SENATE AMENDMENT
    Bill No. SB 44-C
    Amendment No. ___   Barcode 031530
                            CHAMBER ACTION
              Senate                               House
                                   .                    
                                   .                    
 1                                 .                    
                                   .                    
 2                                 .                    
                                   .                    
 3                                 .                    
                                   .                    
 4  ______________________________________________________________
 5  
 6  
 7  
 8  
 9  
10  ______________________________________________________________
11  Senator Mitchell moved the following amendment:
12  
13         Senate Amendment (with title amendment) 
14         On page 1, line 15, through
15            page 2, line 21, delete those lines
16  
17  and insert:  
18         (2)  Every natural person is entitled each year to an
19  exemption of the first $20,000 $250,000 of the value of
20  property otherwise subject to the annual tax.  A husband and
21  wife filing jointly shall have an exemption of $40,000
22  $500,000. Every taxpayer that is not a natural person is
23  entitled each year to an exemption of the first $250,000 of
24  the value of property otherwise subject to the tax. Agents and
25  fiduciaries, other than guardians and custodians under a
26  gifts-to-minors act, filing as such may not claim this
27  exemption on behalf of their principals or beneficiaries;
28  however, if the principal or beneficiary returns the property
29  held by the agent or fiduciary and is a natural person, the
30  principal or beneficiary may claim the exemption.  No taxpayer
31  shall be entitled to more than one exemption under this
                                  1
    11:43 AM   11/29/01                              s0044Cc-04j01


                                                  SENATE AMENDMENT
    Bill No. SB 44-C
    Amendment No. ___   Barcode 031530
 1  subsection.  This exemption shall not apply to that intangible
 2  personal property described in s. 199.023(1)(d).
 3  Notwithstanding s. 199.032, an annual tax of 2 mills is
 4  imposed on each dollar of the just valuation of all intangible
 5  personal property that has a taxable situs in this state,
 6  except for notes and other obligations for the payment of
 7  money, other than bonds, which are secured by mortgage, deed
 8  of trust, or other lien upon real property situated in the
 9  state. This tax shall be assessed and collected as provided in
10  this chapter.
11  
12  
13  ================ T I T L E   A M E N D M E N T ===============
14  And the title is amended as follows:
15         On page 1, lines 3-5, delete those lines
16  
17  and insert:
18         property; amending s. 199.185, F.S.; decreasing
19         the exemptions under the tax on intangible
20         property; setting the millage rate on the tax
21         on intangible property; authorizing the
22         Department
23  
24  
25  
26  
27  
28  
29  
30  
31  
                                  2
    11:43 AM   11/29/01                              s0044Cc-04j01