March 16, 1999

HOUSE FLOOR AMENDMENT number ______ to HOUSE BILL 787, as amended

Amendment sponsored by Representative Jerry W. Sandel

1. Strike House Taxation and Revenue Committee Amendments 1 and 2.

2. On page 1, line 13, strike "AMENDING" and insert in lieu thereof "PROVIDING A GROSS RECEIPTS TAX DEDUCTION FOR CERTAIN ENRICHED URANIUM SALES AND SERVICES AND A COMPENSATING TAX DEDUCTION FOR THE VALUE OF EQUIPMENT USED IN ENRICHING URANIUM; AMENDING AND ENACTING".

3. On page 11, between lines 7 and 8, insert the following new sections:

"Section 3. A new section of the Gross Receipts and Compensating Tax Act is enacted to read:

"[NEW MATERIAL] DEDUCTIONS--GROSS RECEIPTS TAX--SALES OF ENRICHED URANIUM AND ENRICHMENT OF URANIUM.--Receipts from selling enriched uranium and from providing the service of enriching uranium may be deducted from gross receipts."

Section 4. A new section of the Gross Receipts and Compensating Tax Act is enacted to read:

"[NEW MATERIAL] DEDUCTION--COMPENSATING TAX--URANIUM ENRICHMENT PLANT EQUIPMENT.--The value of equipment and replacement parts for that equipment may be deducted in computing the compensating tax due if the person uses the equipment and replacement parts to enrich uranium in a uranium enrichment plant."".

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Jerry W. Sandel

Adopted ___________________ Not Adopted ___________________________

 (Chief Clerk) (Chief Clerk)

Date ________________