S.B. 226
         ACCOUNTANCY PRACTICE ACT

Senate Floor Amendments

Amendment 1 February 21, 2000 6:10 PM



Senator Valentine proposes the following amendments:

1.    Page 14, Line 414:    After line 414 insert:
        "(3)(a) A licensee may request a waiver of the requirements of Subsection (1) for a period not exceeding three years by:
        (i) submitting an application for waiver in a form approved by the division; and
        (ii) demonstrating that the licensee will be engaged in activities or be subject to circumstances which prevent the licensee from meeting the requirements of Subsection (1) during the period of the waiver.
        (b) An application for waiver shall be granted upon a showing of good cause.
        (c) A licensee who is granted a waiver under this section shall complete 30 hours of continuing professional education within the six months immediately following the expiration of the waiver that includes at least 16 hours of continuing professional education focusing on auditing."

2.    Page 15, Line 432:    Delete "and"

3.    Page 15, Line 437:    Delete "." and insert "; and"

4.    Page 15, Line 437:    After line 437 insert:
        "(6) a person licensed as a public accountant for a period of not less than 20 years as of July 1, 1981, if that person's license was current as of April 23, 1990."

5.    Page 19, Line 555:    After "if" insert ": (i)"

6.    Page 19, Line 556:    Delete "." and insert "; and"

7.    Page 19, Line 556:    After line 556 insert:
        "(ii) the receipt of the compensation complies with all of the other requirements of this section."

8.    Page 19, Line 585:    Delete "did not identify" and insert "identified"

9.    Page 19, Line 585:    Delete "by" and insert "on behalf of"

10.    Page 20, Line 586:    Delete "not"

11.    Page 20, Line 608:    After line 608 insert:
        "Section 23. Coordination clause.
        If this bill and S.B. 107, Professional Corporation Act Amendments, both pass, it is the intent of the Legislature that Section 16-11-8 read as provided in S.B. 107 with the following amendments:
        (1) on page 1, line 16, of S.B. 107 delete "if" and insert "unless";
        (2) on page 1, line 16, of S.B. 107 bracket "not" and insert ": (i)"; and
        (3) on page 1, line 18, of S.B. 107 delete "." and insert "; or (ii) qualified to be an officer, director, or shareholder under the applicable licensing act for the profession for which the corporation is organized.""