STATEMENT TO

 

[First Reprint]

SENATE, No. 231

 

with Senate Floor Amendments

(Proposed By Senator INVERSO)

 

ADOPTED: JUNE 13, 1996

 

 

      The purpose of this amendment is to change the date of certain privilege periods for S corporations from before July 1, 1996 or beginning on or after July 1, 1996 to ending on or before June 30, 1997. The purpose of this change is to avoid having the two new tax rates appear on the 1996 tax form.