3rd Sub. S.B. 27
         INDIVIDUAL INCOME TAX AND CORPORATE FRANCHISE AND INCOME TAX CREDITS FOR MINING ESTABLISHMENTS

Senate Floor Amendments

Amendment 1 February 1, 2001 10:20 am



Senator Howard Stephenson proposes the following amendments:

1.    Page 1, Line 20:    After " means " insert " the product of:
         (i) "

2.    Page 1, Line 23:    Delete " (i) " and insert " (A) "

3.    Page 1, Line 24:    Delete " (ii) " and insert " (B) " and after " lease; " insert " and "

4.    Page 1, Line 24:    After line 24 insert:
        " (ii) (A) 30% for the taxable year beginning on or after January 1, 2002, but beginning on or before December 31, 2002;
         (B) 60% for the taxable year beginning on or after January 1, 2003, but beginning on or before December 31, 2003; and
         (C) 100% for taxable years beginning on or after January 1, 2004; "

5.    Page 2, Line 31:    After " described in " delete " Sector 21, Mining " and insert " Subsector 212, Mining except Oil and Gas "


6.    Page 2, Line 36:    After " against the " delete " tax " and insert " taxes "

7.    Page 2, Line 55:    After " means " insert " the product of:
         (i) "

8.     Page 3, Line 58:    Delete " (i) " and insert " (A) "

9.    Page 3, Line 59:    Delete " (ii) " and insert " (B) " and after " lease; " insert " and "

10.    Page 3. Line 59:    After line 59 insert:
        " (ii) (A) 30% for the taxable year beginning on or after January 1, 2002, but beginning on or before December 31, 2002;
         (B) 60% for the taxable year beginning on or after January 1, 2003, but beginning on or before December 31, 2003; and
         (C) 100% for taxable years beginning on or after January 1, 2004; "

11.    Page 3, Line 66:    After " described in " delete " Sector 21, Mining " and insert " Subsector 212, Mining except Oil and Gas "

12.    Page 3, Line 71:    After " against the " delete " tax " and insert " taxes "