2009 Session

Budget Amendments - HB1600 (Committee Approved)

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Captive REITs (language only)

Item 3-5.08 #1h

Item 3-5.08 #1h

Adjustments and Modifications to Tax Collections
Captive Real Estate Investment Trust

Page 619, strike lines 5 through 44.

(This amendment eliminates language which implemented a change to the dividends deductible for corporations that are Captive Real Estate Investment Trusts (REITs). Stand-alone legislation (HB 2504) implementing this tax policy change has been adopted by the House, therefore this language is not needed in the appropriation act.)