2001 REGULAR SESSION (71st)                                                                            A AB657 446

Amendment No. 446

 

Assembly Amendment to Assembly Bill No. 657                                                              (BDR 32‑1454)

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 sec. 3, page 2, by deleting lines 12 and 13 and inserting:

     “(b) All parts and components”.

     Amend sec. 3, page 2, line 15, by deleting “vehicle.” and inserting:

“vehicle;

     (c) All motor vehicles used by professional racing teams to transport professional racing vehicles or to transport parts or components of professional racing vehicles, including, without limitation, an engine and chassis of a professional racing vehicle; and

(d) All motor vehicles used by a professional racing team or sanctioning body to transport the business office of the professional racing team or sanctioning body or to transport a facility from which hospitality services are provided.”.

     Amend sec. 3, page 2, by deleting lines 17 through 22.

     Amend sec. 3, page 2, line 23, by deleting “(b)” and inserting “(a)”.

     Amend sec. 3, page 2, line 27, by deleting “(c)” and inserting “(b)”.

     Amend sec. 3, page 2, between lines 29 and 30, by inserting:

“(c) “Sanctioning body” means an organization that establishes an annual schedule of professional racing events in which professional racing teams participate, grants rights to conduct such events and establishes and administers rules and regulations governing the persons who conduct or participate in such events.”.

     Amend sec. 5, page 3, by deleting lines 1 through 3 and inserting:

“operated by professional racing teams. The legislature has amended the Local School Support Tax Law and certain analogous taxes on retail sales to provide the”.

     Amend sec. 9, page 3, line 25, by deleting “vehicle; and” and inserting “vehicle;”.

     Amend sec. 9, page 3, by deleting line 26 and inserting:

     “(b) All parts and components that are”.

     Amend sec. 9, page 3, line 28, by deleting “vehicle.” and inserting:

“vehicle;

     (c) All motor vehicles used by professional racing teams to transport professional racing vehicles or to transport parts or components of professional racing vehicles, including, without limitation, an engine and chassis of a professional racing vehicle; and

(d) All motor vehicles used by a professional racing team or sanctioning body to transport the business office of the professional racing team or sanctioning body or to transport a facility from which hospitality services are provided.”.

     Amend sec. 9, page 3, by deleting lines 30 through 35.

     Amend sec. 9, page 3, line 36, by deleting “(b)” and inserting “(a)”.

     Amend sec. 9, page 3, line 39, by deleting “(c)” and inserting “(b)”.

     Amend sec. 9, page 3, between lines 41 and 42, by inserting:

“(c) “Sanctioning body” means an organization that establishes an annual schedule of professional racing events in which professional racing teams participate, grants rights to conduct such events and establishes and administers rules and regulations governing the persons who conduct or participate in such events.”.

     Amend sec. 10, page 3, by deleting lines 42 through 44 and inserting:

     “Sec. 10. 1.  This section and sections 1 to 8, inclusive, of this act, become effective upon passage and approval.

     2.  Section 9 of this act becomes effective upon passage and approval for the purpose of adopting any regulations necessary to carry out the provisions of section 9 of this act and on October 1, 2001, for all other purposes.”.

     Amend the title of the bill, fourth line, by deleting “vehicles; contingently” and inserting:

“vehicles and for motor vehicles used by professional racing teams or sanctioning bodies to transport certain items;”.

     Amend the summary of the bill to read as follows:

“SUMMARY—Proposes to exempt from sales and use taxes certain items used by professional racing teams or sanctioning bodies and provides exemption from certain other taxes for such items. (BDR 32-1454).”.