HB 1004-12_ Filed 02/26/2002, 08:47 Craycraft

MR. PRESIDENT:

    I move that Engrossed House Bill 1004 be amended to read as follows:

SOURCE: Page 67, line 11; (02)MO100437.67. -->     Page 67, between lines 11 and 12, begin a new paragraph and insert:

SOURCE: IC 6-3-2-6; (02)MO100437.48. -->     "SECTION 48. IC 6-3-2-6 , AS AMENDED BY P.L.14-1999, SECTION 1, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE JANUARY 1, 2004]: Sec. 6. (a) Each taxable year, an individual who rents a dwelling for use as his the individual's principal place of residence may deduct from his the individual's adjusted gross income (as defined in IC 6-3-1-3.5 (a)), the lesser of:
        (1) the amount of rent paid by him the individual with respect to the dwelling during the taxable year; or
        (2) two four thousand dollars ($2,000). ($4,000).
    (b) Notwithstanding subsection (a), a husband and wife filing a joint adjusted gross income tax return for a particular taxable year may not claim a deduction under this section of more than two four thousand dollars ($2,000). ($4,000).
    (c) The deduction provided by this section does not apply to an individual who rents a dwelling that is exempt from Indiana property tax.

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    (d) For purposes of this section, a "dwelling" includes a single family dwelling and unit of a multi-family dwelling.".
    Renumber all SECTIONS consecutively.
    (Reference is to EHB 1004 as printed February 22, 2002.)

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