FIFTIETH LEGISLATURESB 16/a

SECOND SESSION, 2012

February 12, 2012

Mr. President:

    Your FINANCE COMMITTEE, to whom has been referred

SENATE CORPORATIONS AND TRANSPORTATION COMMITTEE SUBSTITUTE FOR SENATE BILL 16

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

    1. On page 4, line 4, after "department", insert ", with the cooperation of the taxation and revenue department,".

    2. On page 5, line 14, after "Act", insert "based on the same job upon which the state graduate employment tax credit is predicated".

    3. On page 5, line 21, after the period, insert:

    "A taxpayer who submits a claim for a state graduate employment tax credit who is unable to receive the tax credit because the claims exceed the annual aggregate limitation in this subsection shall be placed for the subsequent year at the front of a queue of state graduate employment tax credit claimants submitting claims in the subsequent year in the order of the date on which the department received the application.".

    4. On page 7, line 2, strike "post-secondary" and insert in lieu thereof "post-baccalaureate".

    5. On page 9, line 11, after "department", insert ", with the cooperation of the taxation and revenue department,".

    6. On page 10, line 21, after "Act", insert "based on the same job upon which the state graduate employment tax credit is predicated".

    7. On page 11, line 2, after the period, insert:

    "A taxpayer that submits a claim for a state graduate employment tax credit that is unable to receive the tax credit because the claims exceed the annual aggregate limitation in this subsection shall be placed for the subsequent year at the front of a queue of state graduate employment tax credit claimants submitting claims in the subsequent year in the order of the date on which the department received the application.".

    8. On page 12, line 7, strike "post-secondary" and insert in lieu thereof "post-baccalaureate".

                               Respectfully submitted,

                               ___________________________________

                               John Arthur Smith, Chairman

Adopted_______________________ Not Adopted_______________________

          (Chief Clerk) (Chief Clerk)

                  Date ________________________

The roll call vote was 9 For 0 Against

Yes:     9

No:      0

Excused: Morales, Ortiz y Pino

Absent:  None

SB0016FC1.wpd                                              .189567.1