HB 1268-4_ Filed 02/08/2005, 11:29 Brown C


Text Box


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    WITHDRAWN        Noes _______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


[

HOUSE MOTION ____

]

MR. SPEAKER:

    I move that House Bill 1268 be amended to read as follows:

SOURCE: Page 1, line 11; (05)MO126804.1. -->     Page 1, between lines 11 and 12, begin a new paragraph and insert:
SOURCE: IC 13-17-6-13; (05)MO126804.2. -->     "SECTION 2. IC 13-17-6-13 IS ADDED TO THE INDIANA CODE AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE JANUARY 1, 2006]: Sec. 13. (a) A taxpayer is entitled to a deduction from the taxpayer's adjusted gross income for a particular taxable year if, during that taxable year, the taxpayer incurs expenses for the:
        (1) abatement;
        (2) removal;
        (3) renovation;
        (4) enclosure;
        (5) repair; and
        (6) encapsulation;
of asbestos containing material in the performance of an asbestos project under this chapter.
    (b) The amount of the deduction to which a taxpayer is entitled in a particular taxable year is the amount the taxpayer pays for labor and materials for the asbestos project performed under this chapter during the taxable year.
    (c) To obtain the deduction provided by this section, the taxpayer must file with the department of state revenue proof of the taxpayer's expenses for the asbestos project and a list of the persons or corporations who supplied labor or materials for the asbestos project.
".
SOURCE: Page 3, line 2; (05)MO126804.3. -->     Page 3, after line 2, begin a new paragraph and insert:
SOURCE: ; (05)MO126804.5. -->     "SECTION 5. [EFFECTIVE JANUARY 1, 2006] IC 13-17-6-13, as added by this act, applies to taxable years beginning after December 31, 2005.".
    Renumber all SECTIONS consecutively.
    (Reference is to HB 1268 as printed February 4, 2005.)

________________________________________

Representative Brown C


MO126806/DI 92
2005