FORTY-EIGHTH LEGISLATURE

FIRST SESSION, 2007

February 20, 2007

Mr. Speaker:

    Your BUSINESS AND INDUSTRY COMMITTEE, to whom has been referred

HOUSE BILL 833

has had it under consideration and reports same with recommendation that it DO PASS, amended as follows:

     1. On page 2, line 19, after the period insert:

     "Receipts may be deducted under this subsection only if the buyer delivers a nontaxable transaction certificate to the seller. The buyer shall use the property in the conduct of functions described in Section 501(c)(3) of the Internal Revenue Code of 1986, as amended, and shall not employ the tangible personal property in the conduct of an unrelated trade or business as defined in Section 513 of that code.",

and thence referred to the TAXATION AND REVENUE COMMITTEE.