LRBa1473/1
JK:cjs&kjf:jf
2011 - 2012 LEGISLATURE
ASSEMBLY AMENDMENT 3,
TO 2011 ASSEMBLY BILL 211
September 6, 2011 - Offered by Representative Kapenga.
AB211-AA3,1,12
4"2. A person who makes an investment in a community development financial
5institution in a taxable year, withdraws the investment in that taxable year, and
6immediately reinvests the proceeds into another community development financial
7institution may claim only one credit under this subsection for that taxable year,
8based on the lesser of all such investments in that taxable year. Investments in a
9community development financial institution made before the effective date of this
10subdivision .... [LRB inserts date], may not be withdrawn prior to the end of their
11contractual term and reinvested in a community development financial institution
12in order to claim a credit under this subsection.".
AB211-AA3,2,10
2"2. A person who makes an investment in a community development financial
3institution in a taxable year, withdraws the investment in that taxable year, and
4immediately reinvests the proceeds into another community development financial
5institution may claim only one credit under this subsection for that taxable year,
6based on the lesser of all such investments in that taxable year. Investments in a
7community development financial institution made before the effective date of this
8subdivision .... [LRB inserts date], may not be withdrawn prior to the end of their
9contractual term and reinvested in a community development financial institution
10in order to claim a credit under this subsection.".
AB211-AA3,2,21
13"2. A person who makes an investment in a community development financial
14institution in a taxable year, withdraws the investment in that taxable year, and
15immediately reinvests the proceeds into another community development financial
16institution may claim only one credit under this subsection for that taxable year,
17based on the lesser of all such investments in that taxable year. Investments in a
18community development financial institution made before the effective date of this
19subdivision .... [LRB inserts date], may not be withdrawn prior to the end of their
20contractual term and reinvested in a community development financial institution
21in order to claim a credit under this subsection.".
AB211-AA3,3,9
1"(b) An insurer who makes an investment in a community development
2financial institution in a taxable year, withdraws the investment in that taxable
3year, and immediately reinvests the proceeds into another community development
4financial institution may claim only one credit under this section for that taxable
5year, based on the lesser of all such investments in that taxable year. Investments
6in a community development financial institution made before the effective date of
7this paragraph .... [LRB inserts date], may not be withdrawn prior to the end of their
8contractual term and reinvested in a community development financial institution
9in order to claim a credit under this section.".
