2091-S AMH SOMM LONG 179

SHB 2091 - H AMD to H AMD (H2874.1)

By Representative H. Sommers

     On page 9 of the amendment, after line 33, insert:

     "(c) The amount of credit claimed by a taxpayer under this section shall be reduced by the amount of any compensation received from the federal government for reduced timber harvest due to enhanced aquatic resource requirements.  If the amount of compensation from the federal government exceeds the amount of credit available to a taxpayer in any reporting period, the excess shall be carried forward and applied against credits in future reporting periods.  This subsection (c) does not apply to small harvesters as defined in RCW 84.33.073."

     Renumber subsections consecutively, correct any internal references accordingly.

EFFECT: Tax credits are reduced by any amount of federal compensation.