SB 333-1_ Filed 03/05/2001, 10:17
Adopted 03/05/2001

SENATE MOTION


MR. PRESIDENT:

    I move
that Senate Bill 333 be amended to read as follows:

SOURCE: Page 4, line 18; (01)MO033301.4. -->     Page 4, line 18, after "12." insert " (a)".
    Page 4, between lines 23 and 24, begin a new paragraph and insert:
    " (b) If a taxpayer receives a credit under this chapter and does not make the qualified investment (or a portion of the qualified investment) for which the credit was granted within the time required by subsection (a), the department may require the taxpayer to repay the following:
        (1) The additional amount of state tax liability that would have been paid by the taxpayer if the credit had not been granted for the qualified investment (or portion of the qualified investment) that was not made by the taxpayer within the time required by subsection (a).
        (2) Interest at a rate established under IC 6-8.1-10-1(c) on the additional amount of state tax liability referred to in subdivision (1).
".
    (Reference is to SB 333 as printed March 2, 2001.)

________________________________________

Senator SIMPSON


MO033301/DI 73     2001