First Regular Session S.B. 1263
PROPOSED AMENDMENT
SENATE AMENDMENTS TO S.B. 1263
(Reference to printed bill)
Page 3, line 25, after "interest" insert "by one or more individuals"
Line 30, after "if" strike remainder of line
Line 31, strike "1. An individual and"
Line 36, strike "(a)" insert "1."
Line 39, strike "(b)" insert "2."; strike "subdivision (a)" insert "paragraph 1"
Line 40, strike "paragraph" insert "subsection"
Strike lines 41 through 44, insert:
"B. If the transferor is an estate, trust, partnership, S corporation or another form of pass-through entity, and the last known address of a beneficiary, partner or other participating individual, who is liable for taxation on the proceeds from the conveyance, is outside the boundaries of this state, the withholding provisions prescribed by subsection A of this section apply to the proceeds to be paid to that individual."
Reletter to conform
Page 4, line 23, after "C." insert "Amounts withheld pursuant to subsection A of this section are for application toward the income tax liability of the transferor as prescribed by law."
Page 5, after line 14, insert:
"Sec. 5. Effective date
This act is effective from and after December 31, 2018."
Amend title to conform