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IMMEDIATE MESSAGES Siegrist of Pottawattamie asked and received unanimous consent that the following bills be immediately messaged to the Senate: Senate Files 2294 and 530. SENATE AMENDMENT CONSIDERED Larson of Linn called up for consideration House File 721, a bill for an act relating to an insurance premium tax credit for eligible businesses under the new jobs and income program, amended by the Senate, and moved that the House concur in the following Senate amendment H-8564: H-8564 1 Amend House File 721, as passed by the House, as 2 follows: 3 1. Page 1, line 2, by striking the word "CREDIT", 4 and inserting the following: "CREDITS". 5 2. Page 1, by striking line 3 and inserting the 6 following: 7 "1. An eligible business may claim an insurance 8 premium tax". 9 3. Page 1, by inserting after line 20 the 10 following: 11 "2. An eligible business which has entered into an 12 agreement under chapter 260E and which has increased 13 its base employment level by at least ten percent 14 within the time set in the agreement or, in the case 15 of a business without a base employment level, adds 16 new jobs within the time set in the agreement is 17 entitled to a new jobs insurance premium tax credit 18 for the tax year selected by the business. In 19 determining if the business has increased its base 20 employment level by ten percent or added new jobs, 21 only the new jobs directly resulting from the project 22 covered by the agreement and the new jobs directly 23 related to those new jobs shall be counted. The 24 amount of the credit is equal to the product of six 25 percent of the taxable wages upon which an employer is 26 required to contribute to the state unemployment 27 compensation fund, as defined in section 96.19, 28 subsection 37, times the number of new jobs existing 29 in the tax year that directly result from the project 30 covered by the agreement or new jobs that directly 31 result from those new jobs. The tax year chosen by 32 the business shall either begin or end during the 33 period beginning with the date by which the project is 34 to be completed under the agreement. Any credit in 35 excess of the tax liability for the tax year may be
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