View Amendment Current Amendment: FIN to Bill 3340

The Committee on Finance proposed the following amendment (DG\3340C001.NBD.DG22):

Amend the bill, as and if amended, SECTION 1, by striking Section 12-20-105(A) and inserting:

/ "Section 12-20-105.(A) Any company subject to a license tax under Section 12-20-100 may claim a credit against its license tax liability for amounts paid in cash to provide infrastructure for an eligible project. A company may enter into a multi-year commitment to provide cash for eligible infrastructure. Where a company has entered into an agreement to pay in cash for infrastructure for an eligible project, and the eligible project is not constructed by the end of the tax year, the company may provide cash in that or a future year to another eligible project and retain the credit. /

Amend the bill further, SECTION 1, by striking Section 12-20-105(C )(7) and inserting:

/ (7) for a qualifying project pursuant to subsection (B)(2) cash payments to a county, political subdivision, or agency of this State for purposes of defraying public debt incurred to pay for infrastructure on the project are allowed./