Senate Bill 0238

    Florida Senate - 2000                                   SB 238

    By Senator Horne





    6-230-00

  1                      A bill to be entitled

  2         An act relating to taxes on intangible personal

  3         property; amending s. 199.292, F.S.; changing

  4         the disposition of revenues derived from the

  5         nonrecurring tax; deleting obsolete provisions;

  6         providing an effective date.

  7

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

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10         Section 1.  Section 199.292, Florida Statutes, is

11  amended to read:

12         199.292  Disposition of intangible personal property

13  taxes.--All intangible personal property taxes collected

14  pursuant to this chapter shall be placed in a special fund

15  designated as the "Intangible Tax Trust Fund." The fund shall

16  be disbursed as follows:

17         (1)  Revenues derived from the annual tax on a

18  leasehold described in s. 199.023(1)(d) shall be returned to

19  the local school board for the county in which the property

20  subject to the leasehold is situated.

21         (2)  Sixty-two and three-tenths percent of revenues

22  derived from the nonrecurring tax described in s. 199.133

23  shall be transferred to the Public Education Capital Outlay

24  and Debt Service Trust Fund and used only as provided in s.

25  9(a), Art. XII of the State Constitution. Thirty-seven and

26  seven-tenths percent of revenues derived from the nonrecurring

27  tax described in s. 199.133 shall be transferred to the

28  Revenue Sharing Trust Fund for Counties.

29         (3)(2)  There is hereby appropriated annually out of

30  the fund the amount necessary for the effective and efficient

31  administration and enforcement by the department of the

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






    Florida Senate - 2000                                   SB 238
    6-230-00




  1  provisions of chapters 192, 193, 194, 195, 196, 197, and 198

  2  and this chapter.

  3         (4)(3)  Of the remaining intangible personal property

  4  taxes collected, an amount equal to 35.3 percent in state

  5  fiscal year 1998-1999 and an amount equal to 37.7 percent in

  6  each year thereafter, shall be transferred to the Revenue

  7  Sharing Trust Fund for Counties. Of the remaining taxes

  8  collected, an amount equal to 64.7 percent in state fiscal

  9  year 1998-1999 and an amount equal to 62.3 percent in each

10  year thereafter, shall be transferred to the General Revenue

11  Fund of the state.

12         Section 2.  This act shall take effect January 1, 2000.

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15                          SENATE SUMMARY

16    Changes the disposition of revenues derived from the
      nonrecurring tax on intangible personal property. Deletes
17    provisions relating to the distribution of certain
      revenues from intangible personal property during fiscal
18    years that have already passed.

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