Senate Bill 2396

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



    Florida Senate - 1999                                  SB 2396

    By Senator Bronson





    18-1602-99

  1                      A bill to be entitled

  2         An act relating to credits against the

  3         corporate income tax; creating s. 220.193,

  4         F.S.; authorizing a credit against the

  5         corporate income tax for expenses related to

  6         qualified pooled and reusable pallets and

  7         container systems; amending s. 220.02, F.S.;

  8         providing for the order of credits against the

  9         tax; providing an effective date.

10

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

12

13         Section 1.  Section 220.193, Florida Statutes, is

14  created to read:

15         220.193  Pooled and reusable pallet and container

16  system tax credits.--

17         (1)  A credit of 50 percent of the expenses related to

18  the use of qualified pooled and reusable pallets and container

19  systems in any taxable year is allowed against the tax imposed

20  by this chapter.

21         (2)  For the purposes of this section, the term:

22         (a)  "Qualified pooled and reusable pallets and

23  container systems" means all wooden and plastic pallets and

24  plastic containers that are leased to manufacturers,

25  distributors, growers, and shippers; reused or refurbished for

26  continued use; and placed in service before January 1, 2007.

27         (b)  "Expenses" means costs associated with the

28  purchase, maintenance, construction, or expansion of a

29  building facility to house the pooled and reusable pallets and

30  container systems; the purchase or maintenance of equipment

31  necessary for the pooled and reusable pallets and container

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    Florida Senate - 1999                                  SB 2396
    18-1602-99




  1  systems; or the purchase or maintenance of equipment necessary

  2  for the shipment and movement of the pooled and reusable

  3  pallets and container systems.

  4         Section 2.  Subsection (10) of section 220.02, Florida

  5  Statutes, 1998 Supplement, is amended to read:

  6         220.02  Legislative intent.--

  7         (10)  It is the intent of the Legislature that credits

  8  against either the corporate income tax or the franchise tax

  9  be applied in the following order: those enumerated in s.

10  220.68, those enumerated in s. 220.18, those enumerated in s.

11  631.828, those enumerated in s. 220.191, those enumerated in

12  s. 220.181, those enumerated in s. 220.183, those enumerated

13  in s. 220.182, those enumerated in s. 220.1895, those

14  enumerated in s. 221.02, those enumerated in s. 220.184, those

15  enumerated in s. 220.186, those enumerated in s. 220.188,

16  those enumerated in s. 220.1845, and those enumerated in s.

17  220.19, and those enumerated in s. 220.193.

18         Section 3.  Effective July 1, 2000, subsection (10) of

19  section 220.02, Florida Statutes, 1998 Supplement, as amended

20  by section 11 of chapter 98-132, Laws of Florida, is amended

21  to read:

22         220.02  Legislative intent.--

23         (10)  It is the intent of the Legislature that credits

24  against either the corporate income tax or the franchise tax

25  be applied in the following order: those enumerated in s.

26  220.18, those enumerated in s. 631.828, those enumerated in s.

27  220.191, those enumerated in s. 220.181, those enumerated in

28  s. 220.183, those enumerated in s. 220.182, those enumerated

29  in s. 220.1895, those enumerated in s. 221.02, those

30  enumerated in s. 220.184, those enumerated in s. 220.186,

31  those enumerated in s. 220.188, those enumerated in s.

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    Florida Senate - 1999                                  SB 2396
    18-1602-99




  1  220.1845, and those enumerated in s. 220.19, and those

  2  enumerated in s. 220.193.

  3         Section 4.  This act shall take effect July 1, 1999.

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  6                          SENATE SUMMARY

  7    Authorizes a credit against the corporate income tax for
      expenses related to the use of qualified pooled and
  8    reusable pallets and container systems.

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