AMENDMENT(S) PROPOSED BY THE SENATE

FINANCE

1. Line 51, introduced, after 2014

strike

2016

insert

2017

FINANCE

2. Line 93, introduced, after line 92

insert

3.  That the Department of Taxation shall submit a report concerning the tax credit set forth in § 58.1-439.12:07 of the Code of Virginia to the House Committee on Appropriations, the House Committee on Finance, and the Senate Committee on Finance no later than November 15 of the year immediately preceding any taxable year or calendar year in which the credit is due to expire.  Such report shall include (i) the number of persons, corporations, or other classes of taxpayers claiming the tax credit in each of the immediately preceding five years, (ii) the aggregate amount of credits claimed in each of the preceding five years by each class of taxpayers, (iii) the average amount of the credit claimed by each class of taxpayers in each of the preceding five years, (iv) the average amount of taxes paid, after claiming any credits or deductions, by each class of taxpayers claiming the tax credit in each of the preceding five years, (v) any noted trends in the use of the tax credit, and (vi) any other information deemed relevant by the Department of Taxation.  All other agencies of the Commonwealth involved in the administration of the tax credit shall provide any information requested by the Department of Taxation to assist in the formulation of the report.