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





                                                   HOUSE AMENDMENT

    589-161AX-05                          Bill No. CS/HBs 67 & 187

    Amendment No.     (for drafter's use only)

                            CHAMBER ACTION
              Senate                               House
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 2                                 .
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 3                                 .
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 4                                                                

 5                                           ORIGINAL STAMP BELOW

 6

 7

 8

 9

10                                                                

11  Representative(s) Wiles and Suarez offered the following:

12

13         Amendment (with title amendment) 

14  Remove from the bill:  everything after the enacting clause

15

16  and insert in lieu thereof:

17         Section 1.  (1)  Subsection (7) of section 199.023,

18  Florida Statutes, is amended to read:

19         199.023  Definitions.--As used in this chapter:

20         (7)  A resident has a "beneficial interest" in a

21  foreign trust if the resident has a vested interest, even if

22  subject to divestment, which includes at least a current right

23  to income and either a power to revoke the trust or a general

24  power of appointment, as defined in 26 U.S.C. s. 2041(b)(1).

25         (2)  This section is effective for tax years beginning

26  after December 31, 2000.

27         Section 2.  (1)  Subsections (5), (6), (9), and (15) of

28  section 199.052, Florida Statutes, are amended to read:

29         199.052  Annual tax returns; payment of annual tax.--

30         (5)  The trustee of a Florida-situs trust is not

31  primarily responsible for returning the trust's intangible

                                  1

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                                                   HOUSE AMENDMENT

    589-161AX-05                          Bill No. CS/HBs 67 & 187

    Amendment No.     (for drafter's use only)





 1  personal property and is not required to pay any paying the

 2  annual tax on it,.

 3         (a)  A trust has a Florida situs when:

 4         1.  All trustees are residents of the state;

 5         2.  There are three or more trustees sharing equally in

 6  the ownership, management, or control of the trust's

 7  intangible property, and the majority of the trustees are

 8  residents of this state; or

 9         3.  Trustees consist of both residents and nonresidents

10  and management or control of the trust is with a resident

11  trustee.

12         (b)  When trustees consist of both residents and

13  nonresidents and management or control is with a nonresident

14  trustee, the trust does not have Florida situs and no return

15  is necessary by any resident trustee.

16         (c)  A portion of the trust has Florida situs when

17  there are two trustees, one a resident of this state and one a

18  nonresident, and they share equally in the ownership,

19  management, or control of the trust's intangible property. The

20  tax on such property shall be based on the value apportioned

21  between them.

22         (d)  If there is more than one trustee in the state,

23  only one tax return for the trust must be filed.

24         (e)  The trust's beneficiaries, however, may

25  individually return their equitable shares of the trust's

26  intangible personal property and pay the tax on such shares,

27  in which case the trustee need not return such property or pay

28  such tax, although the department may require the trustee to

29  file an informational return.

30         (6)  Each Florida resident with a beneficial interest,

31  as defined in s. 199.023(7), in a foreign-situs trust, that

                                  2

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                                                   HOUSE AMENDMENT

    589-161AX-05                          Bill No. CS/HBs 67 & 187

    Amendment No.     (for drafter's use only)





 1  is, a trust with situs outside of this state, is primarily

 2  responsible for returning the resident's equitable share of

 3  the trust's intangible personal property and paying the annual

 4  tax on it.  The trustee of a foreign trust may return and pay

 5  the tax on the equitable shares of all Florida residents

 6  having beneficial interests, in which case the residents need

 7  not return such property or pay such tax.

 8         (9)  Where an agent other than a trustee has control or

 9  management of intangible personal property, the principal is

10  primarily responsible for returning such property and paying

11  the annual tax on it, but the agent shall return such property

12  on behalf of the principal and pay the annual tax on it if the

13  principal fails to do so.  The department may in any case

14  require the agent to file an informational return.

