Legislative Session number- 85

Bill Name: HF0496

HF 496

FIRST ENGROSSMENT

Tax policy and administrative technical provisions
modified.

ARTICLE 1-INCOME AND FRANCHISE TAXES

Section 1: Debt language
modified

Section 2: withholding statement to employee or payee and to
commissioner language modified.

Section 3: Regulated investment companies;
reporting exempt-interest dividends language modified.

Section 4: Individual
income, fiduciary income, corporate franchise, and entertainment taxes;
partnership and S corporation returns; information returns; mining company
returns language modified.

Section 5: Reportable transaction understatement
language modified.

Section 6: Corporations; modifications decreasing federal
taxable income language modified.

Section 7: Bovine testing credit language
modified.

Section 8: Inflation adjustment language modified.

Section 9:
Inflation adjustment language modified.

Section 10: Credit allowed language
modified.

Section 11: Exemption amount language modified.

Section 12: Deposit
definition language added.

Section 13: Dependent language modified.

Section
14: Determination language modified.

ARTICLE 2-SALES AND USE TAXES

Section 1:
Bad debt loss language modified.

Section 2: Border city zone refunds language
added.

Section 3: Sale and purchase language modified.

Section 4: Sales price
language added.

Section 5: Tangible personal property language
modified.

Section 6: Telecommunications services language modified.

Section 7:
Ancillary services language added.

Section 8: Conference bridging service
language added.

Section 9: Detailed telecommunications billing service language
added.

Section 10: Directory assistance language added.

Section 11: Vertical
service language added.

Section 12: Voice mail service language added.

Section
13: Ring tone language added.

Section 14: Presumption of tax; burden of proof
language modified.

Section 15: Defined telecommunications services sourcing
language modified.

Section 16: Postpaid calling service language
added.

Section 17: Prepaid calling service language modified.

Section 18:
Prepaid wireless calling service language added.

Section 19: Ancillary service
language added.

Section 20: Baby products language modified.

Section 21:
Advertising materials language modified.

Section 22: Packing materials language
modified.

Section 23: Telecommunications, cable television, and direct
satellite equipment language modified.

Section 24: Hospitals and outpatient
surgical centers language added.

Section 25: Private communication service for
State Lottery language added.

Section 26: Exemption certificates language
modified.

Section 27: Payment of tax language modified.

Section 28: Ordinary
course of business language modified.

Section 29: Sales tax exemption;
equipment; construction materials language modified.

ARTICLE 3-SPECIAL
TAXES

Section 1: Deficit assessments language modified.
Section 2: Premium tax
language modified.

Section 3: Exemptions language modified.

Section 4:
Tax-forfeited land language added.

Section 5: Use tax; prescription drugs
language modified.

Section 6: Tax collection language modified.

Section 7:
Pharmacy refund language added.

Section 8: Consumer use tax; use tax return;
cigarette consumer language added.

Section 9: Insurance policies surcharge
language added.

Section 10: Exemptions language modified.

Section 11: Joint
underwriting association offset language modified.

ARTICLE 4-PROPERTY TAXES AND
AIDS

Section 1: Flight property language added.

Section 2: Assessment of
flight property language modified.

Section 3: Report by airline company
language modified.

Section 4: Airflight property tax lien language
modified.

Section 5: Penalties language added.

Section 6: Examination;
investigations; subpoenas language added.

Section 7: Tax capacity language
added.

Section 8: Appeal language modified.

Section 9: Creation; purpose;
powers language modified.

Section 10: Definition of "board" provided.

Section
11: Members language modified.

Section 12: Licenses; refusal or revocation
language modified.

Section 13: Prohibited activity language modified.

Section
14: Charges for courses, examinations or materials language modified.

Section
15: Disposition of fees language added.

Section 16: Training courses regulation
language modified.

Section 17: Rules language modified.

Section 18: Licensure
of qualified persons language modified.

Section 19: Employment of licensed
assessors language modified.

Section 20: Commissioner may require social
security or identifying numbers on forms language modified.

Section 21:
Authority language added.

Section 22: Job opportunity building zone property
language added.

Section 23: Requirement language modified.

Section 24: Cities
and townships; employment of licensed assessor language added.

Section 25:
County or local assessing district to assume cost of training language
added.

Section 26: Requirements language modified.

Section 27: Conservation
property tax valuation language added.

Section 28: Valuation of real property,
notice language added.

Section 29: Reassessment of homestead property language
modified.

Section 30: Computation of local tax rates language
modified.

Section 31: Homestead application language modified.

Section 32:
Trust Property; homestead language modified.

Section 33: Class 1 language
added.

Section 34: Class 4 language modified.

Section 35: Disparity reduction
credit language added.
Section 36: Listing and assessment by commissioner
language added.

Section 37: Listing and assessment by commissioner language
added.

Section 38: Report required language added.

Section 39: Recommended and
ordered values language added.

Section 40: Ordinary board; meetings, deadlines,
grievances language added.

Section 41: Members; meetings; rules for equalizing
assessments language added.

Section 42: Handbook for county boards language
added.

Section 43: Notice of proposed property taxes language added.

Section
44: Public advertisement language modified.

Section 45: Special taxing
districts; organization date; certification of levy or special assessments
language modified.

Section 46: Electronic tax statements language
added.

Section 47: Partial payments language modified.

Section 48: Due dates;
penalties language modified.

Section 49: Claimant language modified.

Section
50: Applications language modified.

Section 51: Annual certification language
added.

Section 52: Penalties for removal language modified.

Section 53:
Appeals language added.

Section 54: Repealer language added.

ARTICLE
5-MISCELLANEOUS

Section 1: Refunds not subject to attachment or garnishment
language added.

Section 2: Required and excluded tax preparers language
added.

Section 3: State reimbursement language modified.

JAJ 2/12/07