Amendment AA4-ASA1-AB2

LRBa0140/1

JK:amn

2021 - 2022 LEGISLATURE

ASSEMBLY AMENDMENT 4, TO ASSEMBLY SUBSTITUTE AMENDMENT 1, TO ASSEMBLY BILL 2

February 10, 2021 - Offered by Joint Committee on Finance.

AB2-ASA1-AA4,1,1 At the locations indicated, amend the substitute amendment as follows:

AB2-ASA1-AA4,1,2 1. Page 41, line 18: after that line insert:

AB2-ASA1-AA4,1,3 “ Section 87m. 71.98 (10) of the statutes is created to read:

AB2-ASA1-AA4,1,9 71.98 (10) Paycheck protection program loan deduction. Notwithstanding the definitions for “Internal Revenue Code” in this chapter, for taxable years beginning after December 31, 2018, sections 276 (a) and (b) and 278 (a) of division N of P.L. 116-260, relating to the paycheck protection program loan deduction, except that no person may claim the deduction for expenses used to retain employment for work that the person subsequently outsourced to another person.”.

AB2-ASA1-AA4,1,10 (End)