HB 0791

CS

CHAMBER ACTION

1	The Committee on Finance & Tax recommends the following:
2
3	Committee Substitute
4	Remove the entire bill and insert:
5	A bill to be entitled
6	An act relating to the annual intangible personal property
7	tax; amending s. 199.032, F.S.; decreasing the annual
8	intangible personal property tax over a 2-year period;
9	repealing ss. 199.012, 199.023, 199.032, 199.033, 199.042,
10	199.052, 199.057, 199.062, 199.103, 199.1055, 199.106,
11	199.175, and 199.185, F.S., relating to the annual
12	intangible personal property tax; amending s. 199.303,
13	F.S.; providing additional legislative intent; amending ss.
14	192.032, 192.042, 192.091, 193.114, 196.015, 196.199,
15	196.1993, 199.183, 201.23, 212.02, 213.053, 213.054,
16	213.27, 213.31, 215.555, 220.1845, 288.039, 288.1045,
17	288.106, 376.30781, 493.6102, 516.031, 627.311, 627.351,
18	650.05, 655.071, 733.702, and 766.105, F.S., to conform;
19	authorizing the Department of Revenue to adopt certain
20	emergency rules for a certain time; providing effective
21	dates.
22
23	Be It Enacted by the Legislature of the State of Florida:
24
25	Section 1.  Effective  January 1, 2005, section 199.032,
26	Florida Statutes, is amended to read:
27	199.032  Levy of annual tax.--Beginning January 1, 2005, an
28	annual tax of 0.66 1 mill is imposed on each dollar of the just
29	valuation of all intangible personal property that has a taxable
30	situs in this state, except for notes and other obligations for
31	the payment of money, other than bonds, which are secured by
32	mortgage, deed of trust, or other lien upon real property
33	situated in the state. Beginning January 1, 2006, the annual tax
34	imposed by this section shall be 0.33 mill. This tax shall be
35	assessed and collected as provided in this chapter.
36	Section 2.  Sections 199.012, 199.023, 199.032, 199.033,
37	199.042, 199.052, 199.057, 199.062, 199.103, 199.1055, 199.106,
38	199.175, and 199.185, Florida Statutes, are repealed.
39	Section 3.  Subsection (3) is added to section 199.303,
40	Florida Statutes, to read:
41	199.303  Declaration of legislative intent.--
42	(3)  It is hereby declared to be the specific legislative
43	intent that all annual intangible personal property taxes
44	imposed as provided by law, for calendar years 2006 and prior,
45	shall remain in full force and effect during the period
46	specified by s. 95.091, for the year in which the tax was due.
47	It is further the legislative intent that the department
48	continue to assess and collect all taxes due to the state under
49	such provisions for all periods available for assessment, as
50	provided for the year in which tax was due by s. 95.091.
51	Section 4.  Subsections (5), (6), and (7) of section
52	192.032, Florida Statutes, are amended to read:
53	192.032  Situs of property for assessment purposes.--All
54	property shall be assessed according to its situs as follows:
55	(5)  Intangible personal property, according to the rules
56	laid down in chapter 199.
57	(5)(6)(a)  Notwithstanding the provisions of subsection
58	(2), personal property used as a marine cargo container in the
59	conduct of foreign or interstate commerce shall not be deemed to
60	have acquired a taxable situs within a county when the property
61	is temporarily halted or stored within the state for a period
62	not exceeding 180 days.
63	(b)  "Marine cargo container" means a nondisposable
64	receptacle which is of a permanent character, strong enough to
65	be suitable for repeated use; which is specifically designed to
66	facilitate the carriage of goods by one or more modes of
67	transport, one of which shall be by ocean vessel, without
68	intermediate reloading; and which is fitted with devices
69	permitting its ready handling, particularly in the transfer from
70	one transport mode to another. The term "marine cargo container"
71	includes a container when carried on a chassis but does not
72	include a vehicle or packaging.
73	(6)(7)  Notwithstanding any other provision of this
74	section, tangible personal property used in traveling shows such
75	as carnivals, ice shows, or circuses shall be deemed to be
76	physically present or habitually located or typically present
77	only to the extent the value of such property is multiplied by a
78	fraction, the numerator of which is the number of days such
79	property is present in Florida during the taxable year and the
80	denominator of which is the number of days in the taxable year.
81	However, railroad property of such traveling shows shall be
82	taxable under s. 193.085(4)(b) and not under this section.
83	Section 5.  Subsection (3) of section 192.042, Florida
84	Statutes, is amended to read:
85	192.042  Date of assessment.--All property shall be
86	assessed according to its just value as follows:
87	(3)  Intangible personal property, according to the rules
88	laid down in chapter 199.
89	Section 6.  Subsection (5) of section 192.091, Florida
90	Statutes, is amended to read:
91	192.091  Commissions of property appraisers and tax
92	collectors.--
93	(5)  Provided, that the provisions of this section shall
94	not apply to commissions on intangible property taxes or
95	drainage district or drainage subdistrict taxes; and
96	Section 7.  Subsections (4), (5), and (6) of section
97	193.114, Florida Statutes, are amended to read:
98	193.114  Preparation of assessment rolls.--
99	(4)  The department shall promulgate regulations and forms
100	for the preparation of the intangible personal property roll to
101	comply with chapter 199.
102	(4)(5)  For every change made to the assessed or taxable
103	value of a parcel on an assessment roll subsequent to the
104	mailing of the notice provided for in s. 200.069, the property
105	appraiser shall document the reason for such change in the
106	public records of the office of the property appraiser in a
107	manner acceptable to the executive director or the executive
108	director's designee. For every change that decreases the
109	assessed or taxable value of a parcel on an assessment roll
110	between the time of complete submission of the tax roll pursuant
111	to s. 193.1142(3) and mailing of the notice provided for in s.
112	200.069, the property appraiser shall document the reason for
113	such change in the public records of the office of the property
114	appraiser in a manner acceptable to the executive director or
115	the executive director's designee. Changes made by the value
116	adjustment board are not subject to the requirements of this
117	subsection.
118	(5)(6)  For proprietary purposes, including the furnishing
119	or sale of copies of the tax roll under s. 119.07(1), the
120	property appraiser is the custodian of the tax roll and the
121	copies of it which are maintained by any state agency. The
122	department or any state or local agency may use copies of the
123	tax roll received by it for official purposes and shall permit
124	inspection and examination thereof under s. 119.07(1), but is
125	not required to furnish copies of the records. A social security
126	number submitted under s. 196.011(1) is confidential and exempt
127	from s. 24(a), Art. I of the State Constitution and the
128	provisions of s. 119.07(1). A copy of documents containing the
129	numbers furnished or sold by the property appraiser, except a
130	copy furnished to the department, or a copy of documents
131	containing social security numbers provided by the department or
132	any state or local agency for inspection or examination by the
133	public, must exclude those social security numbers.
