2089 AMH FISG H2954.2

HB 2089 - H AMD TO H AMD (H-3080.1/95)858 WITHDRAWN 4/13/95

By Representative G. Fisher

     On page 22, after line 6 of the amendment, insert the following:

     "Sec. 19.  RCW 82.04.4451 and 1994 sp.s. c 2 s 1 are each amended to read as follows:

     (1) In computing the tax imposed under this chapter, a credit is allowed against the amount of tax otherwise due under this chapter, as provided in this section.  The maximum credit for a taxpayer for a reporting period is ((thirty-five)) five hundred dollars multiplied by the number of months in the reporting period, as determined under RCW 82.32.045.

     (2) When the amount of tax otherwise due under this chapter is equal to or less than the maximum credit, a credit is allowed equal to the amount of tax otherwise due under this chapter.

     (3) When the amount of tax otherwise due under this chapter exceeds the maximum credit, a reduced credit is allowed equal to twice the maximum credit, minus the tax otherwise due under this chapter, but not less than zero."

     Renumber remaining sections consecutively, correct internal references accordingly, and correct the title.

EFFECT:  Increases the B&O tax credit.

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