House Bill hb0021

    Florida House of Representatives - 2001                  HB 21

        By Representative Fasano






  1                      A bill to be entitled

  2         An act relating to intangible personal property

  3         taxes; amending s. 199.032, F.S.; reducing the

  4         rate of the annual tax; amending s. 199.033,

  5         F.S.; reducing the rates of the tax on

  6         securities in a Florida's Future Investment

  7         Fund, to conform; providing an effective date.

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

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11         Section 1.  Section 199.032, Florida Statutes, is

12  amended to read:

13         199.032  Levy of annual tax.--An annual tax of .50 1

14  mill is imposed on each dollar of the just valuation of all

15  intangible personal property that has a taxable situs in this

16  state, except for notes and other obligations for the payment

17  of money, other than bonds, which are secured by mortgage,

18  deed of trust, or other lien upon real property situated in

19  the state. This tax shall be assessed and collected as

20  provided in this chapter.

21         Section 2.  Subsection (1) of section 199.033, Florida

22  Statutes, is amended to read:

23         199.033  Securities in a Florida's Future Investment

24  Fund; tax rate.--

25         (1)  Notwithstanding the provisions of this chapter,

26  the tax imposed under s. 199.032 on securities in a Florida's

27  Future Investment Fund shall apply at the rate of .43 .85 mill

28  when the average daily balance in such funds exceeds $2

29  billion and at the rate of .35 .70 mill when the average daily

30  balance in such funds exceeds $5 billion.

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    Florida House of Representatives - 2001                  HB 21

    565-189-01






  1         Section 3.  This act shall take effect January 1, 2002,

  2  and shall apply to tax years beginning on or after that date.

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  5                          HOUSE SUMMARY

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      Reduces the rate of the annual intangible personal
  7    property tax from 1 mill to .5 mill.

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