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91_SB1439sam001
LRB9111819SMdvam03
1 AMENDMENT TO SENATE BILL 1439
2 AMENDMENT NO. . Amend Senate Bill 1439 on page 17,
3 line 34, by replacing "increasing" with "increasing"; and
4 on page 18, line 3, by replacing "increasing" with
5 "increasing"; and
6 on page 18, by replacing lines 13 through 33 with the
7 following:
8 "For purposes of this subsection, "qualifying
9 expenditures" means the qualifying expenditures as defined
10 for the federal credit for increasing research activities
11 which would be allowable under Section 41 of the Internal
12 Revenue Code and which are conducted in this State,
13 "qualifying expenditures for increasing research activities
14 in this State" means the excess of qualifying expenditures
15 for the taxable year in which incurred over qualifying
16 expenditures for the base period, "qualifying expenditures
17 for the base period" means the average of the qualifying
18 expenditures for each year in the base period, and "base
19 period" means the 3 taxable years immediately preceding the
20 taxable year for which the determination is being made.".