Amendment AA1-AB717

LRBa1008/1

JK:cdc

2021 - 2022 LEGISLATURE

ASSEMBLY AMENDMENT 1, TO ASSEMBLY BILL 717

November 29, 2021 - Offered by Representative Wittke.

AB717-AA1,1,1 At the locations indicated, amend the bill as follows:

AB717-AA1,1,2 1. Page 2, line 2: delete “pursuant to" and substitute “under section 5003 of".

AB717-AA1,1,5 2. Page 2, line 5: after “deductible." insert “Amounts excluded under this paragraph by a tax-option corporation or partnership shall be treated as tax-exempt income for purposes of sections 705 and 1366 of the Internal Revenue Code.".

AB717-AA1,1,6 3. Page 2, line 8: delete “pursuant to" and substitute “under section 5003 of".

AB717-AA1,1,10 4. Page 2, line 10: after “deductible." insert “Amounts excluded under this subdivision by a tax-option corporation or partnership shall be treated as tax-exempt income for purposes of sections 705 and 1366 of the Internal Revenue Code.".

AB717-AA1,1,11 5. Page 3, line 9: delete “pursuant to" and substitute “under section 5003 of".

AB717-AA1,2,3 6. Page 3, line 11: after “deductible." insert “Amounts excluded under this paragraph by a tax-option corporation or partnership shall be treated as tax-exempt income for purposes of sections 705 and 1366 of the Internal Revenue Code.".

AB717-AA1,2,4 7. Page 3, line 14: delete “pursuant to" and substitute “under section 5003 of".

AB717-AA1,2,7 8. Page 3, line 16: after “deductible." insert “Amounts excluded under this paragraph by a tax-option corporation or partnership shall be treated as tax-exempt income for purposes of sections 705 and 1366 of the Internal Revenue Code.".

AB717-AA1,2,8 9. Page 3, line 20: delete “pursuant to" and substitute “under section 5003 of".

AB717-AA1,2,12 10. Page 3, line 22: after “deductible." insert “Amounts excluded under this subdivision by a tax-option corporation or partnership shall be treated as tax-exempt income for purposes of sections 705 and 1366 of the Internal Revenue Code.".

AB717-AA1,2,13 (End)