By Representative Nealey

 

On page 3, at the beginning of line 3, strike all material through "claimed." on line 4 and insert "The market value must be determined as of January 1st of the year prior to the year for which the credit is claimed and may be used for the next two years unless a more recent appraisal or current assessed value is available."

On page 3, beginning on line 29, strike all of section 3 and insert the following:

NEW SECTION.  Sec. 3.  "The credit provided under section 2 of this act may not be claimed for tax reporting periods beginning on or after September 20, 2020.

Correct the title.

EFFECT: Allows the market value determination of property to be used for the current and subsequent calendar years. Adjusts the effective and expiration dates by 3 months.