Senate Bill 1552

    Florida Senate - 2000                                  SB 1552

    By Senator Grant





    13-1118-00

  1                      A bill to be entitled

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

  3         other transactions; amending s. 212.052, F.S.;

  4         repealing a provision that applies the tax to

  5         the purchase, rental, or repair of real

  6         property or tangible personal property employed

  7         in research and development; providing an

  8         effective date.

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

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12         Section 1.  Subsection (2) of section 212.052, Florida

13  Statutes, is amended to read:

14         212.052  Research or development costs; exemption.--

15         (2)  Notwithstanding any provision of this chapter to

16  the contrary, any person, including an affiliated group as

17  defined in s. 1504 of the Internal Revenue Code of 1954, as

18  amended, who manufactures, produces, compounds, processes, or

19  fabricates in any manner tangible personal property for such

20  taxpayer's own use directly and solely in research or

21  development shall not be subject to the tax imposed by this

22  chapter upon the cost of the product so manufactured,

23  produced, compounded, processed, or fabricated. However, the

24  tax imposed by this chapter shall be due on the purchase,

25  rental, or repair of real property or tangible personal

26  property employed in research or development which is subject

27  to the tax imposed by this chapter at the time of purchase or

28  rental.

29         Section 2.  This act shall take effect July 1, 2000.

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






    Florida Senate - 2000                                  SB 1552
    13-1118-00




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  2                          SENATE SUMMARY

  3    Repeals a provision of s. 212.052, F.S., which applies
      the tax on sales, use, and other transactions to the
  4    purchase, rental, or repair of real property or tangible
      personal property employed in research or development.
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