VALADEZ FLOOR AMENDMENT
SENATE AMENDMENTS TO S.B. 1258
(Reference to FIN amendment)
Page 1, strike lines 2 through 28
Page 2, strike lines 1 through 20 insert:
“’Section 1. Current contracts; application of tax rate increment
Through December 31, 2001, the additional transaction privilege tax rate increment imposed by section 42-5010, subsection G, Arizona Revised Statutes, does not apply to the gross proceeds of sales or gross income from the business of a taxpayer with respect to contracts entered into before June 1, 2001 unless the taxpayer has entered a contract that contains a provision that entitles the taxpayer to recover from the purchaser the amount of additional tax levied. The additional tax rate increment does apply with respect to those contracts from and after December 31, 2001.”
Renumber to conform
Page 2, line 29, strike the quotation marks
Between lines 29 and 30, insert:
“Sec. 3. Emergency
This act is an emergency measure that is necessary to preserve the public peace, health or safety and is operative immediately as provided by law.’”
Amend title to conform