02/15/2012 01:30 PM House FINANCE

HOUSE BILL NO. 118                                                                                                            
                                                                                                                                
          "An Act relating to a tax credit for corporate                                                                        
          income taxes paid for qualified research and                                                                          
          development expenditures; and providing for an                                                                        
          effective date."                                                                                                      
                                                                                                                                
1:38:22 PM                                                                                                                    
                                                                                                                                
Co-Chair Stoltze  announced a procedural error  in reporting                                                                    
out of committee the Labor  and Commerce version of CSHB 118                                                                    
instead of the Finance version of the bill.                                                                                     
                                                                                                                                
Co-Chair  Thomas   MOVED  to  RESCIND  CSHB   118(L&C)  that                                                                    
reported  out  of committee  on  2/13/2012.  There being  NO                                                                    
OBJECTION, it was so ordered.                                                                                                   
                                                                                                                                
Co-Chair  Thomas  MOVED  to  report  CSHB  118(FIN)  out  of                                                                    
committee   with   individual    recommendations   and   the                                                                    
accompanying fiscal notes.                                                                                                      
                                                                                                                                
Co-Chair Stoltze  OBJECTED for purpose of  discussion. There                                                                    
being NO further OBJECTION, it was so ordered.                                                                                  
                                                                                                                                
CSHB  118(FIN)  was  REPORTED  out  of  committee  with  "no                                                                    
recommendation"  and accompanying  new indeterminate  fiscal                                                                    
note  from the  Department of  Revenue and  new zero  fiscal                                                                    
note   from   the   Department  of   Labor   and   Workforce                                                                    
Development.                                                                                                                    
                                                                                                                                
1:41:13 PM