February 25, 1998
Mr. Speaker:
The Revenue and Taxation Committee has returned H.B. 93, ENDOWMENT FUNDS FOR UTAH CHARITIES, by Representative J. Haymond, to the Rules Committee without recommendation and with the following amendments:
1. Page 1, Line 23: After "organization" delete "which endowment fund has total assets" and insert "that has total endowment fund assets"
2. Page 1, Line 23: After "less," delete "which" and insert "where the endowment fund"
3. Page 2, Line 2: After line 2 insert:
"(4) The amount of contribution claimed as a tax credit pursuant to this section may not also be claimed as a charitable deduction in determining net taxable income."
4. Page 2, Line 13: After "organization" delete "which endowment fund has total assets" and insert "that has total endowment fund assets"
5. Page 2, Line 13: After "less," delete "which" and insert "where the endowment fund"
6. Page 2, Line 22: After line 22 insert:
"(4) The amount of contribution claimed as a tax credit pursuant to this section may not also be claimed as a charitable deduction in determining net taxable income."
Respectfully,
Raymond W. Short
Committee Chair
14 HB0093.HC1 pmackay/BRH KMW/JBA 12:05 PM