1st Sub. H.B. 299
         TAX REVISIONS

House Committee Amendments

Amendment 2 February 24, 2012 8:22 AM



Representative John Dougall proposes the following amendments:

1.    Page 2, Lines 49 through 51 :    

             49          (d)
{   The sum of the nonrefundable tax credit claimed under Subsection (2)(a) and any

             50      excess amount carried forward pursuant to Subsection (2)(c) may not exceed 5% of the
             51      claimant's tax liability before tax credits under this chapter.   }
 

(d)    Notwithstanding Subsections (2)(a) and (c), a claimant may not claim for a taxable year a total amount that exceeds 5% of the claimant's tax liability before credits under this chapter from:
        (i)    the amount of a nonrefundable tax credit claimed under Subsection (2)(a); and
        (ii)    an amount carried forward pursuant to Subsection (2)(c).  

    

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