SB3037 SD1 FA6

SENATE FLOOR AMENDMENT

 

FLOOR AMENDMENT NO.   Date  

TO: S.B. No. 3037, S.D. 1

SECTION 1. Senate Bill No. 3037, S.D. 1, is amended by amending Section 1 (b) of the bill to read as follows:

"(b) The amount of the nonrefundable tax credit shall be equal to ten per cent of the losses incurred by the taxpayer for repairs, insurance, rental, or other expenses or costs related to damage caused to the taxpayer's real or personal property by the heavy rain and flood in late October of 2004 in Manoa, Oahu[;] that are not reimbursable by insurance proceeds or disaster relief payments from government agencies or non-profit organizations; provided that the nonrefundable tax credit shall be ten per cent of the total loss [or] not to exceed $10,000 per taxpayer [,whichever is greater]; and provided further that no refund or payment on account of the tax credit allowed by this section shall be made for amounts less than $1."

Offered by:	( ) Carried
	( ) Failed to Carry
	( ) Withdrawn