Bank Franchise Tax Administrative Costs

Item 274 #1c

Language
Page 93, line 20, strike "$64,590,357" and insert "$65,136,897".

Explanation

(This amendment provides $546,540 the second year from the general fund and two positions for administrative costs incurred by the Department of Taxation in support of legislation passed by the 2023 General Assembly related to the Bank Franchise Tax. A companion amendment to House Bill 30 provides ongoing dollars and positions to effectuate the purposes of the law change. The full item will be set out upon enrollment of House Bill 30.)