FIFTY-SECOND LEGISLATURE

FIRST SESSION, 2015

March 16, 2015

Mr. Speaker:

    Your WAYS AND MEANS COMMITTEE, to whom has been referred

SENATE BILL 448

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

     1. On page 1, line 11, strike "REMOVING THE END DATE FOR" and insert in lieu thereof "DEFERRING THE EXPIRATION OF".

     2. On page 1, line 12, before the period, insert "; REQUIRING REPORTING".

     3. On page 1, line 24, remove the brackets and line-through.

     4. On page 1, line 24, strike "2016" and insert in lieu thereof "2025".

     5. On page 2, line 8, strike the closing quotation mark.

     6. On page 2, between lines 8 and 9, insert the following new subsection:

          "D. The department shall compile an annual report on the deduction provided by this section that shall include the number of taxpayers that claimed the deduction, the aggregate amount of deductions claimed and any other information necessary to evaluate the effectiveness of the deduction. No later than December 1 of each year that the deduction is in effect, the department shall compile and present the annual report to the revenue stabilization and tax policy committee and the legislative finance committee

with an analysis of the cost and benefit to the state of the deduction."".

                             Respectfully submitted,

Jason C. Harper, Chairman

Adopted     Not Adopted

           (Chief Clerk)                            (Chief Clerk)

Date

The roll call vote was 13 For 0 Against

Yes:      13

No:       0

Excused:  None

Absent:   None

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