15         (15)  If a bank or savings association, as defined in

16  s. 220.62, acts as a fiduciary or agent of a trust other than

17  as a trustee, the bank or savings association is not

18  responsible for returning the trust's intangible personal

19  property and is not required to pay any annual tax on it, and

20  intangible personal property of the trust shall not have

21  taxable situs in this state pursuant to s. 199.175 solely by

22  virtue of the management or control of the bank or savings

23  association shall not be used as the basis for imposing any

24  annual tax on any person or any assets of the trust. If a

25  person acts as a fiduciary or agent for purposes of managing

26  intangible assets owned by another person, such intangible

27  assets shall not have a taxable situs in this state pursuant

28  to s. 199.175 solely by virtue of the management or control of

29  such assets by the person who is not the owner of the assets.

30         (2)  This section is effective for tax years beginning

31  after December 31, 2000.

                                  3

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                                                   HOUSE AMENDMENT

    589-161AX-05                          Bill No. CS/HBs 67 & 187

    Amendment No.     (for drafter's use only)





 1         Section 3.  (1)  Paragraph (a) of subsection (1) of

 2  section 199.175, Florida Statutes, is amended to read:

 3         199.175  Taxable situs.--For purposes of the annual tax

 4  imposed under this chapter:

 5         (1)  Intangible personal property shall have a taxable

 6  situs in this state when it is owned, managed, or controlled

 7  by any person domiciled in this state on January 1 of the tax

 8  year.  Such intangibles shall be subject to annual taxation

 9  under this chapter, unless the person who owns, manages, or

10  controls them is specifically exempt or unless the property is

11  specifically exempt. This provision shall apply regardless of

12  where the evidence of the intangible property is kept; where

13  the intangible is created, approved, or paid; or where

14  business may be conducted from which the intangible arises.

15  The fact that a Florida corporation owns the stock of an

16  out-of-state corporation and manages and controls such

17  corporation from a location in this state shall not operate to

18  give a taxable situs in this state to the intangibles owned by

19  the out-of-state corporation, which intangibles arise out of

20  business transacted outside this state.

21         (a)  For the purposes of this chapter, "any person

22  domiciled in this state" means:

23         1.  Any natural person who is a legal resident of this

24  state;

25         2.  Any bank or financial institution, business,

26  business trust as described in chapter 609, company,

27  corporation, insurance company, partnership, or other

28  artificial entity organized or created under the law of this

29  state, except a trust; or

30         3.  Any person, including a business trust, who has

31  established a commercial domicile in this state.

                                  4

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                                                   HOUSE AMENDMENT

    589-161AX-05                          Bill No. CS/HBs 67 & 187

    Amendment No.     (for drafter's use only)





 1         (2)  This section is effective for tax years beginning

 2  after December 31, 2000.

 3         Section 4.  (1)  Subsection (4) is added to section

 4  199.183, Florida Statutes, to read:

 5         199.183  Taxpayers exempt from annual and nonrecurring

 6  taxes.--

 7         (4)  Intangible personal property that is owned,

 8  managed, or controlled by a trustee of a trust is exempt from

 9  annual tax under this chapter. This exemption does not exempt

10  from annual tax a resident of this state who has a taxable

11  beneficial interest, as defined in s. 199.023, in a trust.

12         (2)  This section is effective for tax years beginning

13  after December 31, 2000.

14         Section 5.  (1)  Paragraph (l) of subsection (1) and

15  subsection (2) of section 199.185, Florida Statutes, are

16  amended to read:

17         199.185  Property exempted from annual and nonrecurring

18  taxes.--

19         (1)  The following intangible personal property shall

20  be exempt from the annual and nonrecurring taxes imposed by

21  this chapter:

22         (l)  All Two-thirds of the accounts receivable arising

23  or acquired in the ordinary course of a trade or business

24  which are owned, controlled, or managed by a taxpayer on

25  January 1, 2000, and thereafter. It is the intent of the

26  Legislature that, pursuant to future legislative action, the

27  portion of such accounts receivable exempt from taxation be

28  increased to all such accounts receivable on January 1, 2001,

29  and thereafter. This exemption does not apply to accounts

30  receivable that arise outside the taxpayer's ordinary course

31  of trade or business. For the purposes of this chapter, the

                                  5

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                                                   HOUSE AMENDMENT

    589-161AX-05                          Bill No. CS/HBs 67 & 187

    Amendment No.     (for drafter's use only)





