FIFTY-FIRST LEGISLATURESB 26/a
SECOND SESSION, 2014
January 29, 2014
Mr. President:
Your CORPORATIONS AND TRANSPORTATION COMMITTEE, to whom has been referred
SENATE BILL 26
has had it under consideration and reports same with recommendation that it DO PASS, amended as follows:
1. 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."
2. Reletter the succeeding subsection accordingly., and thence
referred to the FINANCE COMMITTEE.
___________________________________
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
SB0026CT1.wpd 196138.1