1087fa

___________________ moved that HB 1087 be amended as follows:

     On the printed bill, delete everything after the enacting clause and insert:

"      Section 1. Any owner who directly furnishes all or a portion of the materials for a contract related to the construction or improvement to a single-family dwelling after June 30, 2007, may receive a partial refund of the contractor's excise tax imposed pursuant to chapter 10-46A on owner supplied materials on which sales tax has been paid. No more than one refund request per single-family dwelling may be submitted and received per state fiscal year.

     Section 2. Terms used in used in this Act, inclusive, mean:

             (1)      "Department," the Department of Revenue and Regulation;

             (2)      "Owner furnished materials," the materials furnished by the owner during the improvement or construction of the single-family dwelling;

             (3)      "Owner project cost," the amount paid in money by the owner for owner furnished materials used in the contract for which the owner has documented receipts;

             (4)    "Secretary," the secretary of the Department of Revenue and Regulation;

             (5)      "Single-family dwelling," any dwelling or portion thereof that is owned and occupied by the owner and the dwelling is the owner's principal place of residence as defined in §  12-1-4. The term also includes any dwelling or portion thereof that is under construction or reconstruction by the owner and the dwelling when completed will be the owner's principal place of residence as defined in §  12-1-4. For the purposes of this subdivision, the term, single-family dwelling, means any house, manufactured home, or mobile home, and includes the garage, whether attached or unattached.

     Section 3. Any owner may apply for and obtain a refund for contractor's excise taxes imposed and paid under the provisions of chapter 10-46A for owner furnished materials for the construction of or improvement to a single-family dwelling as defined by this Act. The refund pertains only to owner project costs incurred and paid by the owner after June 30, 2007, for which the owner has documented receipts. The amount of the tax refund shall be one hundred percent of the contractor's excise taxes attributed to the owner furnished materials, not to exceed ten thousand dollars in the value of such materials, provided by the owner.

     Section 4. Any person desiring to claim a refund pursuant to this Act shall submit an application and supporting documentation as required by the secretary within six months of the owner incurring the owner project cost. The application shall be submitted on a form prescribed by the secretary.

Upon approval of the application, the secretary shall send the refund to the owner. The secretary may deny any application if the owner has failed to provide information or documentation requested or considered necessary by the secretary to determine the validity of the application.

     Section 5. The secretary may promulgate rules, pursuant to chapter 1-26, concerning the procedures for filing refund applications and the requirements necessary to qualify for a refund."