

in lieu thereof:

"Section 5. EFFECTIVE DATE.--The effective date of the

provisions of Section 3 of this act is July 1, 2006.".

Respectfully submitted,

_____________________________

Shannon Robinson

_____________________________

James G. Taylor

_____________________________

Stuart Ingle

Adopted___________________ Not Adopted___________________

(Chief Clerk) (Chief Clerk)

Date ______________