Senate Bill No. 336

Introduced By _______________________________________________________________________________

A Bill for an Act entitled: "An Act extending the termination date for the income and corporate tax credit for recycling of material; amending section 5, chapter 542, laws of 1995; and providing an immediate effective date."

Be it enacted by the Legislature of the State of Montana:

Section 1. Section 5, Chapter 542, Laws of 1995, is amended to read:

"Section 5. Termination -- exception. (1) [Sections 1 through 3] terminate December 31, 1997 2001.

(2) Notwithstanding subsection (1), 15-32-603(3), as numbered by [this act], which reads: "A credit under this section may be claimed by a taxpayer for a business only if the qualifying property is purchased before January 1, 1998 2002.", is deleted in its entirety on December 31, 1997 2001."

NEW SECTION. Section 2.  Effective date. [This act] is effective on passage and approval.

-END-