HB 1332-2_ Filed 01/25/2006, 21:13
Adopted 1/26/2006


Text Box

Adopted Rejected


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COMMITTEE REPORT


                                                        YES:

23

                                                        NO:
0

MR. SPEAKER:
    Your Committee on       Ways and Means     , to which was referred       House Bill 1332     , has had the same under consideration and begs leave to report the same back to the House with the recommendation that said bill be amended as follows:

SOURCE: Page 1, line 1; (06)AM133203.1. -->     Page 1, delete lines 1 through 17.
    Delete pages 2 through 3.
    Page 4, delete lines 1 through 20.
    Page 4, line 36, delete "four".
    Page 4, line 36, strike "million dollars".
    Page 4, line 36, delete "($4,000,000)" and insert " the following amounts".
    Page 4, line 37, delete "." and insert ":".
    Page 4, between lines 37 and 38, begin a new line block indented and insert:
        " (1) One million dollars ($1,000,000) in the case of a taxpayer who produces less than thirty million (30,000,000) gallons of biodiesel in a taxable year.
        (2) Two million dollars ($2,000,000) in the case of a taxpayer who produces at least thirty million (30,000,000) but less than

sixty million (60,000,000) gallons of biodiesel in a taxable year.
        (3) Three million dollars ($3,000,000) in the case of a taxpayer who produces at least sixty million (60,000,000) gallons of biodiesel in a taxable year.
".
    Page 4, strike lines 38 through 41.
    Page 4, line 42, delete "twenty".
    Page 4, line 42, strike "million dollars".
    Page 4, line 42, delete "($20,000,000)".
    Page 4, line 42, strike "for all taxable".
    Page 5, strike lines 1 through 2.
    Page 5, line 18, delete "four".
    Page 5, line 18, strike "million dollars".
    Page 5, line 19, delete "($4,000,000)" and insert " the following amounts".
    Page 5, line 19, delete "." and insert ":".
    Page 5, line 19, delete "However, the total amount of".
    Page 5, delete lines 20 through 25, begin a new line block indented and insert:
        " (1) One million dollars ($1,000,000) in the case of a taxpayer who produces less than thirty million (30,000,000) gallons of blended biodiesel in a taxable year.
        (2) Two million dollars ($2,000,000) in the case of a taxpayer who produces at least thirty million (30,000,000) but less than sixty million (60,000,000) gallons of blended biodiesel in a taxable year.
        (3) Three million dollars ($3,000,000) in the case of a taxpayer who produces at least sixty million (60,000,000) gallons of blended biodiesel in a taxable year.
".
    Page 5, delete lines 38 through 42, begin a new paragraph and insert:

SOURCE: IC 6-3.1-28-11; (06)AM133203.4. -->     "SECTION 4. IC 6-3.1-28-11, AS AMENDED BY P.L.191-2005, SECTION 14, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE JANUARY 1, 2006 (RETROACTIVE)]: Sec. 11. (a) The total amount of credits allowed a taxpayer (or, if the person producing the ethanol is a pass through entity, the shareholders, partners, or members of the pass through entity) under this chapter may not exceed a total of three million dollars ($3,000,000) the following amounts for all taxable years:
        (1) Two million dollars ($2,000,000) in the case of a taxpayer

who produces at least forty million (40,000,000) but less than sixty million (60,000,000) gallons of ethanol in a taxable year.
        (2) Three million dollars ($3,000,000) in the case of a taxpayer who produces at least sixty million (60,000,000) gallons of ethanol in a taxable year.

    (b) Notwithstanding subsection (a), the total amount of credits allowed a taxpayer (or if the person producing ethanol is a pass through entity, the shareholders, partners, or members of the pass through entity) may be increased to an amount not to exceed a total of five million dollars ($5,000,000) for all taxable years with the prior approval of the Indiana economic development corporation.".
    Delete pages 6 through 20.

SOURCE: Page 21, line 1; (06)AM133203.21. -->     Page 21, delete lines 1 through 12.
    Page 21, line 13, delete "(c)" and insert "SECTION 5. [EFFECTIVE JANUARY 1, 2006 (RETROACTIVE)]".
    Page 21, line 13, delete ", IC 6-3.1-28, and IC 6-3.1-29, all" and insert " and IC 6-3.1-28, both".
    Page 21, delete lines 15 through 20.
    Renumber all SECTIONS consecutively.
    (Reference is to HB 1332 as printed January 20, 2006.)

and when so amended that said bill do pass.

__________________________________

Representative Espich


AM133203/DI 92    2006