134	Section 8.  Subsection (9) of section 196.015, Florida
135	Statutes, is amended to read:
136	196.015  Permanent residency; factual determination by
137	property appraiser.--Intention to establish a permanent
138	residence in this state is a factual determination to be made,
139	in the first instance, by the property appraiser. Although any
140	one factor is not conclusive of the establishment or
141	nonestablishment of permanent residence, the following are
142	relevant factors that may be considered by the property
143	appraiser in making his or her determination as to the intent of
144	a person claiming a homestead exemption to establish a permanent
145	residence in this state:
146	(9)  The previous filing of Florida intangible tax returns
147	by the applicant.
148	Section 9.  Paragraph (b) of subsection (2) of section
149	196.199, Florida Statutes, is amended to read:
150	196.199  Government property exemption.--
151	(2)  Property owned by the following governmental units but
152	used by nongovernmental lessees shall only be exempt from
153	taxation under the following conditions:
154	(b)  Except as provided in paragraph (c), the exemption
155	provided by this subsection shall not apply to those portions of
156	a leasehold or other interest defined by s. 199.023(1)(d),
157	subject to the provisions of subsection (7). Such leasehold or
158	other interest shall be taxed only as intangible personal
159	property pursuant to chapter 199 if rental payments are due in
160	consideration of such leasehold or other interest. If no rental
161	payments are due pursuant to the agreement creating such
162	leasehold or other interest, the leasehold or other interest
163	shall be taxed as real property. Nothing in this paragraph shall
164	be deemed to exempt personal property, buildings, or other real
165	property improvements owned by the lessee from ad valorem
166	taxation.
167	Section 10.  Section 196.1993, Florida Statutes, is amended
168	to read:
169	196.1993  Certain agreements with local governments for use
170	of public property; exemption.--Any agreement entered into with
171	a local governmental authority prior to January 1, 1969, for use
172	of public property, under which it was understood and agreed in
173	a written instrument or by special act that no ad valorem real
174	property taxes would be paid by the licensee or lessee, shall be
175	deemed a license or management agreement for the use or
176	management of public property. Such interest shall be deemed not
177	to convey an interest in the property and shall not be subject
178	to ad valorem real property taxation. Nothing in this section
179	shall be deemed to exempt such licensee from the ad valorem
180	intangible tax and the ad valorem personal property tax.
181	Section 11.  Subsection (4) of section 199.183, Florida
182	Statutes, is amended to read:
183	199.183  Taxpayers exempt from annual and nonrecurring
184	taxes.--
185	(4)  Intangible personal property that is owned, managed,
186	or controlled by a trustee of a trust is exempt from annual tax
187	under this chapter. This exemption does not exempt from annual
188	tax a resident of this state who has a taxable beneficial
189	interest, as defined in s. 199.023, in a trust.
190	Section 12.  Subsection (4) of section 201.23, Florida
191	Statutes, is amended to read:
192	201.23  Foreign notes and other written obligations
193	exempt.--
194	(4)(a)  The excise taxes imposed by this chapter shall not
195	apply to the documents, notes, evidences of indebtedness,
196	financing statements, drafts, bills of exchange, or other
197	taxable items dealt with, made, issued, drawn upon, accepted,
198	delivered, shipped, received, signed, executed, assigned,
199	transferred, or sold by or to a banking organization, as defined
200	in s. 199.023(9), in the conduct of an international banking
201	transaction, as defined in s. 199.023(11). Nothing in this
202	paragraph subsection shall be construed to change the
203	application of paragraph (2)(a).
204	(b)  For purposes of this subsection:
205	1.  "Banking organization" means:
206	a.  A bank organized and existing under the laws of this
207	state;
208	b.  A national bank organized and existing pursuant to the
209	provisions of the National Bank Act, 12 U.S.C. ss. 21 et seq.,
210	and maintaining its principal office in this state;
211	c.  An Edge Act corporation organized pursuant to the
212	provisions of s. 25(a) of the Federal Reserve Act, 12 U.S.C. ss.
213	611 et seq., and maintaining an office in this state;
214	d.  An international bank agency licensed pursuant to the
215	laws of this state;
216	e.  A federal agency licensed pursuant to ss. 4 and 5 of
217	the International Banking Act of 1978 to maintain an office in
218	this state;
219	f.  A savings association organized and existing under the
220	laws of this state;
221	g.  A federal association organized and existing pursuant
222	to the provisions of the Home Owners' Loan Act of 1933, 12
223	U.S.C. ss. 1461 et seq., and maintaining its principal office in
224	this state; or
225	h.  A Florida export finance corporation organized and
226	existing pursuant to the provisions of part V of chapter 288.
227	2.  "International banking transaction" means:
228	a.  The financing of the exportation from, or the
229	importation into, the United States or between jurisdictions
230	abroad of tangible personal property or services;
231	b.  The financing of the production, preparation, storage,
232	or transportation of tangible personal property or services
233	which are identifiable as being directly and solely for export
234	from, or import into, the United States or between jurisdictions
235	abroad;
236	c.  The financing of contracts, projects, or activities to
237	be performed substantially abroad, except those transactions
238	secured by a mortgage, deed of trust, or other lien upon real
239	property located in the state;
240	d.  The receipt of deposits or borrowings or the extensions
241	of credit by an international banking facility, except the loan
242	or deposit of funds secured by mortgage, deed of trust, or other
243	lien upon real property located in the state; or
244	e.  Entering into foreign exchange trading or hedging
245	transactions in connection with the activities described in sub-
246	subparagraph d.
247	Section 13.  Subsection (19) of section 212.02, Florida
248	Statutes, is amended to read:
249	212.02  Definitions.--The following terms and phrases when
250	used in this chapter have the meanings ascribed to them in this
251	section, except where the context clearly indicates a different
252	meaning:
253	(19)  "Tangible personal property" means and includes
254	personal property which may be seen, weighed, measured, or
255	touched or is in any manner perceptible to the senses, including
256	electric power or energy, boats, motor vehicles and mobile homes
257	as defined in s. 320.01(1) and (2), aircraft as defined in s.
258	330.27, and all other types of vehicles. The term "tangible
259	personal property" does not include stocks, bonds, notes,
260	insurance, or other obligations or securities; intangibles as
261	defined by the intangible tax law of the state; or pari-mutuel
262	tickets sold or issued under the racing laws of the state.
263	Section 14.  Subsection (4), paragraphs (k) and (p) of
264	subsection (7), and paragraph (a) of subsection (14) of section
265	213.053, Florida Statutes, are amended to read:
266	213.053  Confidentiality and information sharing.--
267	(4)  Nothing contained in this section shall prevent the
268	department from publishing statistics so classified as to
269	prevent the identification of particular accounts, reports,
270	declarations, or returns or prevent the department from
271	disclosing to the Chief Financial Officer the names and
272	addresses of those taxpayers who have claimed an exemption
273	pursuant to s. 199.185(1)(i) or a deduction pursuant to s.
274	220.63(5).
275	(7)  Notwithstanding any other provision of this section,
276	the department may provide:
277	(k)1.  Payment information relative to chapters 199, 201,
278	212, 220, 221, and 624 to the Office of Tourism, Trade, and
279	Economic Development, or its employees or agents that are
280	identified in writing by the office to the department, in the
281	administration of the tax refund program for qualified defense
282	contractors authorized by s. 288.1045 and the tax refund program
283	for qualified target industry businesses authorized by s.
284	288.106.
