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Jul 24, 2006

Summary of Amendments Submitted to the Rules Committee on H.R. 1956 - Business Activity Tax Simplification Act of 2006

Summary of Amendment Submitted to the Rules Committee on
H.R. 1956 - BUSINESS ACTIVITY TAX SIMPLIFICATION ACT OF 2006

(in alphabetical order)

SUMMARY OF AMENDMENTS

(summaries derived from information provided by sponsors)

 



Conyers (MI)/Dicks (WA)/Delahunt (MA)

#3

(REVISED)  Ensures that the legislation does not take effect in a State until the Governor of that State certifies the Act will not reduce the State’s revenues affecting the State’s educational, health care, or homeland security needs.

Jackson-Lee (TX)

#2

Provides that the Act does not become effective until 60 days after the Federal minimum wage is increased to at least $7.25 per hour.

Sessions (TX)

#1

(WITHDRAWN)  Provides that goods warehoused in accordance with Article 7 of the Uniform Commercial Code will be exempt from the general rule that having tangible personal property in a state for more than 21 days confers tax nexus.