House Bill 1119

    Florida House of Representatives - 1999                HB 1119

        By Representative Sembler






  1                      A bill to be entitled

  2         An act relating to tax on sales, use, and other

  3         transactions; amending s. 212.08, F.S.;

  4         providing an exemption for purchase of

  5         membership rights in, and payment of initiation

  6         fees to, certain private equity membership

  7         clubs; providing an effective date.

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  9  Be It Enacted by the Legislature of the State of Florida:

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11         Section 1.  Paragraph (zz) is added to subsection (7)

12  of section 212.08, Florida Statutes, 1998 Supplement, to read:

13         212.08  Sales, rental, use, consumption, distribution,

14  and storage tax; specified exemptions.--The sale at retail,

15  the rental, the use, the consumption, the distribution, and

16  the storage to be used or consumed in this state of the

17  following are hereby specifically exempt from the tax imposed

18  by this chapter.

19         (7)  MISCELLANEOUS EXEMPTIONS.--

20         (zz)  Memberships in private equity membership

21  clubs.--Refundable and nonrefundable purchases of membership

22  rights in, and the payment of initiation fees to, private

23  equity membership clubs that also levy fees or dues for the

24  use of facilities owned or operated by such clubs are exempt

25  from the tax imposed by this chapter.

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27  Exemptions provided to any entity by this subsection shall not

28  inure to any transaction otherwise taxable under this chapter

29  when payment is made by a representative or employee of such

30  entity by any means, including, but not limited to, cash,

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CODING: Words stricken are deletions; words underlined are additions.






    Florida House of Representatives - 1999                HB 1119

    285-169-99






  1  check, or credit card even when that representative or

  2  employee is subsequently reimbursed by such entity.

  3         Section 2.  This act shall take effect July 1, 1999.

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  6                          HOUSE SUMMARY

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      Provides a sales tax exemption for purchase of membership
  8    rights in, and payment of initiation fees to, certain
      private equity membership clubs.
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