Adopted

AMENDMENT NO 1 PROPOSED TO

Senate Bill No. 2746

BY: Senator(s) Fillingane

     AMEND lines 52 through 57 by striking the underlined language and insert in lieu thereof the following:

If the applicant or taxpayer is an entity, the commissioner may also deny the application for a permit or revoke the permit if any partner, member or principal officer of such entity has failed to satisfy all of the finally determined tax liabilities owed by that partner, member or principal officer from a previous business.  Any denial or revocation of an entity's permit based on a partner's, member's or principal officer's finally determined tax liability shall only be authorized if the partner, member or principal officer owns ten percent (10%) or more of the entity, is or will be exercising responsibility for fiscal management and such person was exercising responsibility for fiscal management when the tax liability of the previous business accrued.  In lieu of denying or revoking a sole proprietor or entity's permit, the commissioner may accept an increased or additional bond which shall be in the amount of the liability due.  The bond shall remain in place until the finally determined liability has been satisfied, or after a four-year period commencing from the beginning date of the new business and during such time the taxpayer has demonstrated compliance with all provisions of this chapter.

     FURTHER amend lines 5, 6 and 7 of the title by striking lines 5 and 6 in their entirety and line 7 through the semicolon and insert in lieu thereof the following:

OR PRINCIPAL OFFICER OF SUCH ENTITY HAS FAILED TO SATISFY ALL OF THE FINALLY DETERMINED TAX LIABILITIES OWED BY THAT PARTNER, MEMBER OR PRINCIPAL OFFICER FROM A PREVIOUS BUSINESS; TO PROVIDE THAT SUCH DENIAL OR REVOCATION BASED ON A PARTNER'S, MEMBER'S OR PRINCIPAL OFFICER'S FINALLY DETERMINED TAX LIABILITY SHALL ONLY BE AUTHORIZED IF THE PARTNER, MEMBER OR PRINCIPAL OFFICER OWNS 10% OR MORE OF THE ENTITY, IS OR WILL BE EXERCISING RESPONSIBILITY FOR FISCAL MANAGEMENT AND WAS EXERCISING RESPONSIBILITY FOR FISCAL MANAGEMENT WHEN THE TAX LIABILITY OF THE PREVIOUS BUSINESS ACCRUED; TO PROVIDE THAT IN LIEU OF DENYING OR REVOKING A PERMIT, THE COMMISSIONER MAY ACCEPT AN INCREASED OR ADDITIONAL BOND WHICH SHALL BE IN THE AMOUNT OF THE LIABILITY DUE;