View Amendment Current Amendment: 1 to Bill 314

The Committee on Ways and Means proposes the following Amendment No. 1 to S. 314 (DG\314C001.NBD.DG19):

Reference is to Printer's Date 2/6/19-S.

Amend the bill, as and if amended, by adding an appropriately numbered SECTION to read:

/ SECTION___. ( A)Notwithstanding the credit amount for each rotation served and the annual credit limit set forth in Section 12 -6-3800, as added by this act, the credit amounts and credit limits must be phased-in over five years in equal and cumulative installments. The first year of implementation is tax year 2020.

(B) In accordance with subsection (A), the amount of the deduction allowed for rotations served pursuant to Section 12 -6-3800(E) and the item added to Section 12-6-1140 in this act, is subject to the phased-in and is equal to the amount the credit would have equaled in that particular tax year. /