FIFTY-FIRST LEGISLATURE

SECOND SESSION, 2014

January 29, 2014

Mr. Speaker:

    Your TAXATION AND REVENUE COMMITTEE, to whom has been referred

HOUSE BILL 14

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

     1. On page 1, line 20, before the period, insert "--REPORTING REQUIREMENTS".

     2. On page 2, between lines 18 and 19, insert the following new subsections:

          "D. A taxpayer allowed a deduction pursuant to this section shall report the amount of the deduction separately in a manner required by the department.

          E. The department shall compile an annual report on the deductions provided by this section that shall include the number of taxpayers approved by the department to receive the deductions, the aggregate amount of deductions approved and any other information necessary to evaluate the effectiveness of the deductions. Beginning in 2019 and every five years thereafter that the deductions are in effect, 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 deductions.".

     3. Reletter the succeeding subsection accordingly.,

and thence referred to the APPROPRIATIONS AND FINANCE COMMITTEE.

                             Respectfully submitted,

Edward C. Sandoval, Chairman

Adopted     Not Adopted

           (Chief Clerk)                            (Chief Clerk)

Date

The roll call vote was 11 For 2 Against

Yes:      11

No:       McCamley, Taylor

Excused:  Chavez, EH

Absent:   None

.196227.2

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