2003 Session

Budget Amendments - SB700 (Member Request)

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Chief Patron: Edwards
Retaliatory Costs Tax Credit (language only)

Item 3-5.04 #1s

Item 3-5.04 #1s

Adjustments and Modifications to Tax Collections
Retaliatory Costs to Other States Tax Credit

Page 573, strike lines 1 through 7.

(This amendment eliminates the requirement that the retaliatory cost tax credit for insurance companies first qualifying for the credit as of January 1, 2001, be limited to 80 percent in fiscal year 2003 and 60 percent in fiscal year 2004. A companion amendment is drawn to Item 0 to reduce general fund revenues by $1.1 million to reflect this action.)