 1  term "accounts receivable" means a business debt that is owed

 2  by another to the taxpayer or the taxpayer's assignee in the

 3  ordinary course of trade or business and is not supported by

 4  negotiable instruments. Accounts receivable include, but are

 5  not limited to, credit card receivables, charge card

 6  receivables, credit receivables, margin receivables, inventory

 7  or other floor plan financing, lease payments past due,

 8  conditional sales contracts, retail installment sales

 9  agreements, financing lease contracts, and a claim against a

10  debtor usually arising from sales or services rendered and

11  which is not necessarily due or past due. The examples

12  specified in this paragraph shall be deemed not to be

13  supported by negotiable instruments. The term "negotiable

14  instrument" means a written document that is legally capable

15  of being transferred by indorsement or delivery. The term

16  "indorsement" means the act of a payee or holder in writing

17  his or her name on the back of an instrument without further

18  qualifying words other than "pay to the order of" or "pay to"

19  whereby the property is assigned and transferred to another.

20         (2)(a)  With respect to the first mill of the annual

21  tax, Every natural person is entitled each year to an

22  exemption of the first $200,000 $20,000 of the value of

23  property otherwise subject to the annual said tax.  A husband

24  and wife filing jointly shall have an exemption of $400,000

25  $40,000.

26         (b)  With respect to the last 0.5 mill of the annual

27  tax, every natural person is entitled each year to an

28  exemption of the first $100,000 of the value of property

29  otherwise subject to said tax. A husband and wife filing

30  jointly shall have an exemption of $200,000.

31

                                  6

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                                                   HOUSE AMENDMENT

    589-161AX-05                          Bill No. CS/HBs 67 & 187

    Amendment No.     (for drafter's use only)





 1  Agents and fiduciaries, other than guardians and custodians

 2  under a gifts-to-minors act, filing as such may not claim this

 3  exemption on behalf of their principals or beneficiaries;

 4  however, if the principal or beneficiary returns the property

 5  held by the agent or fiduciary and is a natural person, the

 6  principal or beneficiary may claim the exemption.  No taxpayer

 7  shall be entitled to more than one exemption under this

 8  subsection paragraph (a) and one exemption under paragraph

 9  (b).  This exemption shall not apply to that intangible

10  personal property described in s. 199.023(1)(d).

11         (2)  This section is effective for tax years beginning

12  after December 31, 2000.

13         Section 6.  It is the intent of the Legislature to

14  eliminate the intangible personal property tax by increasing

15  the standard exemption in order to remove additional

16  individuals, families, and small business from the tax rolls

17  each year.

18         Section 7.  Subsection (3) of section 199.292, Florida

19  Statutes, is amended to read:

20         199.292  Disposition of intangible personal property

21  taxes.--All intangible personal property taxes collected

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

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

24  be disbursed as follows:

25         (3)  Of the remaining intangible personal property

26  taxes collected, the balance an amount equal to 35.3 percent

27  in state fiscal year 1998-1999 and an amount equal to 37.7

28  percent in each year thereafter, shall be transferred to the

29  Revenue Sharing Trust Fund for Counties. Of the remaining

30  taxes collected, an amount equal to 64.7 percent in state

31  fiscal year 1998-1999 and an amount equal to 62.3 percent in

                                  7

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                                                   HOUSE AMENDMENT

    589-161AX-05                          Bill No. CS/HBs 67 & 187

    Amendment No.     (for drafter's use only)





 1  each year thereafter, shall be transferred to the General

 2  Revenue Fund of the state.

 3         Section 8.  Paragraph (f) of subsection (6) of section

 4  212.20, Florida Statutes, is amended to read:

 5         212.20  Funds collected, disposition; additional powers

 6  of department; operational expense; refund of taxes

 7  adjudicated unconstitutionally collected.--

 8         (6)  Distribution of all proceeds under this chapter

 9  shall be as follows:

10         (f)  The proceeds of all other taxes and fees imposed

11  pursuant to this chapter shall be distributed as follows:

12         1.  In any fiscal year, the greater of $500 million,

13  minus an amount equal to 4.6 percent of the proceeds of the

14  taxes collected pursuant to chapter 201, or 5 percent of all

15  other taxes and fees imposed pursuant to this chapter shall be

16  deposited in monthly installments into the General Revenue

17  Fund.

18         2.  Two-tenths of one percent shall be transferred to

19  the Solid Waste Management Trust Fund.

