HB 1365-13_ Filed 02/04/2004, 06:41 Cochran


Text Box


    PREVAILED      Roll Call No. _______
    FAILED        Ayes _______
    WITHDRAWN        Noes _______
    RULED OUT OF ORDER


[

HOUSE MOTION ____

]

MR. SPEAKER:

    I move that House Bill 1365 be amended to read as follows:

SOURCE: Page 1, line 1; (04)MO136522.1. -->     Page 1, delete lines 1 through 17.
    Page 2, delete lines 1 through 26.
    Page 4, delete lines 35 through 42.
    Delete pages 5 through 6.
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    Page 13, delete lines 25 through 42.
    Page 14, delete line 1.
    Page 14, delete lines 18 through 32, begin a new paragraph and insert:
SOURCE: IC 6-3-1-35; (04)MO136522.6. -->     "SECTION 6. IC 6-3-1-35 IS ADDED TO THE INDIANA CODE AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE JANUARY 1, 2004 (RETROACTIVE)]: Sec. 35. For purposes of this chapter, "related member" means any of the following:
        (1) An entity whose activities, in one (1) state, are primarily:
            (A) the maintenance and management of intangible investments, including the intangible investments of corporations, including business trusts, and other entities registered as investment companies under the federal Investment Company Act of 1940; and
            (B) the collection and distribution of the income from:
                (i) investments described in clause (A); or
                (ii) tangible property physically located outside that state.
        (2) An entity that is:
            (A) a personal holding company; or
            (B) directly, indirectly, constructively, or beneficially owned in whole or in part by a personal holding company;
        (as defined in Section 542 of the Internal Revenue Code without regard to the stock ownership requirements set forth in Section 542(a)(2) of the Internal Revenue Code).
        (3) An entity that is a foreign personal holding company (as defined in Section 552 of the Internal Revenue Code).
        (4) An entity that:
            (A) is not a corporation; and
            (B) is directly, indirectly, constructively, or beneficially owned in whole or in part by a foreign personal holding company (as defined in Section 552 of the Internal Revenue Code).
".
SOURCE: Page 15, line 24; (04)MO136522.15. -->     Page 15, delete lines 24 through 42.
    Page 16, delete lines 1 through 42.
    Delete pages 17 through 21.
    Page 22, delete lines 1 through 16.
    Page 28, delete lines 31 through 37.
    Page 29, line 4, delete "a".
    Page 29, delete lines 13 through 26, begin a new paragraph and insert:
SOURCE: IC 6-5.5-1-12.5; (04)MO136522.12. -->     "SECTION 12. IC 6-5.5-1-12.5 IS ADDED TO THE INDIANA CODE AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE JANUARY 1, 2004 (RETROACTIVE)]: Sec. 12.5. For purposes of this chapter, "related member" means any of the following:
        (1) An entity whose activities, in one (1) state, are primarily:
            (A) the maintenance and management of intangible investments, including the intangible investments of corporations, including business trusts, and other entities registered as investment companies under the federal Investment Company Act of 1940; and
            (B) the collection and distribution of the income from:
                (i) investments described in clause (A); or
                (ii) tangible property physically located outside that state.
        (2) An entity that is:
            (A) a personal holding company; or
            (B) directly, indirectly, constructively, or beneficially owned in whole or in part by a personal holding company;
        (as defined in Section 542 of the Internal Revenue Code without regard to the stock ownership requirements set forth

in Section 542(a)(2) of the Internal Revenue Code).
        (3) An entity that is a foreign personal holding company (as defined in Section 552 of the Internal Revenue Code).
        (4) An entity that:
            (A) is not a corporation; and
            (B) is directly, indirectly, constructively, or beneficially owned in whole or in part by a foreign personal holding company (as defined in Section 552 of the Internal Revenue Code).
".

SOURCE: Page 30, line 18; (04)MO136522.30. -->     Page 30, delete lines 18 through 42.
    Page 31, delete lines 1 through 6.
    Page 31, line 19, delete "IC 6-2.5-8-10, as amended by this act, and the" and insert " The".
    Page 31, line 20, delete "apply" and insert " applies".
    Renumber all SECTIONS consecutively.
    (Reference is to HB 1365 as printed January 27, 2004.)

________________________________________

Representative Cochran


MO136522/DI 51     2004