SENATE AMENDMENT
Bill No. CS for SB 30-B
Amendment No. ___ Barcode 672074
CHAMBER ACTION
Senate House
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11 Senator Latvala moved the following amendment:
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13 Senate Amendment (with title amendment)
14 On page 89, between lines 5 and 6,
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17 Section 33. Effective January 1, 2002, subsection (2)
18 of section 199.185, Florida Statutes, is amended to read:
19 199.185 Property exempted from annual and nonrecurring
20 taxes.--
21 (2) Every natural person is entitled each year to an
22 exemption of the first $20,000 $250,000 of the value of
23 property otherwise subject to the annual tax. A husband and
24 wife filing jointly shall have an exemption of $40,000
25 $500,000. Every taxpayer that is not a natural person is
26 entitled each year to an exemption of the first $250,000 of
27 the value of property otherwise subject to the tax. Agents and
28 fiduciaries, other than guardians and custodians under a
29 gifts-to-minors act, filing as such may not claim this
30 exemption on behalf of their principals or beneficiaries;
31 however, if the principal or beneficiary returns the property
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SENATE AMENDMENT
Bill No. CS for SB 30-B
Amendment No. ___ Barcode 672074
1 held by the agent or fiduciary and is a natural person, the
2 principal or beneficiary may claim the exemption. No taxpayer
3 shall be entitled to more than one exemption under this
4 subsection. This exemption shall not apply to that intangible
5 personal property described in s. 199.023(1)(d).
6 Section 34. Effective January 1, 2004, subsection (2)
7 of section 199.185, Florida Statutes, as amended by this act,
8 is amended to read:
9 199.185 Property exempted from annual and nonrecurring
10 taxes.--
11 (2) Every natural person is entitled each year to an
12 exemption of the first $250,000 $20,000 of the value of
13 property otherwise subject to the annual tax. A husband and
14 wife filing jointly shall have an exemption of $500,000
15 $40,000. Every taxpayer that is not a natural person is
16 entitled each year to an exemption of the first $250,000 of
17 the value of property otherwise subject to the tax. Agents and
18 fiduciaries, other than guardians and custodians under a
19 gifts-to-minors act, filing as such may not claim this
20 exemption on behalf of their principals or beneficiaries;
21 however, if the principal or beneficiary returns the property
22 held by the agent or fiduciary and is a natural person, the
23 principal or beneficiary may claim the exemption. No taxpayer
24 shall be entitled to more than one exemption under this
25 subsection. This exemption shall not apply to that intangible
26 personal property described in s. 199.023(1)(d).
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SENATE AMENDMENT
Bill No. CS for SB 30-B
Amendment No. ___ Barcode 672074
1 ================ T I T L E A M E N D M E N T ===============
2 And the title is amended as follows:
3 On page 7, line 24, after the semicolon,
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5 insert:
6 amending s. 199.185, F.S.; postponing the
7 increase in exemptions under the tax on
8 intangible property;
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