1695 AMH ORCU MITC 049

HB 1695 - H AMD 71

By Representative Orcutt

   On page 2, beginning on line 2, after "by" strike all material through "thereafter," on line 16 and insert the following:
   "((the following:

   (i) For the period June 10, 2004, through December 31, 2006, the person's average tax rate for the calendar year for which the credit is claimed;

   (ii) For the calendar year ending December 31, 2007, the greater of the person's average tax rate for that calendar year or 0.75 percent;
   (iii) For the calendar year ending December 31, 2008, the greater of the person's average tax rate for that calendar year or 1.0 percent;

   (iv) For the calendar year ending December 31, 2009, the greater of the person's average tax rate for that calendar year or 1.25 percent;

   (v) For the calendar year ending December 31, 2010, and thereafter,)) 1.50 percent"

EFFECT: Makes the 1.5 percent amount used for the credit calculation available on October 1, 2007.