| 1 | Representative Bogdanoff offered the following: |
| 2 |
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| 3 | Amendment (with title amendment) |
| 4 | Remove line(s) 503-515 and insert: |
| 5 | (q) Industrial machinery and equipment used in |
| 6 | manufacturing.-- |
| 7 | 1. Items of industrial machinery and equipment purchased |
| 8 | for use in manufacturing facilities or plant units that |
| 9 | manufacture, process, compound, or produce for sale items of |
| 10 | tangible personal property at fixed locations are exempt from |
| 11 | the tax imposed by this chapter when the individual item of |
| 12 | machinery or equipment has a sales price in excess of $5,000 and |
| 13 | the sale takes place on or after July 1, 2009, and before July |
| 14 | 1, 2011. |
| 15 | 2. This exemption shall inure to the taxpayer only through |
| 16 | a refund of previously paid taxes. However, the maximum amount |
| 17 | of tax available for refund for any taxpayer is $50,000 per |
| 18 | fiscal year. |
| 19 | 3. In order to obtain a refund under this paragraph, the |
| 20 | taxpayer must file a completed application for refund with the |
| 21 | Department of Revenue within 30 calendar days after the date of |
| 22 | purchase of the exempt item. A single application may request a |
| 23 | refund for more than 1 item of exempt property. The department |
| 24 | shall process completed applications in the order in which the |
| 25 | applications are received. The department may not approve more |
| 26 | than $2.5 million of total refunds in any fiscal year. |
| 27 | 4. The department shall establish the form for applying |
| 28 | for a refund under this paragraph. |
| 29 |
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| 30 |
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| 31 | ----------------------------------------------------- |
| 32 | T I T L E A M E N D M E N T |
| 33 | Remove line(s) 33-34 and insert: |
| 34 | used in manufacturing; specifying availability of the exemption |
| 35 | through refund; specifying a refund amount limitation; providing |
| 36 | refund application procedures and requirements; providing an |
| 37 | aggregate annual refund limitation; requiring the Department of |
| 38 | Revenue to establish the refund application form; repealing the |
| 39 | exemption for |