SENATE AMENDMENT
    Bill No. CS for SB 1176
    Amendment No. ___   Barcode 763450
                            CHAMBER ACTION
              Senate                               House
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       05/02/2003 12:20 PM         .                    
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11  Senator Margolis moved the following amendment:
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13         Senate Amendment (with title amendment) 
14         On page 61, between lines 16 and 17,
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16  insert:  
17         Section 42.  Section 2 of chapter 2001-371, Laws of
18  Florida, is amended to read:
19         Section 2.  Effective July 1, 2004 2003, subsection (2)
20  of section 199.185, Florida Statutes, as amended by this act,
21  is amended to read:
22         199.185  Property exempted from annual and nonrecurring
23  taxes.--
24         (2)  Every natural person is entitled each year to an
25  exemption of the first $250,000 $20,000 of the value of
26  property otherwise subject to the annual tax.  A husband and
27  wife filing jointly shall have an exemption of $500,000
28  $40,000. Every taxpayer that is not a natural person is
29  entitled each year to an exemption of the first $250,000 of
30  the value of property otherwise subject to the tax. Agents and
31  fiduciaries, other than guardians and custodians under a
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    12:16 PM   04/30/03                             s1176c1c-35j02


                                                  SENATE AMENDMENT
    Bill No. CS for SB 1176
    Amendment No. ___   Barcode 763450
 1  gifts-to-minors act, filing as such may not claim this
 2  exemption on behalf of their principals or beneficiaries;
 3  however, if the principal or beneficiary returns the property
 4  held by the agent or fiduciary and is a natural person, the
 5  principal or beneficiary may claim the exemption.  No taxpayer
 6  shall be entitled to more than one exemption under this
 7  subsection.  This exemption shall not apply to that intangible
 8  personal property described in s. 199.023(1)(d).
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10  (Redesignate subsequent sections.)
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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 5, line 4, after the semicolon,
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17  insert:
18         amending s. 2 of ch. 2001-371, Laws of Florida;
19         delaying the effective date of provisions
20         exempting certain property from annual and
21         nonrecurring taxes;
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    12:16 PM   04/30/03                             s1176c1c-35j02