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1 <br /> Pagel H,B, NO. g~l <br /> 1 deduction was taken. <br /> 2 (b) If the tax credit is claimed by a taxpayer at the rate <br /> 3 of four and one-half per cent, and the tangible personal property <br /> 4 is purchased in a county in which the county general excise and <br /> 5 use tax [surcharge] is not in effect, there shall be added to and <br /> 6 become part of the tax liability of the taxpayer: <br /> 7 (1) The amount of the tax credit claimed under this section <br /> g multiplied by three; or <br /> 9 (2) Ten per cent of the income tax liability for the <br /> <br /> 10 taxable year for which the income tax return is being <br /> <br /> 11 filed, <br /> 12 whichever is greater. <br /> 13 If the capital goods excise tax credit allowed under <br /> 14 subsection (a) exceeds the taxpayer's net income tax liability, <br /> 15 the excess of credit over liability shall be refunded to the <br /> 16 taxpayer; provided that no refunds or payment on account of the <br /> 17 tax credit allowed by this section shall be made for amounts less <br /> 18 than $1. <br /> 19 All claims for tax credits under this section, including any <br /> 20 amended claims, muse be filed on or before the end of the twelfth <br /> 2l month following the close of the taxable year for which the <br /> 22 credits may be claimed. Failure to comply with the foregoing <br /> HB LRB 97-0856 <br /> <br />