285	2.  Information relative to tax credits taken by a business
286	under s. 220.191 and exemptions or tax refunds received by a
287	business under s. 212.08(5)(j) to the Office of Tourism, Trade,
288	and Economic Development, or its employees or agents that are
289	identified in writing by the office to the department, in the
290	administration and evaluation of the capital investment tax
291	credit program authorized in s. 220.191 and the semiconductor,
292	defense, and space tax exemption program authorized in s.
293	212.08(5)(j).
294	(p)  Information relative to ss. 199.1055, 220.1845, and
295	376.30781 to the Department of Environmental Protection in the
296	conduct of its official business.
297
298	Disclosure of information under this subsection shall be
299	pursuant to a written agreement between the executive director
300	and the agency. Such agencies, governmental or nongovernmental,
301	shall be bound by the same requirements of confidentiality as
302	the Department of Revenue. Breach of confidentiality is a
303	misdemeanor of the first degree, punishable as provided by s.
304	775.082 or s. 775.083.
305	(14)(a)  Notwithstanding any other provision of this
306	section, the department shall, subject to the safeguards
307	specified in paragraph (c), disclose to the Division of
308	Corporations of the Department of State the name, address,
309	federal employer identification number, and duration of tax
310	filings with this state of all corporate or partnership entities
311	which are not on file or have a dissolved status with the
312	Division of Corporations and which have filed tax returns
313	pursuant to either chapter 199 or chapter 220.
314	Section 15.  Section 213.054, Florida Statutes, is amended
315	to read:
316	213.054  Persons claiming tax exemptions or deductions;
317	annual report.--The Department of Revenue shall be responsible
318	for monitoring the utilization of tax exemptions and tax
319	deductions authorized pursuant to chapter 81-179, Laws of
320	Florida. On or before September 1 of each year, the department
321	shall report to the Chief Financial Officer the names and
322	addresses of all persons who have claimed an exemption pursuant
323	to s. 199.185(1)(i) or a deduction pursuant to s. 220.63(5).
324	Section 16.  Section 213.27, Florida Statutes, is amended
325	to read:
326	213.27  Contracts with debt collection agencies and certain
327	vendors.--
328	(1)  The Department of Revenue may, for the purpose of
329	collecting any delinquent taxes due from a taxpayer, including
330	taxes for which a bill or notice has been generated, contract
331	with any debt collection agency or attorney doing business
332	within or without this state for the collection of such
333	delinquent taxes including penalties and interest thereon. The
334	department may also share confidential information pursuant to
335	the contract necessary for the collection of delinquent taxes
336	and taxes for which a billing or notice has been generated.
337	Contracts will be made pursuant to chapter 287. The taxpayer
338	must be notified by mail by the department, its employees, or
339	its authorized representative 30 days prior to commencing any
340	litigation to recover any delinquent taxes. The taxpayer must be
341	notified by mail by the department 30 days prior to the
342	department assigning the collection of any taxes to the debt
343	collection agency.
344	(2)  The department may enter into contracts with any
345	individual or business for the purpose of identifying intangible
346	personal property tax liability. Contracts may provide for the
347	identification of assets subject to the tax on intangible
348	personal property, the determination of value of such property,
349	the requirement for filing a tax return and the collection of
350	taxes due, including applicable penalties and interest thereon.
351	The department may share confidential information pursuant to
352	the contract necessary for the identification of taxable
353	intangible personal property. Contracts shall be made pursuant
354	to chapter 287. The taxpayer must be notified by mail by the
355	department 30 days prior to the department assigning
356	identification of intangible personal property to an individual
357	or business.
358	(2)(3)  Any contract may provide, in the discretion of the
359	executive director of the Department of Revenue, the manner in
360	which the compensation for such services will be paid. Under
361	standards established by the department, such compensation shall
362	be added to the amount of the tax and collected as a part
363	thereof by the agency or deducted from the amount of tax,
364	penalty, and interest actually collected.
365	(3)(4)  All funds collected under the terms of the
366	contract, less the fees provided in the contract, shall be
367	remitted to the department within 30 days from the date of
368	collection from a taxpayer. Forms to be used for such purpose
369	shall be prescribed by the department.
370	(4)(5)  The department shall require a bond from the debt
371	collection agency or the individual or business contracted with
372	under subsection (2) not in excess of $100,000 guaranteeing
373	compliance with the terms of the contract. However, a bond of
374	$10,000 is required from a debt collection agency if the agency
375	does not actually collect and remit delinquent funds to the
376	department.
377	(5)(6)  The department may, for the purpose of ascertaining
378	the amount of or collecting any taxes due from a person doing
379	mail order business in this state, contract with any auditing
380	agency doing business within or without this state for the
381	purpose of conducting an audit of such mail order business;
382	however, such audit agency may not conduct an audit on behalf of
383	the department of any person domiciled in this state, person
384	registered for sales and use tax purposes in this state, or
385	corporation filing a Florida corporate tax return, if any such
386	person or corporation objects to such audit in writing to the
387	department and the auditing agency. The department shall notify
388	the taxpayer by mail at least 30 days before the department
389	assigns the collection of such taxes.
390	(6)(7)  Confidential information shared by the department
391	with debt collection or auditing agencies or individuals or
392	businesses with which the department has contracted under
393	subsection (2) is exempt from the provisions of s. 119.07(1),
394	and debt collection or auditing agencies and individuals or
395	businesses with which the department has contracted under
396	subsection (2) shall be bound by the same requirements of
397	confidentiality as the Department of Revenue. Breach of
398	confidentiality is a misdemeanor of the first degree, punishable
399	as provided by ss. 775.082 and 775.083.
400	(7)(8)(a)  The executive director of the department may
401	enter into contracts with private vendors to develop and
402	implement systems to enhance tax collections where compensation
403	to the vendors is funded through increased tax collections. The
404	amount of compensation paid to a vendor shall be based on a
405	percentage of increased tax collections attributable to the
406	system after all administrative and judicial appeals are
407	exhausted, and the total amount of compensation paid to a vendor
408	shall not exceed the maximum amount stated in the contract.
409	(b)  A person acting on behalf of the department under a
410	contract authorized by this subsection does not exercise any of
411	the powers of the department, except that the person is an agent
412	of the department for the purposes of developing and
413	implementing a system to enhance tax collection.
414	(c)  Disclosure of information under this subsection shall
415	be pursuant to a written agreement between the executive
416	director and the private vendors. The vendors shall be bound by
417	the same requirements of confidentiality as the department.
418	Breach of confidentiality is a misdemeanor of the first degree,
419	punishable as provided in s. 775.082 or s. 775.083.
420	Section 17.  Section 213.31, Florida Statutes, is amended
421	to read:
422	213.31  Corporation Tax Administration Trust Fund.--There
423	is hereby created in the State Treasury the Corporation Tax
424	Administration Trust Fund. Moneys in the fund are hereby
425	appropriated to the Department of Revenue for the administration
426	of taxes levied upon corporations, including, but not limited
427	to, those imposed under chapter 199, chapter 220, or chapter
428	221.
