5737-S AMH DICK H3257.1

SSB 5737 - H AMD 628 FAILED 4-18-97

By Dickerson

    Beginning on page 1, after line 4, strike all of sections 1 and 2 and insert the following:

    "NEW SECTION. Sec. 1.  A new section is added to chapter 82.04 RCW to read as follows:

    In computing the tax imposed under this chapter, a credit is allowed for one-half of the taxes paid under RCW 82.64.020.  The credit allowed under this section shall be limited to the amount of tax imposed under this chapter.  Any unused excess credit in a reporting period may be carried forward to future reporting periods for a maximum of one year."

    Renumber the following sections consecutively and correct the title.

EFFECT:  Replaces the 50% pop syrup tax cut and general fund appropriation with a B & O tax credit equal to 50% of pop syrup taxes paid.

                            --- END ---