20         3.  After the distribution under subparagraphs 1. and

21  2., 9.653 percent of the amount remitted by a sales tax dealer

22  located within a participating county pursuant to s. 218.61

23  shall be transferred into the Local Government Half-cent Sales

24  Tax Clearing Trust Fund.

25         4.  After the distribution under subparagraphs 1., 2.,

26  and 3., 0.054 percent shall be transferred to the Local

27  Government Half-cent Sales Tax Clearing Trust Fund and

28  distributed pursuant to s. 218.65.

29         5.  For proceeds received after July 1, 2000, and after

30  the distributions under subparagraphs 1., 2., 3., and 4., 2.25

31  percent of the available proceeds pursuant to this paragraph

                                  8

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                                                   HOUSE AMENDMENT

    589-161AX-05                          Bill No. CS/HBs 67 & 187

    Amendment No.     (for drafter's use only)





 1  shall be transferred monthly to the Revenue Sharing Trust Fund

 2  for Counties pursuant to s. 218.215.

 3         6.5.  Of the remaining proceeds:

 4         a.  Beginning July 1, 1992, $166,667 shall be

 5  distributed monthly by the department to each applicant that

 6  has been certified as a "facility for a new professional

 7  sports franchise" or a "facility for a retained professional

 8  sports franchise" pursuant to s. 288.1162 and $41,667 shall be

 9  distributed monthly by the department to each applicant that

10  has been certified as a "new spring training franchise

11  facility" pursuant to s. 288.1162. Distributions shall begin

12  60 days following such certification and shall continue for 30

13  years. Nothing contained herein shall be construed to allow an

14  applicant certified pursuant to s. 288.1162 to receive more in

15  distributions than actually expended by the applicant for the

16  public purposes provided for in s. 288.1162(7). However, a

17  certified applicant shall receive distributions up to the

18  maximum amount allowable and undistributed under this section

19  for additional renovations and improvements to the facility

20  for the franchise without additional certification.

21         b.  Beginning 30 days after notice by the Office of

22  Tourism, Trade, and Economic Development to the Department of

23  Revenue that an applicant has been certified as the

24  professional golf hall of fame pursuant to s. 288.1168 and is

25  open to the public, $166,667 shall be distributed monthly, for

26  up to 300 months, to the applicant.

27         c.  Beginning 30 days after notice by the Department of

28  Commerce to the Department of Revenue that the applicant has

29  been certified as the International Game Fish Association

30  World Center facility pursuant to s. 288.1169, and the

31  facility is open to the public, $83,333 shall be distributed

                                  9

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                                                   HOUSE AMENDMENT

    589-161AX-05                          Bill No. CS/HBs 67 & 187

    Amendment No.     (for drafter's use only)





 1  monthly, for up to 180 months, to the applicant.  This

 2  distribution is subject to reduction pursuant to s. 288.1169.

 3         7.6.  All other proceeds shall remain with the General

 4  Revenue Fund.

 5         Section 9.  Section 218.23, Florida Statutes, is

 6  amended to read:

 7         218.23  Revenue sharing with units of local

 8  government.--

 9         (1)  To be eligible to participate in revenue sharing

10  beyond the minimum entitlement in any fiscal year, a unit of

11  local government is required to have:

12         (a)  Reported its finances for its most recently

13  completed fiscal year to the Department of Banking and

14  Finance, pursuant to s. 218.32.

15         (b)  Made provisions for annual postaudits of its

16  financial accounts in accordance with provisions of law.

17         (c)  Levied, as shown on its most recent financial

18  report pursuant to s. 218.32, ad valorem taxes, exclusive of

19  taxes levied for debt service or other special millages

20  authorized by the voters, to produce the revenue equivalent to

21  a millage rate of 3 mills on the dollar based on the 1973

22  taxable values as certified by the property appraiser pursuant

23  to s. 193.122(2) or, in order to produce revenue equivalent to

24  that which would otherwise be produced by such 3-mill ad

25  valorem tax, to have received a remittance from the county

26  pursuant to s. 125.01(6)(a), collected an occupational license

27  tax or a utility tax, levied an ad valorem tax, or received

28  revenue from any combination of these four sources.  If a new

29  municipality is incorporated, the provisions of this paragraph

30  shall apply to the taxable values for the year of

31  incorporation as certified by the property appraiser. This

                                  10

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                                                   HOUSE AMENDMENT

    589-161AX-05                          Bill No. CS/HBs 67 & 187

    Amendment No.     (for drafter's use only)





 1  paragraph requires only a minimum amount of revenue to be

 2  raised from the ad valorem tax, the occupational license tax,

 3  and the utility tax.  It does not require a minimum millage

 4  rate.

