02/04/1994 01:33 PM Senate HES

 CHAIRMAN RIEGER  introduced  SB 225  (INSURANCE TAX CREDIT:  GIFTS TO    TO   
 COLLEGES) with the CS as the first order of business before the               
 committee.  He noted that the CS included his requested change.               
                                                                               
 SENATOR SHARP moved to adopt CSSB 225 (HES).                                  
                                                                               
 SENATOR SALO asked for an explanation of the changes Chairman                 
 Rieger had mentioned.                                                         
                                                                               
 CHAIRMAN RIEGER explained that this CS makes the restrictions on              
 the foundation the same as those on the institution itself.                   
                                                                               
 SENATOR SALO asked if there is a limit on the tax credit for these            
 contributions.                                                                
                                                                               
 CARROL CAROL, staff to Senator Kerttula, said that the total limit            
 is $150,000 or 50 percent of their tax liability, whichever is                
 less.                                                                         
                                                                               
 SENATOR LEMAN asked if the change in the CS was only a                        
 clarification of the language.  CHAIRMAN RIEGER said that between             
 the CS and the bill it was only a clarification of language.                  
 CARROL CAROL stated that the change only clarifies what is now                
 taking place.                                                                 
                                                                               
 SENATOR SHARP moved CSSB 225 out of committee with individual                 
 recommendations.  Hearing no objections, it was so ordered.