Amend CSHB 2372 (House committee report) on page 2, between
lines 23 and 24, by inserting a new SECTION to read as follows and
renumbering all subsequent SECTIONS appropriately:
      SECTION 2.  (a)  Notwithstanding any other provision of this
Act, the governing body of a local taxing authority that imposes a
local sales and use tax may repeal an exemption to that tax
authorized by this Act if the governing body finds by an
appropriate order, including an ordinance, that the exemption would
materially impair the obligation of any contract existing at the
time this Act goes into effect and to which the local taxing
authority is a party.
      (b)  The secretary of the local taxing authority adopting an
order under this section shall send to the comptroller by certified
or registered mail a copy of the order.
      (c)  The repeal of the exemption takes effect on the first
day of the month following the expiration of the calendar quarter
occurring after the date on which the comptroller receives a copy
of the order.