 5         (d)  Certified that persons in its employ as law

 6  enforcement officers, as defined in s. 943.10(1), meet the

 7  qualifications for employment as established by the Criminal

 8  Justice Standards and Training Commission; that its salary

 9  structure and salary plans meet the provisions of chapter 943;

10  and that no law enforcement officer is compensated for his or

11  her services at an annual salary rate of less than $6,000.

12  However, the department may waive the minimum law enforcement

13  officer salary requirement if a city or county certifies that

14  it is levying ad valorem taxes at 10 mills.

15         (e)  Certified that persons in its employ as

16  firefighters, as defined in s. 633.30(1), meet the

17  qualification for employment as established by the Division of

18  State Fire Marshal pursuant to the provisions of ss. 633.34

19  and 633.35 and that the provisions of s. 633.382 have been

20  met.

21         (f)  Certified that each dependent special district

22  that is budgeted separately from the general budget of the

23  local governing authority has met the provisions for annual

24  postaudit of its financial accounts in accordance with the

25  provisions of law.

26

27  Additionally, to receive its share of revenue sharing funds, a

28  unit of local government shall certify to the Department of

29  Revenue that the requirements of s. 200.065, if applicable,

30  were met.  The certification shall be made annually within 30

31  days of adoption of an ordinance or resolution establishing a

                                  11

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                                                   HOUSE AMENDMENT

    589-161AX-05                          Bill No. CS/HBs 67 & 187

    Amendment No.     (for drafter's use only)





 1  final property tax levy or, if no property tax is levied, not

 2  later than November 1.  The portion of revenue sharing funds

 3  which, pursuant to this part, would otherwise be distributed

 4  to a unit of local government which has not certified

 5  compliance or has otherwise failed to meet the requirements of

 6  s. 200.065 shall be deposited in the General Revenue Fund for

 7  the 12 months following a determination of noncompliance by

 8  the department.

 9         (2)  Any unit of local government which is consolidated

10  as provided by s. 9, Art. VIII of the State Constitution of

11  1885, as preserved by s. 6(e), Art. VIII of the 1968 revised

12  constitution, shall receive an annual distribution from the

13  Revenue Sharing Trust Fund for Counties equal to $6.24 times

14  its population.

15         (3)(2)  The distribution to a unit of local government

16  under this part is determined by the following formula:

17         (a)  First, the entitlement of an eligible unit of

18  local government shall be computed on the basis of the

19  apportionment factor provided in s. 218.245, which shall be

20  applied for all eligible units of local government to all

21  receipts available for distribution in the respective revenue

22  sharing trust fund.

23         (b)  Second, revenue shared with eligible units of

24  local government for any fiscal year shall be adjusted so that

25  no eligible unit of local government receives less funds than

26  its guaranteed entitlement.

27         (c)  Third, revenues shared with counties for any

28  fiscal year shall be adjusted so that no county receives less

29  funds than its guaranteed entitlement plus the second

30  guaranteed entitlement for counties.

31         (d)  Fourth, revenue shared with units of local

                                  12

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                                                   HOUSE AMENDMENT

    589-161AX-05                          Bill No. CS/HBs 67 & 187

    Amendment No.     (for drafter's use only)





 1  government for any fiscal year shall be adjusted so that no

 2  unit of local government receives less funds than its minimum

 3  entitlement.

 4         (e)  Fifth, after the adjustments provided in

 5  paragraphs (b), (c), and (d), and after deducting the amount

 6  committed to all the units of local government, the funds

 7  remaining in the respective trust funds shall be distributed

 8  to those eligible units of local government which qualify to

 9  receive additional moneys beyond the guaranteed entitlement,

10  on the basis of the additional money of each qualified unit of

11  local government in proportion to the total additional money

12  of all qualified units of local government.

