Language Page 421, after line 14, insert:"§ 3-5.06 LIMIT THE SALES AND USE TAX CREDIT FOR INTERNET SERVICE PROVIDERSNotwithstanding any other provision of law, for purchases made between July 1, 2002, and June 30, 2004, any exemption from the retail sales and use tax applicable to production, distribution, and other equipment used to provide Internet-access services by providers of Internet service, as defined in § 58.1-602, Code of Virginia, shall apply to only ninety percent of the cost of purchases otherwise qualifying for exemption."
Explanation(This amendment limits the amount of the sales tax exemption for Internet service providers to 90 percent of the cost price of purchases otherwise qualifying for exemption. A companion amendment increases general fund revenue by $520,000 each year.)