429	Section 18.  Paragraph (c) of subsection (6) of section
430	215.555, Florida Statutes, is amended to read:
431	215.555  Florida Hurricane Catastrophe Fund.--
432	(6)  REVENUE BONDS.--
433	(c)  Florida Hurricane Catastrophe Fund Finance
434	Corporation.--
435	1.  In addition to the findings and declarations in
436	subsection (1), the Legislature also finds and declares that:
437	a.  The public benefits corporation created under this
438	paragraph will provide a mechanism necessary for the cost-
439	effective and efficient issuance of bonds. This mechanism will
440	eliminate unnecessary costs in the bond issuance process,
441	thereby increasing the amounts available to pay reimbursement
442	for losses to property sustained as a result of hurricane
443	damage.
444	b.  The purpose of such bonds is to fund reimbursements
445	through the Florida Hurricane Catastrophe Fund to pay for the
446	costs of construction, reconstruction, repair, restoration, and
447	other costs associated with damage to properties of
448	policyholders of covered policies due to the occurrence of a
449	hurricane.
450	c.  The efficacy of the financing mechanism will be
451	enhanced by the corporation's ownership of the assessments, by
452	the insulation of the assessments from possible bankruptcy
453	proceedings, and by covenants of the state with the
454	corporation's bondholders.
455	2.a.  There is created a public benefits corporation, which
456	is an instrumentality of the state, to be known as the Florida
457	Hurricane Catastrophe Fund Finance Corporation.
458	b.  The corporation shall operate under a five-member board
459	of directors consisting of the Governor or a designee, the Chief
460	Financial Officer or a designee, the Attorney General or a
461	designee, the director of the Division of Bond Finance of the
462	State Board of Administration, and the senior employee of the
463	State Board of Administration responsible for operations of the
464	Florida Hurricane Catastrophe Fund.
465	c.  The corporation has all of the powers of corporations
466	under chapter 607 and under chapter 617, subject only to the
467	provisions of this subsection.
468	d.  The corporation may issue bonds and engage in such
469	other financial transactions as are necessary to provide
470	sufficient funds to achieve the purposes of this section.
471	e.  The corporation may invest in any of the investments
472	authorized under s. 215.47.
473	f.  There shall be no liability on the part of, and no
474	cause of action shall arise against, any board members or
475	employees of the corporation for any actions taken by them in
476	the performance of their duties under this paragraph.
477	3.a.  In actions under chapter 75 to validate any bonds
478	issued by the corporation, the notice required by s. 75.06 shall
479	be published only in Leon County and in two newspapers of
480	general circulation in the state, and the complaint and order of
481	the court shall be served only on the State Attorney of the
482	Second Judicial Circuit.
483	b.  The state hereby covenants with holders of bonds of the
484	corporation that the state will not repeal or abrogate the power
485	of the board to direct the Office of Insurance Regulation to
486	levy the assessments and to collect the proceeds of the revenues
487	pledged to the payment of such bonds as long as any such bonds
488	remain outstanding unless adequate provision has been made for
489	the payment of such bonds pursuant to the documents authorizing
490	the issuance of such bonds.
491	4.  The bonds of the corporation are not a debt of the
492	state or of any political subdivision, and neither the state nor
493	any political subdivision is liable on such bonds. The
494	corporation does not have the power to pledge the credit, the
495	revenues, or the taxing power of the state or of any political
496	subdivision. The credit, revenues, or taxing power of the state
497	or of any political subdivision shall not be deemed to be
498	pledged to the payment of any bonds of the corporation.
499	5.a.  The property, revenues, and other assets of the
500	corporation; the transactions and operations of the corporation
501	and the income from such transactions and operations; and all
502	bonds issued under this paragraph and interest on such bonds are
503	exempt from taxation by the state and any political subdivision,
504	including the intangibles tax under chapter 199 and the income
505	tax under chapter 220. This exemption does not apply to any tax
506	imposed by chapter 220 on interest, income, or profits on debt
507	obligations owned by corporations other than the Florida
508	Hurricane Catastrophe Fund Finance Corporation.
509	b.  All bonds of the corporation shall be and constitute
510	legal investments without limitation for all public bodies of
511	this state; for all banks, trust companies, savings banks,
512	savings associations, savings and loan associations, and
513	investment companies; for all administrators, executors,
514	trustees, and other fiduciaries; for all insurance companies and
515	associations and other persons carrying on an insurance
516	business; and for all other persons who are now or may hereafter
517	be authorized to invest in bonds or other obligations of the
518	state and shall be and constitute eligible securities to be
519	deposited as collateral for the security of any state, county,
520	municipal, or other public funds. This sub-subparagraph shall be
521	considered as additional and supplemental authority and shall
522	not be limited without specific reference to this sub-
523	subparagraph.
524	6.  The corporation and its corporate existence shall
525	continue until terminated by law; however, no such law shall
526	take effect as long as the corporation has bonds outstanding
527	unless adequate provision has been made for the payment of such
528	bonds pursuant to the documents authorizing the issuance of such
529	bonds. Upon termination of the existence of the corporation, all
530	of its rights and properties in excess of its obligations shall
531	pass to and be vested in the state.
532	Section 19.  Section 220.1845, Florida Statutes, is amended
533	to read:
534	220.1845  Contaminated site rehabilitation tax credit.--
535	(1)  AUTHORIZATION FOR TAX CREDIT; LIMITATIONS.--
536	(a)  A credit in the amount of 35 percent of the costs of
537	voluntary cleanup activity that is integral to site
538	rehabilitation at the following sites is available against any
539	tax due for a taxable year under this chapter:
540	1.  A drycleaning-solvent-contaminated site eligible for
541	state-funded site rehabilitation under s. 376.3078(3);
542	2.  A drycleaning-solvent-contaminated site at which
543	cleanup is undertaken by the real property owner pursuant to s.
544	376.3078(11), if the real property owner is not also, and has
545	never been, the owner or operator of the drycleaning facility
546	where the contamination exists; or
547	3.  A brownfield site in a designated brownfield area under
548	s. 376.80.
549	(b)  A tax credit applicant, or multiple tax credit
550	applicants working jointly to clean up a single site, may not be
551	granted more than $250,000 per year in tax credits for each site
552	voluntarily rehabilitated. Multiple tax credit applicants shall
553	be granted tax credits in the same proportion as their
554	contribution to payment of cleanup costs. Subject to the same
555	conditions and limitations as provided in this section, a
556	municipality, county, or other tax credit applicant which
557	voluntarily rehabilitates a site may receive not more than
558	$250,000 per year in tax credits which it can subsequently
559	transfer subject to the provisions in paragraph (g)(h).
560	(c)  If the credit granted under this section is not fully
561	used in any one year because of insufficient tax liability on
562	the part of the corporation, the unused amount may be carried
563	forward for a period not to exceed 5 years. The carryover credit
564	may be used in a subsequent year when the tax imposed by this
565	chapter for that year exceeds the credit for which the
566	corporation is eligible in that year under this section after
567	applying the other credits and unused carryovers in the order
568	provided by s. 220.02(8). Five years after the date a credit is
569	granted under this section, such credit expires and may not be
570	used. However, if during the 5-year period the credit is
571	transferred, in whole or in part, pursuant to paragraph (g)(h),
572	each transferee has 5 years after the date of transfer to use
573	its credit.
