S0654B0698A03309 LKK:EJH 12/12/23 #90 A03309
AMENDMENTS TO SENATE BILL NO. 654
Sponsor: REPRESENTATIVE SAMUELSON
Printer's No. 698
Amend Bill, page 1, line 18, by striking out "(a.11) A
person" and inserting
(a.11) (1) Except as provided under paragraph (2), a
taxpayer who has partial or full ownership of land on which
taxable income is generated from the mining, extraction or
production of oil, gas, ores, minerals or other natural
resources of a mine, oil or gas well or other natural deposit
occurs
Amend Bill, page 2, by inserting between lines 1 and 2
(2) Once a taxpayer has recovered the original basis in the
property, the taxpayer is no longer eligible for the deduction
under paragraph (1).
Amend Bill, page 2, line 4, by striking out "2022" and
inserting
2023
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