Senate Bill 1072

    Florida Senate - 2000                                  SB 1072

    By Senator Horne





    6-695-00                                                See HB

  1                      A bill to be entitled

  2         An act relating to tax administration; amending

  3         s. 220.03, F.S.; updating references to the

  4         Internal Revenue Code for corporate income tax

  5         purposes; providing a retroactive effective

  6         date.

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

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10         Section 1.  Paragraph (n) of subsection (1) and

11  paragraph (c) of subsection (2) of section 220.03, Florida

12  Statutes, are amended to read:

13         220.03  Definitions.--

14         (1)  SPECIFIC TERMS.--When used in this code, and when

15  not otherwise distinctly expressed or manifestly incompatible

16  with the intent thereof, the following terms shall have the

17  following meanings:

18         (n)  "Internal Revenue Code" means the United States

19  Internal Revenue Code of 1986, as amended and in effect on

20  January 1, 2000 1999, except as provided in subsection (3).

21         (2)  DEFINITIONAL RULES.--When used in this code and

22  neither otherwise distinctly expressed nor manifestly

23  incompatible with the intent thereof:

24         (c)  Any term used in this code shall have the same

25  meaning as when used in a comparable context in the Internal

26  Revenue Code and other statutes of the United States relating

27  to federal income taxes, as such code and statutes are in

28  effect on January 1, 2000 1999. However, if subsection (3) is

29  implemented, the meaning of any term shall be taken at the

30  time the term is applied under this code.

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






    Florida Senate - 2000                                  SB 1072
    6-695-00                                                See HB




  1         Section 2.  This act shall take effect upon becoming a

  2  law and operate retroactively to January 1, 2000.

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  5                       LEGISLATIVE SUMMARY

  6    Updates references to the Internal Revenue Code for
      corporate income tax purposes.
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