574	(d)  A taxpayer that files a consolidated return in this
575	state as a member of an affiliated group under s. 220.131(1) may
576	be allowed the credit on a consolidated return basis up to the
577	amount of tax imposed upon the consolidated group.
578	(e)  A taxpayer that receives credit under s. 199.1055 is
579	ineligible to receive credit under this section in a given tax
580	year.
581	(e)(f)  A tax credit applicant that receives state-funded
582	site rehabilitation under s. 376.3078(3) for rehabilitation of a
583	drycleaning-solvent-contaminated site is ineligible to receive
584	credit under this section for costs incurred by the tax credit
585	applicant in conjunction with the rehabilitation of that site
586	during the same time period that state-administered site
587	rehabilitation was underway.
588	(f)(g)  The total amount of the tax credits which may be
589	granted under this section and s. 199.1055 is $2 million
590	annually.
591	(g)(h)1.  Tax credits that may be available under this
592	section to an entity eligible under s. 376.30781 may be
593	transferred after a merger or acquisition to the surviving or
594	acquiring entity and used in the same manner and with the same
595	limitations.
596	2.  The entity or its surviving or acquiring entity as
597	described in subparagraph 1., may transfer any unused credit in
598	whole or in units of no less than 25 percent of the remaining
599	credit. The entity acquiring such credit may use it in the same
600	manner and with the same limitation as described in this
601	section. Such transferred credits may not be transferred again
602	although they may succeed to a surviving or acquiring entity
603	subject to the same conditions and limitations as described in
604	this section.
605	3.  In the event the credit provided for under this section
606	is reduced either as a result of a determination by the
607	Department of Environmental Protection or an examination or
608	audit by the Department of Revenue, such tax deficiency shall be
609	recovered from the first entity, or the surviving or acquiring
610	entity, to have claimed such credit up to the amount of credit
611	taken. Any subsequent deficiencies shall be assessed against any
612	entity acquiring and claiming such credit, or in the case of
613	multiple succeeding entities in the order of credit succession.
614	(h)(i)  In order to encourage completion of site
615	rehabilitation at contaminated sites being voluntarily cleaned
616	up and eligible for a tax credit under this section, the tax
617	credit applicant may claim an additional 10 percent of the total
618	cleanup costs, not to exceed $50,000, in the final year of
619	cleanup as evidenced by the Department of Environmental
620	Protection issuing a "No Further Action" order for that site.
621	(2)  FILING REQUIREMENTS.--Any corporation that wishes to
622	obtain credit under this section must submit with its return a
623	tax credit certificate approving partial tax credits issued by
624	the Department of Environmental Protection under s. 376.30781.
625	(3)  ADMINISTRATION; AUDIT AUTHORITY; TAX CREDIT
626	FORFEITURE.--
627	(a)  The Department of Revenue may adopt rules to prescribe
628	any necessary forms required to claim a tax credit under this
629	section and to provide the administrative guidelines and
630	procedures required to administer this section.
631	(b)  In addition to its existing audit and investigation
632	authority relating to chapter 199 and this chapter, the
633	Department of Revenue may perform any additional financial and
634	technical audits and investigations, including examining the
635	accounts, books, or records of the tax credit applicant, which
636	are necessary to verify the site rehabilitation costs included
637	in a tax credit return and to ensure compliance with this
638	section. The Department of Environmental Protection shall
639	provide technical assistance, when requested by the Department
640	of Revenue, on any technical audits performed pursuant to this
641	section.
642	(c)  It is grounds for forfeiture of previously claimed and
643	received tax credits if the Department of Revenue determines, as
644	a result of either an audit or information received from the
645	Department of Environmental Protection, that a taxpayer received
646	tax credits pursuant to this section to which the taxpayer was
647	not entitled. In the case of fraud, the taxpayer shall be
648	prohibited from claiming any future tax credits under this
649	section or s. 199.1055.
650	1.  The taxpayer is responsible for returning forfeited tax
651	credits to the Department of Revenue, and such funds shall be
652	paid into the General Revenue Fund of the state.
653	2.  The taxpayer shall file with the Department of Revenue
654	an amended tax return or such other report as the Department of
655	Revenue prescribes by rule and shall pay any required tax within
656	60 days after the taxpayer receives notification from the
657	Department of Environmental Protection pursuant to s. 376.30781
658	that previously approved tax credits have been revoked or
659	modified, if uncontested, or within 60 days after a final order
660	is issued following proceedings involving a contested revocation
661	or modification order.
662	3.  A notice of deficiency may be issued by the Department
663	of Revenue at any time within 5 years after the date the
664	taxpayer receives notification from the Department of
665	Environmental Protection pursuant to s. 376.30781 that
666	previously approved tax credits have been revoked or modified.
667	If a taxpayer fails to notify the Department of Revenue of any
668	change in its tax credit claimed, a notice of deficiency may be
669	issued at any time. In either case, the amount of any proposed
670	assessment set forth in such notice of deficiency shall be
671	limited to the amount of any deficiency resulting under this
672	section from the recomputation of the taxpayer's tax for the
673	taxable year.
674	4.  Any taxpayer that fails to report and timely pay any
675	tax due as a result of the forfeiture of its tax credit is in
676	violation of this section and is subject to applicable penalty
677	and interest.
678	Section 20.  Paragraph (b) of subsection (2) of section
679	288.039, Florida Statutes, is amended to read:
680	288.039  Employing and Training our Youths (ENTRY).--
681	(2)  TAX REFUND; ELIGIBLE AMOUNTS.--
682	(b)  After entering into an employment/tax refund agreement
683	under subsection (3), an eligible business may receive refunds
684	for the following taxes or fees due and paid by that business:
685	1.  Taxes on sales, use, and other transactions under
686	chapter 212.
687	2.  Corporate income taxes under chapter 220.
688	3.  Intangible personal property taxes under chapter 199.
689	3.4.  Emergency excise taxes under chapter 221.
690	4.5.  Excise taxes on documents under chapter 201.
691	5.6.  Ad valorem taxes paid, as defined in s. 220.03(1).
692	6.7.  Insurance premium taxes under s. 624.509.
693	7.8.  Occupational license fees under chapter 205.
694
695	However, an eligible business may not receive a refund under
696	this section for any amount of credit, refund, or exemption
697	granted to that business for any of such taxes or fees. If a
698	refund for such taxes or fees is provided by the office, which
699	taxes or fees are subsequently adjusted by the application of
700	any credit, refund, or exemption granted to the eligible
701	business other than as provided in this section, the business
702	shall reimburse the office for the amount of that credit,
703	refund, or exemption. An eligible business shall notify and
704	tender payment to the office within 20 days after receiving any
705	credit, refund, or exemption other than the one provided in this
706	section.
707	Section 21.  Paragraph (f) of subsection (2) and paragraphs
708	(b), (c), and (d) of subsection (3) of section 288.1045, Florida
709	Statutes, are amended to read:
710	288.1045  Qualified defense contractor tax refund
711	program.--
712	(2)  GRANTING OF A TAX REFUND; ELIGIBLE AMOUNTS.--
713	(f)  After entering into a tax refund agreement pursuant to
714	subsection (4), a qualified applicant may receive refunds from
715	the Economic Development Trust Fund for the following taxes due
716	and paid by the qualified applicant beginning with the
717	applicant's first taxable year that begins after entering into
718	the agreement:
719	1.  Taxes on sales, use, and other transactions paid
720	pursuant to chapter 212.
