February 19, 1998



Mr. President:

    The Revenue and Taxation Committee reports a favorable recommendation on S.B. 220, RESEARCH TAX CREDIT FOR MACHINERY AND EQUIPMENT, by Senator C. Peterson, with the following amendments:

1.    Page 1, Line 8:    After "BOTH" insert "PRIMARILY"

2.    Page 2, Line11:    Delete "subject to a" and insert "not exempt from" and delete "tax" and insert "taxes"

3.    Page 2, Line 12:    After "is" insert "primarily"

4.    Page 2, Line 15:    Delete "subject to" and insert "not exempt from" and delete "tax" and insert "taxes"

5.    Page 2, Line 16:    Delete "provided" and insert "donated" and after "organization to" insert "be primarily used to"

6.    Page 2, Line 31:    Delete "for" and insert "to be primarily used to conduct" and after "research" delete "conducted"

7.    Page 4, Line 15:    Delete "subject to a" and insert "not exempt from" and delete "tax" and insert "taxes"

8.    Page 4, Line 16:    After "is" insert "primarily"

9.    Page 4, Line 20:    Delete "subject to a" and insert "not exempt from" and delete "tax"

and insert "taxes"

10.    Page 4, Line 21:    Delete "provided" and insert "donated" and after "organization to" insert "be primarily used to"

11.    Page 5, Line 5:    Delete "for" and insert "to be primarily used to conduct" and after "research" delete "conducted"


        Respectfully,



        Howard Nielson
        Committee Chair



Voting: 5-0-4
3 SB0220.SC1 nwoodhea/OWA RLR/BRH 9:38 AM