Senate Bill 0098
CODING: Words stricken are deletions; words underlined are additions.
Florida Senate - 1999 SB 98
By Senator Grant
13-315-99
1 A bill to be entitled
2 An act relating to taxation of intangible
3 property; amending s. 199.185, F.S.; providing
4 an exemption for certain intangible personal
5 property; providing an effective date.
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7 Be It Enacted by the Legislature of the State of Florida:
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9 Section 1. Paragraph (n) is added to subsection (1) of
10 section 199.185, Florida Statutes, 1998 Supplement, to read:
11 199.185 Property exempted from annual and nonrecurring
12 taxes.--
13 (1) The following intangible personal property shall
14 be exempt from the annual and nonrecurring taxes imposed by
15 this chapter:
16 (n) Intangible assets equal to the statutory legal
17 reserves of life insurance products maintained by insurance
18 companies.
19 Section 2. This act shall take effect upon becoming a
20 law.
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23 SENATE SUMMARY
24 Exempts intangible assets equal to the statutory legal
reserves of life insurance products maintained by
25 insurance companies from the intangible personal property
tax.
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