721	2.  Corporate income taxes paid pursuant to chapter 220.
722	3.  Intangible personal property taxes paid pursuant to
723	chapter 199.
724	3.4.  Emergency excise taxes paid pursuant to chapter 221.
725	4.5.  Excise taxes paid on documents pursuant to chapter
726	201.
727	5.6.  Ad valorem taxes paid, as defined in s. 220.03(1)(a)
728	on June 1, 1996.
729
730	However, a qualified applicant may not receive a tax refund
731	pursuant to this section for any amount of credit, refund, or
732	exemption granted such contractor for any of such taxes. If a
733	refund for such taxes is provided by the office, which taxes are
734	subsequently adjusted by the application of any credit, refund,
735	or exemption granted to the qualified applicant other than that
736	provided in this section, the qualified applicant shall
737	reimburse the Economic Development Trust Fund for the amount of
738	such credit, refund, or exemption. A qualified applicant must
739	notify and tender payment to the office within 20 days after
740	receiving a credit, refund, or exemption, other than that
741	provided in this section.
742	(3)  APPLICATION PROCESS; REQUIREMENTS; AGENCY
743	DETERMINATION.--
744	(b)  Applications for certification based on the
745	consolidation of a Department of Defense contract or a new
746	Department of Defense contract must be submitted to the office
747	as prescribed by the office and must include, but are not
748	limited to, the following information:
749	1.  The applicant's federal employer identification number,
750	the applicant's Florida sales tax registration number, and a
751	notarized signature of an officer of the applicant.
752	2.  The permanent location of the manufacturing,
753	assembling, fabricating, research, development, or design
754	facility in this state at which the project is or is to be
755	located.
756	3.  The Department of Defense contract numbers of the
757	contract to be consolidated, the new Department of Defense
758	contract number, or the "RFP" number of a proposed Department of
759	Defense contract.
760	4.  The date the contract was executed or is expected to be
761	executed, and the date the contract is due to expire or is
762	expected to expire.
763	5.  The commencement date for project operations under the
764	contract in this state.
765	6.  The number of net new full-time equivalent Florida jobs
766	included in the project as of December 31 of each year and the
767	average wage of such jobs.
768	7.  The total number of full-time equivalent employees
769	employed by the applicant in this state.
770	8.  The percentage of the applicant's gross receipts
771	derived from Department of Defense contracts during the 5
772	taxable years immediately preceding the date the application is
773	submitted.
774	9.  The amount of:
775	a.  Taxes on sales, use, and other transactions paid
776	pursuant to chapter 212;
777	b.  Corporate income taxes paid pursuant to chapter 220;
778	c.  Intangible personal property taxes paid pursuant to
779	chapter 199;
780	c.d.  Emergency excise taxes paid pursuant to chapter 221;
781	d.e.  Excise taxes paid on documents pursuant to chapter
782	201; and
783	e.f.  Ad valorem taxes paid
784
785	during the 5 fiscal years immediately preceding the date of the
786	application, and the projected amounts of such taxes to be due
787	in the 3 fiscal years immediately following the date of the
788	application.
789	10.  The estimated amount of tax refunds to be claimed for
790	each fiscal year.
791	11.  A brief statement concerning the applicant's need for
792	tax refunds, and the proposed uses of such refunds by the
793	applicant.
794	12.  A resolution adopted by the county commissioners of
795	the county in which the project will be located, which
796	recommends the applicant be approved as a qualified applicant,
797	and which indicates that the necessary commitments of local
798	financial support for the applicant exist. Prior to the adoption
799	of the resolution, the county commission may review the proposed
800	public or private sources of such support and determine whether
801	the proposed sources of local financial support can be provided
802	or, for any applicant whose project is located in a county
803	designated by the Rural Economic Development Initiative, a
804	resolution adopted by the county commissioners of such county
805	requesting that the applicant's project be exempt from the local
806	financial support requirement.
807	13.  Any additional information requested by the office.
808	(c)  Applications for certification based on the conversion
809	of defense production jobs to nondefense production jobs must be
810	submitted to the office as prescribed by the office and must
811	include, but are not limited to, the following information:
812	1.  The applicant's federal employer identification number,
813	the applicant's Florida sales tax registration number, and a
814	notarized signature of an officer of the applicant.
815	2.  The permanent location of the manufacturing,
816	assembling, fabricating, research, development, or design
817	facility in this state at which the project is or is to be
818	located.
819	3.  The Department of Defense contract numbers of the
820	contract under which the defense production jobs will be
821	converted to nondefense production jobs.
822	4.  The date the contract was executed, and the date the
823	contract is due to expire or is expected to expire, or was
824	canceled.
825	5.  The commencement date for the nondefense production
826	operations in this state.
827	6.  The number of net new full-time equivalent Florida jobs
828	included in the nondefense production project as of December 31
829	of each year and the average wage of such jobs.
830	7.  The total number of full-time equivalent employees
831	employed by the applicant in this state.
832	8.  The percentage of the applicant's gross receipts
833	derived from Department of Defense contracts during the 5
834	taxable years immediately preceding the date the application is
835	submitted.
836	9.  The amount of:
837	a.  Taxes on sales, use, and other transactions paid
838	pursuant to chapter 212;
839	b.  Corporate income taxes paid pursuant to chapter 220;
840	c.  Intangible personal property taxes paid pursuant to
841	chapter 199;
842	c.d.  Emergency excise taxes paid pursuant to chapter 221;
843	d.e.  Excise taxes paid on documents pursuant to chapter
844	201; and
845	e.f.  Ad valorem taxes paid
846
847	during the 5 fiscal years immediately preceding the date of the
848	application, and the projected amounts of such taxes to be due
849	in the 3 fiscal years immediately following the date of the
850	application.
851	10.  The estimated amount of tax refunds to be claimed for
852	each fiscal year.
853	11.  A brief statement concerning the applicant's need for
854	tax refunds, and the proposed uses of such refunds by the
855	applicant.
856	12.  A resolution adopted by the county commissioners of
857	the county in which the project will be located, which
858	recommends the applicant be approved as a qualified applicant,
859	and which indicates that the necessary commitments of local
860	financial support for the applicant exist. Prior to the adoption
861	of the resolution, the county commission may review the proposed
862	public or private sources of such support and determine whether
863	the proposed sources of local financial support can be provided
864	or, for any applicant whose project is located in a county
865	designated by the Rural Economic Development Initiative, a
866	resolution adopted by the county commissioners of such county
867	requesting that the applicant's project be exempt from the local
868	financial support requirement.
869	13.  Any additional information requested by the office.
870	(d)  Applications for certification based on a contract for
871	reuse of a defense-related facility must be submitted to the
872	office as prescribed by the office and must include, but are not
873	limited to, the following information:
874	1.  The applicant's Florida sales tax registration number
875	and a notarized signature of an officer of the applicant.
