House Amendment 8642


PAG LIN

     1  1    Amend the Senate amendment, H=8640, to House File
     1  2 2531, as amended, passed, and reprinted by the House,
     1  3 as follows:
     1  4 #1.  Page 57, by striking lines 1 through 29 and
     1  5 inserting:
     1  6                          <DIVISION ___
     1  7                   DISASTER=RELATED DEDUCTIONS
     1  8    Sec. ___.  DISASTER=RELATED PERSONAL CASUALTY
     1  9 LOSS DEDUCTIONS.  A taxpayer is allowed to take the
     1 10 deduction for disaster=related casualty losses under
     1 11 section 165(h) of the Internal Revenue Code, as
     1 12 modified by the Heartland Disaster Relief Act of 2008,
     1 13 Pub. L. No. 110=343, in computing net income for state
     1 14 tax purposes.
     1 15    Sec. ___.  EFFECTIVE UPON ENACTMENT AND RETROACTIVE
     1 16 APPLICABILITY.  This division of this Act, being deemed
     1 17 of immediate importance, takes effect upon enactment
     1 18 and applies retroactively to January 1, 2008, for
     1 19 tax years beginning on or after that date and before
     1 20 January 1, 2009.>
     1 21 #2.  By renumbering as necessary.


                                        
          PETTENGILL of Benton
          HF2531.2979 (2) 83
          tm/jp