| 1 | Representative Ryan offered the following: |
| 2 |
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| 3 | Amendment (with title amendment) |
| 4 | Remove line(s) 46-63, and insert: |
| 5 | Section 1. Subsection (2) of section 199.185, Florida |
| 6 | Statutes, is amended to read: |
| 7 | 199.185 Property exempted from annual and nonrecurring |
| 8 | taxes.-- |
| 9 | (2) Every natural person is entitled each year to an |
| 10 | exemption of the first $500,000 $250,000 of the value of |
| 11 | property otherwise subject to the annual tax. A husband and wife |
| 12 | filing jointly shall have an exemption of $1 million $500,000. |
| 13 | Every taxpayer that is not a natural person is entitled each |
| 14 | year to an exemption of the first $500,000 $250,000 of the value |
| 15 | of property otherwise subject to the tax. Agents and |
| 16 | fiduciaries, other than guardians and custodians under a gifts- |
| 17 | to-minors act, filing as such may not claim this exemption on |
| 18 | behalf of their principals or beneficiaries; however, if the |
| 19 | principal or beneficiary returns the property held by the agent |
| 20 | or fiduciary and is a natural person, the principal or |
| 21 | beneficiary may claim the exemption. No taxpayer shall be |
| 22 | entitled to more than one exemption under this subsection. This |
| 23 | exemption shall not apply to that intangible personal property |
| 24 | described in s. 199.023(1)(d). |
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| 26 |
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| 27 | ================ T I T L E A M E N D M E N T ============= |
| 28 | Remove line(s) 7-9, and insert: |
| 29 | tax; amending s. 199.185, F.S.; increasing the exempt value of |
| 30 | property subject to the tax; providing an effective date. |