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Item 3-5.01 #1c
Adjustments and Modifications to Tax Collections
Qualified Equity and Subordinated Debt Investment Tax CreditLanguage

Language:
Page 379, line 30, strike "thereafter." and insert:
"thereafter, except that for taxable years beginning on and after January 1, 2010, and before December 31, 2010, the credit shall be limited to $5,000,000."

Explanation:
(This amendment eliminates the limit on the annual cap for calendar year 2010 only so that the statutory cap of $5.0 million will apply. This is a component of the Governor's jobs creation plan.)


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