LRBa0130/1
JK:cjs
2021 - 2022 LEGISLATURE
ASSEMBLY AMENDMENT 2,
TO ASSEMBLY SUBSTITUTE AMENDMENT 1,
TO ASSEMBLY BILL 2
February 10, 2021 - Offered by
Joint Committee on Finance.
AB2-ASA1-AA2,1,3
3“
Section 25m. 71.05 (6) (a) 30. of the statutes is created to read:
AB2-ASA1-AA2,1,74
71.05
(6) (a) 30. For taxable years beginning after December 31, 2018, the
5amount of the deductions in excess of $250,000 for expenses paid or incurred in the
6taxable year directly or indirectly from forgiven loans under sections 276 (a) and (b)
7and 278 (a) of Division N of P.L.
116-260.”.
AB2-ASA1-AA2,1,9
9“
Section 53m. 71.26 (2) (a) 13. of the statutes is created to read:
AB2-ASA1-AA2,2,210
71.26
(2) (a) 13. For taxable years beginning after December 31, 2018, plus the
11amount of the deductions in excess of $250,000 for expenses paid or incurred in the
1taxable year directly or indirectly from forgiven loans under sections 276 (a) and (b)
2and 278 (a) of Division N of P.L.
116-260.”.
AB2-ASA1-AA2,2,4
4“
Section 70m. 71.34 (1k) (q) of the statutes is created to read:
AB2-ASA1-AA2,2,85
71.34
(1k) (q) For taxable years beginning after December 31, 2018, an addition
6shall be made for the amount of the deductions in excess of $250,000 for expenses
7paid or incurred in the taxable year directly or indirectly from forgiven loans under
8sections 276 (a) and (b) and 278 (a) of Division N of P.L.
116-260.”.
AB2-ASA1-AA2,2,10
10“
Section 80m. 71.45 (2) (a) 22. of the statutes is created to read:
AB2-ASA1-AA2,2,1411
71.45
(2) (a) 22. For taxable years beginning after December 31, 2018, by
12adding to federal taxable income the amount of the deductions in excess of $250,000
13for expenses paid or incurred in the taxable year directly or indirectly from forgiven
14loans under sections 276 (a) and (b) and 278 (a) of Division N of P.L.
116-260.”.
