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WITHDRAWN Noes _______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