SB 286-7_ Filed 02/23/2004, 10:53 Cheney


Text Box


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    WITHDRAWN        Noes _______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


[

HOUSE MOTION ____

]

MR. SPEAKER:

    I move that Engrossed Senate Bill 286 be amended to read as follows:

SOURCE: Page 21, line 29; (04)MO028602.21. -->     Page 21, between lines 29 and 30, begin a new paragraph and insert:
SOURCE: IC 6-3-2-20; (04)MO028602.15. -->     "SECTION 15. IC 6-3-2-20 IS ADDED TO THE INDIANA CODE AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE JULY 1, 2004]: Sec. 20. (a) As used in this section:
        (1) "steel framing" refers to steel framing manufactured in the United States; and
        (2) "qualifying residence" means a single family or two (2) family residence constructed wholly or partially with steel framing.
    (b) For taxable years beginning after December 31, 2004, a resident individual 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 acquires title to a qualifying residence that the taxpayer purchases from the builder of the qualifying residence.
    (c) The amount of the deduction under subsection (b) in a particular taxable year is the lesser of:
        (1) the part of the purchase price of the qualifying residence attributable to the cost of materials for the steel framing; or
        (2) one thousand dollars ($1,000).
    (d) To obtain the deduction provided by this section, the taxpayer must file with the department:
        (1) proof of the cost of materials for the steel framing; and
        (2) a list of the persons or businesses that supplied materials for the steel framing.
".
    Renumber all SECTIONS consecutively.
    (Reference is to ESB 286 as printed February 20, 2004.)

________________________________________

Representative Cheney


MO028602/DI 92     2004