Rep. MERRILL proposes the following Amendment No. 2 to H. 3059 (COUNCIL\GGS\22108ZW11):

Reference is to Printer's Date 4/07/11-H.

Amend the bill, as and if amended, Section 12-6-3376(B), as contained in SECTION 1, page 2, lines 12-21, by deleting subsection (B) in its entirety and inserting:

/            (B)      Notwithstanding the credit amount allowed pursuant to this section, for a fiscal year all claims made pursuant to this section must not exceed two hundred thousand dollars and must apply proportionately to all eligible claimants; provided, that beginning with fiscal year 2011, all claims made pursuant to this section must not exceed five hundred thousand dollars a fiscal year and shall apply to eligible claimants on a first-come, first-serve basis as determined by the Department of Revenue in a manner it prescribes until the total allowable credits for that fiscal year are exhausted. The tax credit provided pursuant to this act shall sunset after December 31, 2016."      /

Renumber sections to conform.
Amend title to conform.