2001 REGULAR SESSION (71st)                                                                       A AB460 R1 921

Amendment No. 921

 

Assembly Amendment to Assembly Bill No. 460  First Reprint                                            (BDR 43‑589)

Proposed by: Committee on Ways and Means

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, pages 1 and 2, by deleting lines 18 through 22 on page 1 and lines 1 through 7 on page 2 and inserting:

     “(b) [Remit] Except for the amount of money withheld pursuant to subsection 3, remit to the department of taxation[:

          (1) One-third of] the fees collected by the short-term lessor during the immediately preceding [year] calendar quarter pursuant to this section . [; and

          (2) Of the remainder of those fees, any amount in excess of]

     3.  A short-term lessor may deduct and withhold from the total fees otherwise due from him an amount equal to the total amount of vehicle licensing fees and taxes paid by the short-term lessor during the immediately preceding [year] calendar quarter pursuant to this chapter[.

     3.] , except that the total amount deducted and withheld by a single short-term lessor each calendar quarter must not exceed $25,000. For the purposes of this subsection, a short-term lessor and all of its subsidiaries and affiliates that share any common ownership shall be deemed to constitute a single short-term lessor.

     4.  The department of taxation shall deposit all money received”.