Text: S05186 Text: S05188 Text: S05100 - S05199 Text: S Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Amend Senate File 2360 as follows:
1 2 #1. Page 15, by inserting after line 8 the
1 3 following:
1 4 "Sec. 101. Section 422.121, Code Supplement 1997,
1 5 is amended to read as follows:
1 6 422.121 APPROPRIATION – LIMITATION.
1 7 Beginning with the fiscal year beginning July 1,
1 8 1997, there is appropriated annually from the general
1 9 fund of the state two million dollars to refund the
1 10 credits allowed under this division. Notwithstanding
1 11 section 422.120, for tax years beginning on or after
1 12 January 1, 1997, the livestock production tax credit
1 13 shall only be allowed for cow-calf operations. In
1 14 calculating the tax credit for cow-calf operations for
1 15 tax years beginning in the 1997 calendar year, bred
1 16 cows, bred heifers, and breeding bulls in the
1 17 operations' inventory on December 31 of the tax year
1 18 which were also in the operations on July 1 of the tax
1 19 year and stockers and feeders sold during the tax year
1 20 are to be counted. In calculating the tax credit for
1 21 cow-calf operations for tax years beginning on or
1 22 after January 1, 1998, only those bred cows, bred
1 23 heifers, and breeding bulls in the operations'
1 24 inventory on December 31 of the tax year which were
1 25 also in the operations on July 1 of the tax year are
1 26 to be counted."
1 27 #2. Page 38, by inserting after line 10 the
1 28 following:
1 29 "___. Section 101 of this Act, amending section
1 30 422.121, being deemed of immediate importance, takes
1 31 effect upon enactment and applies retroactively to
1 32 January 1, 1997, for tax years beginning on or after
1 33 that date."
1 34 #3. Title page, line 6, by inserting after the
1 35 word "taxes" the following: "and the livestock
1 36 production credit".
1 37
1 38
1 39
1 40 O. GENE MADDOX
1 41 SF 2360.703 77
1 42 mg/sc/28
Text: S05186 Text: S05188 Text: S05100 - S05199 Text: S Index Bills and Amendments: General Index Bill History: General Index
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