Text: H08031                            Text: H08033
Text: H08000 - H08099                   Text: H Index
Bills and Amendments: General Index     Bill History: General Index

House Amendment 8032

Amendment Text

PAG LIN
  1  1    Amend Senate File 477, as passed by the Senate, as
  1  2 follows:
  1  3    #1.  By striking everything after the enacting
  1  4 clause and inserting the following:
  1  5    "Section 1.  Section 422.121, Code Supplement 1999,
  1  6 is amended to read as follows:
  1  7    422.121  APPROPRIATION – LIMITATION.
  1  8    Beginning with For the fiscal year years beginning
  1  9 July 1, 1997, July 1, 1998, and July 1, 1999, there is
  1 10 appropriated annually from the general fund of the
  1 11 state two million dollars to refund the credits
  1 12 allowed under this division.  For the fiscal year
  1 13 beginning July 1, 2000, and each subsequent fiscal
  1 14 year, there is appropriated annually from the general
  1 15 fund of the state four million dollars to refund the
  1 16 credits allowed under this division.  Notwithstanding
  1 17 section 422.120, for tax years beginning on or after
  1 18 January 1, 1997, the livestock production tax credit
  1 19 shall only be allowed for cow-calf operations.  In
  1 20 calculating the tax credit for cow-calf operations for
  1 21 tax years beginning in the 1997 calendar year, mature
  1 22 beef cows bred or for breeding, bred yearling heifers,
  1 23 and breeding bulls in the operations' inventory on
  1 24 December 31 of the tax year which were also in the
  1 25 operations on July 1 of the tax year and stockers and
  1 26 feeders sold during the tax year may be counted.  In
  1 27 calculating the tax credit for cow-calf operations for
  1 28 tax years beginning on or after January 1, 1998, only
  1 29 those bred cows, bred heifers, and breeding bulls in
  1 30 the operations' inventory on December 31 of the tax
  1 31 year which were also in the operations on July 1 of
  1 32 the tax year may be counted." 
  1 33 
  1 34 
  1 35                               
  1 36 COMMITTEE ON WAYS AND MEANS
  1 37 VAN FOSSEN of Scott, Chairperson 
  1 38 SF 477.702 78
  1 39 mg/cls
     

Text: H08031                            Text: H08033
Text: H08000 - H08099                   Text: H Index
Bills and Amendments: General Index     Bill History: General Index

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