Senate Bill 1802
CODING: Words stricken are deletions; words underlined are additions.
Florida Senate - 1998 SB 1802
By Senator Ostalkiewicz
12-1531-98
1 A bill to be entitled
2 An act relating to the tax on sales, use, and
3 other transactions; amending s. 212.11, F.S.;
4 providing for a reduction in, and the eventual
5 recision of, the prepayment requirement;
6 providing an effective date.
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8 Be It Enacted by the Legislature of the State of Florida:
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10 Section 1. Subsection (5) is added to section 212.11,
11 Florida Statutes, to read:
12 212.11 Tax returns and regulations.--
13 (5) An amount equal to 50 percent of the net year-end
14 nonrecurring surplus must be used to decrease the percentage
15 requirement of prepaid sales tax due under subparagraph
16 (1)(a)1. for the following calendar year, by using the
17 succeeding year-end nonrecurring surplus as calculated by the
18 following formula:
19 Gross year-end nonrecurring surplus less
20 constitutionally required contributions to the
21 Budget Stabilization Fund equals net year-end
22 nonrecurring surplus.
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24 This process must continue in each year in which the state
25 produces a net year-end nonrecurring surplus until the
26 prepayment requirement is at 0 percent.
27 Section 2. This act shall take effect June 30, 1998.
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CODING: Words stricken are deletions; words underlined are additions.
Florida Senate - 1998 SB 1802
12-1531-98
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2 SENATE SUMMARY
3 Provides for a gradual reduction in, and the eventual
recision of, the requirement that dealers prepay state
4 sales tax.
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