H2297B3347A06248 MSP:DM 03/14/08 #90 A06248 AMENDMENTS TO HOUSE BILL NO. 2297 Sponsor: REPRESENTATIVE KENNEY Printer's No. 3347 1 Amend Title, page 1, line 15, by striking out "and" where it 2 appears the third time and inserting a comma 3 Amend Title, page 1, line 16, by removing the period after 4 "tax" and inserting 5 and for local earned income and net profits taxes. 6 Amend Bill, page 7, by inserting between lines 9 and 10 7 Section 3.1. Section 703 of the act is amended by adding a 8 subsection to read: 9 Section 703. Local earned income and net profits taxes; 10 business privilege taxes. 11 * * * 12 (g) Determination of exemption.--For the purposes of 13 determining an exemption under this section, a tax on or 14 measured by any of the following shall be attributed to business 15 activity conducted within a subzone, improvement zone or 16 expansion zone by applying the apportionment factors under 17 section 515(d): 18 (1) Business gross receipts. 19 (2) Gross or net income. 20 (3) Gross or net profits. C14L90MSP/HB2297A06248