1371-S AMH BARK KRNG 020

SHB 1371 - H AMD TO H AMD (H-1645.1) 489

By Representative Barkis

ADOPTED 03/16/2023

On page 2, line 26 of the striking amendment, after "transfer" strike "agreement" and insert "application"

On page 3, line 35 of the striking amendment, after "mainline track," strike "major"

On page 4, at the beginning of line 24 of the striking amendment, strike "railroad"

On page 4, line 29 of the striking amendment, after "ties," insert "tie plates, joint bars,"

On page 6, beginning on line 12 of the striking amendment, strike all of subsection (8)

Renumber the remaining subsections consecutively and correct any internal references accordingly.

On page 6, at the beginning of line 18 of the striking amendment, strike "used for track maintenance, expansion, or modernization"

On page 10, line 28 of the striking amendment, after "mainline track," strike "major"

On page 13, beginning on line 7 of the striking amendment, strike all of subsection (8)

Renumber the remaining subsections consecutively and correct any internal references accordingly.

On page 13, at the beginning of line 17 of the striking amendment, strike "used for track maintenance, expansion, or modernization"

On page 14, line 23 of the striking amendment, after "Sections" strike "1, 2," and insert "2"

EFFECT: Makes the following changes:

Replaces the word "agreement" with "application" regarding tax credit transfer applications;

Removes the stipulation that qualified railroad modernization and rehabilitation expenditures include only major rail and tie replacement projects;

Removes the word "railroad" regarding types of materials eligible for a business and occupation tax credit;

Adds tie plates and joint bars as materials eligible for transfer from a class I railroad to an eligible taxpayer for a business and occupation tax credit;

Removes the specification that transferred materials can only be used for track maintenance, expansion, or modernization to qualify for a business and occupation or public utility tax credit;

Removes redundant refund language; and

Changes the effective date for the intent section of the bill.

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