876	2.  The permanent location of the manufacturing,
877	assembling, fabricating, research, development, or design
878	facility in this state at which the project is or is to be
879	located.
880	3.  The business entity holding a valid Department of
881	Defense contract or branch of the Armed Forces of the United
882	States that previously occupied the facility, and the date such
883	entity last occupied the facility.
884	4.  A copy of the contract to reuse the facility, or such
885	alternative proof as may be prescribed by the office that the
886	applicant is seeking to contract for the reuse of such facility.
887	5.  The date the contract to reuse the facility was
888	executed or is expected to be executed, and the date the
889	contract is due to expire or is expected to expire.
890	6.  The commencement date for project operations under the
891	contract in this state.
892	7.  The number of net new full-time equivalent Florida jobs
893	included in the project as of December 31 of each year and the
894	average wage of such jobs.
895	8.  The total number of full-time equivalent employees
896	employed by the applicant in this state.
897	9.  The amount of:
898	a.  Taxes on sales, use, and other transactions paid
899	pursuant to chapter 212.
900	b.  Corporate income taxes paid pursuant to chapter 220.
901	c.  Intangible personal property taxes paid pursuant to
902	chapter 199.
903	c.d.  Emergency excise taxes paid pursuant to chapter 221.
904	d.e.  Excise taxes paid on documents pursuant to chapter
905	201.
906	e.f.  Ad valorem taxes paid during the 5 fiscal years
907	immediately preceding the date of the application, and the
908	projected amounts of such taxes to be due in the 3 fiscal years
909	immediately following the date of the application.
910	10.  The estimated amount of tax refunds to be claimed for
911	each fiscal year.
912	11.  A brief statement concerning the applicant's need for
913	tax refunds, and the proposed uses of such refunds by the
914	applicant.
915	12.  A resolution adopted by the county commissioners of
916	the county in which the project will be located, which
917	recommends the applicant be approved as a qualified applicant,
918	and which indicates that the necessary commitments of local
919	financial support for the applicant exist. Prior to the adoption
920	of the resolution, the county commission may review the proposed
921	public or private sources of such support and determine whether
922	the proposed sources of local financial support can be provided
923	or, for any applicant whose project is located in a county
924	designated by the Rural Economic Development Initiative, a
925	resolution adopted by the county commissioners of such county
926	requesting that the applicant's project be exempt from the local
927	financial support requirement.
928	13.  Any additional information requested by the office.
929	Section 22.  Paragraph (c) of subsection (2) of section
930	288.106, Florida Statutes, is amended to read:
931	288.106  Tax refund program for qualified target industry
932	businesses.--
933	(2)  TAX REFUND; ELIGIBLE AMOUNTS.--
934	(c)  After entering into a tax refund agreement under
935	subsection (4), a qualified target industry business may:
936	1.  Receive refunds from the account for the following
937	taxes due and paid by that business beginning with the first
938	taxable year of the business which begins after entering into
939	the agreement:
940	a.  Corporate income taxes under chapter 220.
941	b.  Insurance premium tax under s. 624.509.
942	2.  Receive refunds from the account for the following
943	taxes due and paid by that business after entering into the
944	agreement:
945	a.  Taxes on sales, use, and other transactions under
946	chapter 212.
947	b.  Intangible personal property taxes under chapter 199.
948	b.c.  Emergency excise taxes under chapter 221.
949	c.d.  Excise taxes on documents under chapter 201.
950	d.e.  Ad valorem taxes paid, as defined in s. 220.03(1).
951	Section 23.  Paragraph (a) of subsection (2), subsection
952	(3), and subsection (12) of section 376.30781, Florida Statutes,
953	are amended to read:
954	376.30781  Partial tax credits for rehabilitation of
955	drycleaning-solvent-contaminated sites and brownfield sites in
956	designated brownfield areas; application process; rulemaking
957	authority; revocation authority.--
958	(2)(a)  A credit in the amount of 35 percent of the costs
959	of voluntary cleanup activity that is integral to site
960	rehabilitation at the following sites is allowed pursuant to s.
961	ss. 199.1055 and 220.1845:
962	1.  A drycleaning-solvent-contaminated site eligible for
963	state-funded site rehabilitation under s. 376.3078(3);
964	2.  A drycleaning-solvent-contaminated site at which
965	cleanup is undertaken by the real property owner pursuant to s.
966	376.3078(11), if the real property owner is not also, and has
967	never been, the owner or operator of the drycleaning facility
968	where the contamination exists; or
969	3.  A brownfield site in a designated brownfield area under
970	s. 376.80.
971	(3)  The Department of Environmental Protection shall be
972	responsible for allocating the tax credits provided for in s.
973	ss. 199.1055 and 220.1845, not to exceed a total of $2 million
974	in tax credits annually.
975	(12)  A tax credit applicant who receives state-funded site
976	rehabilitation under s. 376.3078(3) for rehabilitation of a
977	drycleaning-solvent-contaminated site is ineligible to receive a
978	tax credit under s. 199.1055 or s. 220.1845 for costs incurred
979	by the tax credit applicant in conjunction with the
980	rehabilitation of that site during the same time period that
981	state-administered site rehabilitation was underway.
982	Section 24.  Subsection (13) of section 493.6102, Florida
983	Statutes, is amended to read:
984	493.6102  Inapplicability of this chapter.--This chapter
985	shall not apply to:
986	(13)  Any individual employed as a security officer by a
987	church or ecclesiastical or denominational organization having
988	an established physical place of worship in this state at which
989	nonprofit religious services and activities are regularly
990	conducted or by a church cemetery religious institution as
991	defined in s. 199.183(2)(a) to provide security on the
992	institution property of the organization or cemetery, and who
993	does not carry a firearm in the course of her or his duties.
994	Section 25.  Paragraph (a) of subsection (3) of section
995	516.031, Florida Statutes, is amended to read:
996	516.031  Finance charge; maximum rates.--
997	(3)  OTHER CHARGES.--
998	(a)  In addition to the interest, delinquency, and
999	insurance charges herein provided for, no further or other
1000	charges or amount whatsoever for any examination, service,
1001	commission, or other thing or otherwise shall be directly or
1002	indirectly charged, contracted for, or received as a condition
1003	to the grant of a loan, except:
1004	1.  An amount not to exceed $10 to reimburse a portion of
1005	the costs for investigating the character and credit of the
1006	person applying for the loan;
1007	2.  An annual fee of $25 on the anniversary date of each
1008	line-of-credit account;
1009	3.  Charges paid for brokerage fee on a loan or line of
1010	credit of more than $10,000, title insurance, and the appraisal
1011	of real property offered as security when paid to a third party
1012	and supported by an actual expenditure;
1013	4.  Intangible personal property tax on the loan note or
1014	obligation when secured by a lien on real property;
1015	4.5.  The documentary excise tax and lawful fees, if any,
1016	actually and necessarily paid out by the licensee to any public
1017	officer for filing, recording, or releasing in any public office
1018	any instrument securing the loan, which fees may be collected
1019	when the loan is made or at any time thereafter;
1020	5.6.  The premium payable for any insurance in lieu of
1021	perfecting any security interest otherwise required by the
1022	licensee in connection with the loan, if the premium does not
1023	exceed the fees which would otherwise be payable, which premium
1024	may be collected when the loan is made or at any time
1025	thereafter;
1026	6.7.  Actual and reasonable attorney's fees and court costs
1027	as determined by the court in which suit is filed;
1028	7.8.  Actual and commercially reasonable expenses of
1029	repossession, storing, repairing and placing in condition for
1030	sale, and selling of any property pledged as security; or
1031	8.9.  A delinquency charge not to exceed $10 for each
1032	payment in default for a period of not less than 10 days, if the
1033	charge is agreed upon, in writing, between the parties before
1034	imposing the charge.
