SB38 SFA Stollings 3-28 #1

Baker 7816

Senator Stollings moved to amend the bill on page two, section three, lines eleven through thirteen, by striking out all of subdivision (1) and inserting in lieu thereof a new subdivision, designated subdivision (1), to read as follows:

(1) Corporation net income taxes. — Any credit is first applied to reduce the taxes imposed by article twenty-four of this chapter for the taxable year.;

On page two, section three, line fourteen, after the word “taxes. –“ by inserting the words “After application of subdivision (1) of this subsection, any unused credit is next applied as follows:”;

And,

On page two, section three, line eighteen, by striking out the words “subdivisions (1) and (2)” and inserting in lieu thereof the words “subdivision (1)”.

Adopted

Rejected