March 31, 2000
Your FINANCE COMMITTEE, to whom has been referred
has had it under consideration and reports same with recommendation that it DO PASS, amended as follows:
1. On page 1, line 11, strike "A GROSS RECEIPTS DEDUCTION" and insert in lieu thereof "GROSS RECEIPTS DEDUCTIONS".
2. On page 1, line 13, before the semicolon, insert "AND THE RECEIPTS OF ANY PERSON FOR CERTAIN AIRCRAFT SERVICES".
3. On page 2, between lines 22 and 23, insert the following new section:
"Section 2. A new section of the Gross Receipts and Compensating Tax Act is enacted to read:
"[NEW MATERIAL] DEDUCTION--GROSS RECEIPTS TAX--AIRCRAFT SERVICES.--Receipts from refurbishing, remodeling or otherwise modifying transport category aircraft over sixty-five thousand pounds gross landing weight may be deducted from gross receipts. As used in this section, "refurbishing, remodeling or otherwise modifying" does not include routine line maintenance of such aircraft."
4. Renumber the succeeding sections accordingly.".
Ben D. Altamirano, Chairman
Adopted_______________________ Not Adopted_______________________
(Chief Clerk) (Chief Clerk)
The roll call vote was 7 For 1 Against
Excused: Campos, Carraro, Eisenstadt, Ingle, McKibben