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