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1997 SESSION
(SB914)AMENDMENTS PROPOSED BY THE HOUSE COMMITTEE ON FINANCE
1. Page 3, engrossed, line 42, after Q.
insert
Notwithstanding subsection N,
2. Page 3, engrossed, line 49, after contract.
strike
the remainder of line 49 and all of lines 50 and 51
3. Page 4, engrossed, line 6, after O
strike
, P and Q
insert
and P
4. Page 4, engrossed, line 8, after 1997.
insert
That the provision of this act adding subsection Q shall be effective for taxable years beginning on or after January 1, 1995; however, in the case of a taxpayer which includes employees of a contractor or subcontractor as qualified full-time employees in computing its credit, any credit which is related to the establishment or expansion of all major business facilities during a twenty-four month period ending between January 1, 1995, and December 31, 1996, shall be limited to $750,000. A taxpayer subject to the foregoing limitation may elect the credit year in which it counts qualified full-time employees for purposes of computing its credit.