February 20, 1998



Mr. President:

    The Revenue and Taxation Committee reports a favorable recommendation on S.J.R. 17, RESOLUTION AMENDING INTANGIBLE PROPERTY TAX PROVISIONS, by Senator L. Hillyard, with the following amendments:

1.    Page 3, Line 11:    After "statute" insert "but if taxed as property, the income therefrom may not also be taxed."    

                  Respectfully,



        Howard Nielson
        Committee Chair



Voting: 5-3-1
3 SJR017.SC1 nwoodhea/OWA RLR/BRH 6:10 PM