1st Sub.
S.B.
272
PROPERTY TAX RATE AMENDMENTS
Senate Floor
Amendments
Amendment 2 March 2, 2012 3:38 PM
Senator Benjamin M. McAdams proposes the following amendments:
1. Page 5, Line 145 through Page 6, Line 153 :
145 (x) (A) If, for a calendar year, a taxing entity has qualifying redemptions,
{
in calculating
}
146 the redemption amount
{
for the prior year
}
for purposes of calculating the five-year redemption
147 average required by Subsection (3)(c)(viii)(A)
{
, the redemption amount for the prior year
}
is as
148 provided in Subsections (3)(c)(x)(B) and (C).
149 (B) For
{
the prior
}
the initial calendar
year
{
described in Subsection
(3)(c)(x)(A)
}
a taxing entity has qualifying redemptions
, the taxing entity's
150 redemption amount for that
{
prior
}
calendar
year is the qualifying redemptions base amount.
151 (C) For each of the four calendar years after the
{
prior
}
calendar
year described in
Subsection
152 (3)(c)(x)
{
(A)
}
(B)
, one-fourth of the qualifying redemptions excess amount shall be added to the
153 redemption amount
{
for each calendar year
}
.
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