72nd OREGON LEGISLATIVE ASSEMBLY--2003 Regular Session
 
SA to B-Eng. HB 2041
 
LC 1233/HB 2041-B31
 
                      SENATE AMENDMENTS TO
                   B-ENGROSSED HOUSE BILL 2041
 
                     By COMMITTEE ON REVENUE
 
                             July 15
 
  On page 1 of the printed B-engrossed bill, line 6, delete '
appropriating money; limiting expenditures;'.
  On page 18, delete lines 11 through 45.
  On page 19, delete lines 1 through 12 and insert:
  '  { +  NOTE: + } Sections 23 through 27 were deleted by
amendment.  Subsequent sections were not renumbered.'.
  In line 43, delete 'and likewise'.
  In line 44, delete 'that' and insert 'the'.
  In line 45, after the first 'year' insert 'and any credit not
used in the third succeeding tax year may be carried forward and
used in the fourth succeeding tax year'.
  On page 20, delete lines 33 through 45 and insert:
  '  { +  SECTION 29. + }  { + (1) The Department of
Environmental Quality and the Department of Revenue shall adopt
rules for implementing section 28 of this 2003 Act. Rules may
include but need not be limited to rules specifying procedures
for application, review and approval of the tax credit and rules
for issuance and use of a certificate of credit approval.
  ' (2) The application developed under subsection (1) of this
section shall include:
  ' (a) The name, address and taxpayer identification number of
the taxpayer;
  ' (b) The number of trucks owned by the taxpayer and the number
of engines eligible for the tax credit that the taxpayer has
purchased; and
  ' (c) Any other information that the rules adopted under
subsection (1) of this section may require.
  ' (3) Applications filed in compliance with this section and
section 28 of this 2003 Act shall be approved to the extent that
the total of estimated tax credits for all approved purchases of
engines for the calendar year is equal to or less than $3
million.  An application may not be approved if the addition of
the amount of the tax credit to the amount of the tax credits for
all approved purchases for the calendar year would exceed $3
million.
  ' (4) Notwithstanding section 31 of this 2003 Act, the
Department of Environmental Quality may approve applications for
tax credits for qualifying engines purchased in calendar years
2004, 2005, 2006 and 2007, although the taxpayer may not claim
the credit until a tax year beginning on or after January 1,
2005.
  ' (5) The Department of Revenue may disallow, in whole or in
part, a claim for credit under section 28 of this 2003 Act upon
the Department of Revenue's determination that, under section 28
of this 2003 Act, the taxpayer is not entitled to the credit or
is entitled to only a portion of the amount claimed.
  ' (6) The Department of Environmental Quality shall charge a
fee of $15 for each engine for which a taxpayer applies for a tax
credit. The fee is payable to the department and may not be
refunded to the applicant for any reason. + } ' .
  On page 21, delete lines 1 through 17.
  In line 21, delete the first '2004' and insert '2005'.
  After line 22, insert:
  '  { +  SECTION 31a. + }  { + Notwithstanding ORS 314.505 to
314.525 or 316.557 to 316.589, a taxpayer may not reduce
estimated tax payments made before July 1, 2005, on account of
the credit described in section 28 of this 2003 Act. + } ' .
  On page 22, line 34, delete 'may' and insert 'shall'.
  Delete lines 42 through 45 and insert:
  '  { +  NOTE: + } Section 40 was deleted by amendment.
Subsequent sections were not renumbered.'.
  On page 23, delete line 1.
                         ----------