Amendment No. 620

Assembly Amendment to Assembly Bill No. 506 (BDR 32-953)

Proposed by: Committee on Taxation

Amendment Box:

Resolves Conflicts with: N/A

Amends: Summary: Title: Preamble: Joint Sponsorship:

ASSEMBLY ACTION Initial and Date | SENATE ACTION Initial and Date

Adopted Lost | Adopted Lost

Concurred In Not | Concurred In Not

Receded Not | Receded Not

Amend section 1, page 1, line 10, by deleting "45" and inserting "30".

Amend sec. 4, page 3, line 21, after "for" by inserting "one-half of".

Amend sec. 4, page 3, by deleting lines 22 and 23 and inserting:

"through June 30 of that year; and".

Amend sec. 4, page 3, by deleting lines 26 through 29 and inserting:

"(c) On or before February 1] February 16 for the remaining one-half of the net proceeds extracted from January 1 through June 30 and for the net proceeds extracted from [October] July 1 through December 31 of the preceding year.".

Amend sec. 4, page 4, line 5, by deleting:

"before] February 1" and inserting:

"before February 1] February 16".

Amend sec. 4, page 4, line 14, by deleting "March" and inserting "[March] April".

Amend sec. 5, page 4, line 33, by deleting "February 20," and inserting:

"[February 20,] March 5,".

Amend sec. 5, page 5, line 13, after "on" by inserting "or before".

Amend the title of the bill to read as follows:

"AN ACT relating to taxation; revising the schedule for payment and refunds of the tax on the net proceeds of minerals; and providing other matters properly relating thereto.".

Amend the summary of the bill to read as follows:

"SUMMARY—Makes various changes regarding tax on net proceeds of minerals. (BDR 32-953)".