Bill
Number: H.B. 2664
Yarbrough Floor Amendment
Reference to: FIN amendment
Amendment drafted by: Bill Ritz
FLOOR AMENDMENT EXPLANATION
Removes the reduction of the DOR audit period for tax adjustments not based on federal information.
Removes the permanent increase of the bonus depreciation allowance to 50%.
Removes the requirement for DOR to annually adjust income tax brackets for inflation.
Second Regular Session H.B. 2664
YARBROUGH FLOOR AMENDMENT
SENATE AMENDMENTS TO H.B. 2664
(Reference to FIN amendment)
Page 1, strike lines 1 and 2, insert:
Page 1, strike lines 2 through 45
Strike pages 2 through 12
Page 13, strike lines 1 through 41
Renumber to conform
Strike lines 10 through 13, insert:
Strike lines 25 through 33
Page 20, line 44, strike “THROUGH DECEMBER 31, 2014,”
Page 21, line 1, strike “the same as it would have been if subdivision (c) of this paragraph had” insert “the same as it would have been if subdivision (c) of this paragraph had”
Strike lines 2, 3 and 4
Line 5, strike “ALLOWED PURSUANT TO SECTION 168(k) OF THE INTERNAL REVENUE CODE” insert “applied”
Line 6, after the period strike remainder of line
Line 7, strike “THE TAXPAYER MAKES THIS ELECTION, IT” insert “Subdivision (c) of this paragraph”
Strike lines 11 through 15, insert:
“(c) In
taxable years beginning from and after December 31, 2013, an amount equal to
the depreciation allowable pursuant to section 167(a) of the internal revenue
code for the taxable year as computed as if the additional allowance for
depreciation had been ten per cent of the amount allowed pursuant to section
168(k) of the internal revenue code.”
Line 14, strike “the period” insert “‘33.’”
Line 17, strike “TAX PAYER’S” insert “TAXPAYER’S”
Page 1, strike line 21, insert:
Page 23, strike lines 4 through 31
Page 2, strike lines 9 through 17
Page 2, between lines 20 and 21, insert:
Page 28, line 35, after the period strike remainder of line
Line 36, strike “BEFORE JANUARY 1, 2014,”
Strike lines 30, 31 and 32
Page 3, strike lines 1 through 25, insert:
Page 29, line 8, strike “Section 42-1104” insert “Sections 43-1021, 43-1022, 43-1029, 43-1121, 43-1122 and 43-1127”
Line 9, strike “applies” insert “apply”
Strike lines 11 through 17
Amend title to conform
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4/17/14
10:48 AM
S: BR/ls