Amendment SA3-SB453

LRBa1660/1

JK:jld:nwn

2007 - 2008 LEGISLATURE

SENATE AMENDMENT 3, TO 2007 SENATE BILL 453

March 12, 2008 - Offered by Senator Kreitlow.

SB453-SA3,1,1 At the locations indicated, amend the bill as follows:

SB453-SA3,1,3 1. Page 1, line 2: after "development zone" insert ", agricultural development zone,".

SB453-SA3,1,4 2. Page 1, line 3: before that line insert:

SB453-SA3,1,5 " Section 1d. 560.798 (2) (b) of the statutes is amended to read:

SB453-SA3,2,3 560.798 (2) (b) The designation of an area as an agricultural development zone shall be in effect for 10 years from the time that the department first designates the area. However, not Not more than $5,000,000 in tax benefits may be claimed in an agricultural development zone, except that the department may allocate the amount of unallocated airport development zone tax credits, as provided under s. 560.7995 (3) (b), to agricultural development zones for which the $5,000,000 maximum allocation is insufficient. The department may change the boundaries of an agricultural development zone during the time that its designation is in effect. A change in the boundaries of an agricultural development zone does not affect the duration of the designation of the area or the maximum tax benefit amount that may be claimed in the agricultural development zone.".

SB453-SA3,2,4 3. Page 1, line 3: delete " Section 1" and substitute "Section 1m".

SB453-SA3,2,6 4. Page 2, line 3: after " and" insert "to agricultural development zones under s. 560.798 (2) (b),".

SB453-SA3,2,8 5. Page 2, line 4: after " (b)" insert "and to all agricultural development zones under s. 560.798 (2) (b),".

SB453-SA3,2,9 (End)