1035
1036	Any charges, including interest, in excess of the combined total
1037	of all charges authorized and permitted by this chapter
1038	constitute a violation of chapter 687 governing interest and
1039	usury, and the penalties of that chapter apply. In the event of
1040	a bona fide error, the licensee shall refund or credit the
1041	borrower with the amount of the overcharge immediately but
1042	within 20 days from the discovery of such error.
1043	Section 26.  Paragraph (m) of subsection (5) of section
1044	627.311, Florida Statutes, is amended to read:
1045	627.311  Joint underwriters and joint reinsurers; public
1046	records and public meetings exemptions.--
1047	(5)
1048	(m)  Each joint underwriting plan or association created
1049	under this section is not a state agency, board, or commission.
1050	However, for the purposes of s. 199.183(1) only, the joint
1051	underwriting plan is a political subdivision of the state and is
1052	exempt from the corporate income tax.
1053	Section 27.  Paragraph (j) of subsection (6) of section
1054	627.351, Florida Statutes, is amended to read:
1055	627.351  Insurance risk apportionment plans.--
1056	(6)  CITIZENS PROPERTY INSURANCE CORPORATION.--
1057	(j)  For the purposes of s. 199.183(1), The corporation
1058	shall be considered a political subdivision of the state and
1059	shall be exempt from the corporate income tax. The premiums,
1060	assessments, investment income, and other revenue of the
1061	corporation are funds received for providing property insurance
1062	coverage as required by this subsection, paying claims for
1063	Florida citizens insured by the corporation, securing and
1064	repaying debt obligations issued by the corporation, and
1065	conducting all other activities of the corporation, and shall
1066	not be considered taxes, fees, licenses, or charges for services
1067	imposed by the Legislature on individuals, businesses, or
1068	agencies outside state government. Bonds and other debt
1069	obligations issued by or on behalf of the corporation are not to
1070	be considered "state bonds" within the meaning of s. 215.58(8).
1071	The corporation is not subject to the procurement provisions of
1072	chapter 287, and policies and decisions of the corporation
1073	relating to incurring debt, levying of assessments and the sale,
1074	issuance, continuation, terms and claims under corporation
1075	policies, and all services relating thereto, are not subject to
1076	the provisions of chapter 120. The corporation is not required
1077	to obtain or to hold a certificate of authority issued by the
1078	office, nor is it required to participate as a member insurer of
1079	the Florida Insurance Guaranty Association. However, the
1080	corporation is required to pay, in the same manner as an
1081	authorized insurer, assessments pledged by the Florida Insurance
1082	Guaranty Association to secure bonds issued or other
1083	indebtedness incurred to pay covered claims arising from insurer
1084	insolvencies caused by, or proximately related to, hurricane
1085	losses. It is the intent of the Legislature that the tax
1086	exemptions provided in this paragraph will augment the financial
1087	resources of the corporation to better enable the corporation to
1088	fulfill its public purposes. Any bonds issued by the
1089	corporation, their transfer, and the income therefrom, including
1090	any profit made on the sale thereof, shall at all times be free
1091	from taxation of every kind by the state and any political
1092	subdivision or local unit or other instrumentality thereof;
1093	however, this exemption does not apply to any tax imposed by
1094	chapter 220 on interest, income, or profits on debt obligations
1095	owned by corporations other than the corporation.
1096	Section 28.  Paragraph (b) of subsection (6) of section
1097	650.05, Florida Statutes, is amended to read:
1098	650.05  Plans for coverage of employees of political
1099	subdivisions.--
1100	(6)
1101	(b)  The grants-in-aid and other revenue referred to in
1102	paragraph (a) specifically include, but are not limited to,
1103	minimum foundation program grants to public school districts and
1104	community colleges; gasoline, motor fuel, intangible, cigarette,
1105	racing, and insurance premium taxes distributed to political
1106	subdivisions; and amounts specifically appropriated as grants-
1107	in-aid for mental health, mental retardation, and mosquito
1108	control programs.
1109	Section 29.  Subsection (1) of section 655.071, Florida
1110	Statutes, is amended to read:
1111	655.071  International banking facilities; definitions;
1112	notice before establishment.--
1113	(1)  "International banking facility" means a set of asset
1114	and liability accounts segregated on the books and records of a
1115	banking organization, as that term is defined in s. 201.23
1116	199.023, that includes only international banking facility
1117	deposits, borrowings, and extensions of credit, as those terms
1118	shall be defined by the commission pursuant to subsection (2).
1119	Section 30.  Subsections (5) and (6) of section 733.702,
1120	Florida Statutes, are amended to read:
1121	733.702  Limitations on presentation of claims.--
1122	(5)  The Department of Revenue may file a claim against the
1123	estate of a decedent for taxes due under chapter 199 after the
1124	expiration of the time for filing claims provided in subsection
1125	(1), if the department files its claim within 30 days after the
1126	service of the inventory. Upon filing of the estate tax return
1127	with the department as provided in s. 198.13, or to the extent
1128	the inventory or estate tax return is amended or supplemented,
1129	the department has the right to file a claim or to amend its
1130	previously filed claim within 30 days after service of the
1131	estate tax return, or an amended or supplemented inventory or
1132	filing of an amended or supplemental estate tax return, as to
1133	the additional information disclosed.
1134	(5)(6)  Nothing in this section shall extend the
1135	limitations period set forth in s. 733.710.
1136	Section 31.  Paragraph (a) of subsection (1) of section
1137	766.105, Florida Statutes, is amended to read:
1138	766.105  Florida Patient's Compensation Fund.--
1139	(1)  DEFINITIONS.--The following definitions apply in the
1140	interpretation and enforcement of this section:
1141	(a)  The term "fund" means the Florida Patient's
1142	Compensation Fund. The fund is not a state agency, board, or
1143	commission. However, for the purposes of s. 199.183(1) only, the
1144	fund shall be considered a political subdivision of this state.
1145	Section 32.  Effective upon this act becoming a law, the
1146	executive director of the Department of Revenue is authorized,
1147	and all conditions are deemed met, to adopt emergency rules
1148	under ss. 120.536(1) and 120.54, Florida Statutes, to implement
1149	chapter 199, Florida Statutes. Notwithstanding any other
1150	provision of law, such emergency rules shall remain effective
1151	for 6 months after the date of adoption and may be renewed
1152	during the pendency of procedures to adopt rules addressing the
1153	subject of the emergency rules.
1154	Section 33.  Except as otherwise provided herein, this act
1155	shall take effect January 1, 2007.

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