13         (4)(3)  Notwithstanding the provisions of paragraph

14  (1)(c), no unit of local government which was eligible to

15  participate in revenue sharing in the 3 years prior to

16  initially participating in the local government half-cent

17  sales tax shall be ineligible to participate in revenue

18  sharing solely due to a millage or utility tax reduction

19  afforded by the local government half-cent sales tax.

20         Section 10.  Subsection (6) of section 288.1169,

21  Florida Statutes, is amended to read:

22         288.1169  International Game Fish Association World

23  Center facility; department duties.--

24         (6)  The Department of Commerce must recertify every 10

25  years that the facility is open, that the International Game

26  Fish Association World Center continues to be the only

27  international administrative headquarters, fishing museum, and

28  Hall of Fame in the United States recognized by the

29  International Game Fish Association, and that the project is

30  meeting the minimum projections for attendance or sales tax

31  revenues as required at the time of original certification.

                                  13

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                                                   HOUSE AMENDMENT

    589-161AX-05                          Bill No. CS/HBs 67 & 187

    Amendment No.     (for drafter's use only)





 1  If the facility is not recertified during this 10-year review

 2  as meeting the minimum projections, then funding will be

 3  abated until certification criteria are met.  If the project

 4  fails to generate $1 million of annual revenues pursuant to

 5  paragraph (2)(e), the distribution of revenues pursuant to s.

 6  212.20(6)(f)6.5.c. shall be reduced to an amount equal to

 7  $83,333 multiplied by a fraction, the numerator of which is

 8  the actual revenues generated and the denominator of which is

 9  $1 million.  Such reduction shall remain in effect until

10  revenues generated by the project in a 12-month period equal

11  or exceed $1 million.

12         Section 11.  This act shall take effect July 1, 2000.

13

14

15  ================ T I T L E   A M E N D M E N T ===============

16  And the title is amended as follows:

17  Remove from the title of the bill:  the entire title

18

19  and insert in lieu thereof:

20                      A bill to be entitled

21         An act relating to taxation; amending s.

22         199.023, F.S.; revising the definition of a

23         "beneficial interest" in a trust for intangible

24         personal property tax purposes; amending s.

25         199.052, F.S.; providing that a trustee is not

26         responsible for returns and is not required to

27         pay annual tax on trust property; providing

28         that a Florida resident with a beneficial

29         interest in a trust is responsible for returns

30         and payment of tax for his or her equitable

31         share; revising provisions relating to the

                                  14

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                                                   HOUSE AMENDMENT

    589-161AX-05                          Bill No. CS/HBs 67 & 187

    Amendment No.     (for drafter's use only)





 1         responsibilities of a bank or savings

 2         association acting as agent of a trust other

 3         than as a trustee and providing that its

 4         management or control shall not be used as a

 5         basis for imposing the annual tax; providing

 6         that intangible assets managed by a fiduciary

 7         or agent shall not have taxable situs in this

 8         state solely by virtue of such management;

 9         amending s. 199.175, F.S.; revising the

10         definition of "any person domiciled in this

11         state"; amending s. 199.183, F.S.; providing

12         that intangible personal property owned,

13         managed, or controlled by a trustee of a trust

14         is exempt from the annual tax; amending s.

15         199.185, F.S.; providing that all accounts

16         receivable are exempt from intangible personal

17         property taxes; revising application of the

18         exemption from the annual tax granted to

19         natural persons and increasing the exemption;

20         providing intent; amending s. 199.292, F.S.;

21         eliminating distribution of a portion of

22         intangible personal property tax revenues to

23         the Revenue Sharing Trust Fund for Counties;

24         amending s. 212.20, F.S.; providing for

25         distribution of a portion of sales and use tax

26         proceeds to the trust fund; amending s. 218.23,

27         F.S.; providing for an annual distribution from

28         the trust fund to certain consolidated units of

29         local government; amending s. 288.1169, F.S.;

30         correcting a reference; providing an effective

31         date.

                                  15

    File original & 9 copies    04/26/00
    hbd0005                     07:38 pm         00067-0020-183667