Senate Bill sb0262

    Florida Senate - 2003                                   SB 262

    By Senator Geller





    31-196-03

  1                      A bill to be entitled

  2         An act relating to recordkeeping concerning

  3         property owned by local governments; amending

  4         s. 274.02, F.S.; revising a definition to

  5         increase the monetary value of fixtures and

  6         tangible personal property that must be

  7         included in an inventory of property; providing

  8         an effective date.

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

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12         Section 1.  Subsection (1) of section 274.02, Florida

13  Statutes, is amended to read:

14         274.02  Record and inventory of certain property.--

15         (1)  The word "property" as used in this section means

16  fixtures and other tangible personal property of a

17  nonconsumable nature the value of which is $1,000 $750 or more

18  and the normal expected life of which is 1 year or more.

19         Section 2.  This act shall take effect July 1, 2003.

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22                          SENATE SUMMARY

23    Revises the definition of the term "property" for
      purposes of inventory and recordkeeping by local
24    governmental entities.

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