SENATE AMENDMENT
    Bill No. SB 4-A
    Amendment No. ___   Barcode 105910
                            CHAMBER ACTION
              Senate                               House
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       05/16/2003 03:39 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 45, between lines 7 and 8,
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16  insert:  
17         Section 43.  In order to implement Specific
18  Appropriations 123-128 of the 2003-2004 General Appropriations
19  Act, section 2 of chapter 2001-371, Laws of Florida, is
20  amended to read:
21         Section 2.  Effective July 1, 2004 2003, subsection (2)
22  of section 199.185, Florida Statutes, as amended by this act,
23  is amended to read:
24         199.185  Property exempted from annual and nonrecurring
25  taxes.--
26         (2)  Every natural person is entitled each year to an
27  exemption of the first $250,000 $20,000 of the value of
28  property otherwise subject to the annual tax.  A husband and
29  wife filing jointly shall have an exemption of $500,000
30  $40,000. Every taxpayer that is not a natural person is
31  entitled each year to an exemption of the first $250,000 of
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    10:20 AM   05/16/03                              s0004Ac-35102


                                                  SENATE AMENDMENT
    Bill No. SB 4-A
    Amendment No. ___   Barcode 105910
 1  the value of property otherwise subject to the tax. Agents and
 2  fiduciaries, other than guardians and custodians under a
 3  gifts-to-minors act, filing as such may not claim this
 4  exemption on behalf of their principals or beneficiaries;
 5  however, if the principal or beneficiary returns the property
 6  held by the agent or fiduciary and is a natural person, the
 7  principal or beneficiary may claim the exemption.  No taxpayer
 8  shall be entitled to more than one exemption under this
 9  subsection.  This exemption shall not apply to that intangible
10  personal property described in s. 199.023(1)(d).
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12  (Redesignate subsequent sections.)
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15  ================ T I T L E   A M E N D M E N T ===============
16  And the title is amended as follows:
17         On page 6, line 10, after the semicolon
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19  insert:
20         amending s. 2 of ch. 2001-371, Laws of Florida;
21         delaying the effective date of provisions
22         exempting certain property from annual and
23         nonrecurring taxes;
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    10:20 AM   05/16/03                              s0004Ac-35102