Senate Bill sb2348
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Florida Senate - 2005 SB 2348
By Senators Haridopolos, Wise, Peaden, Argenziano, Lynn,
Fasano, Dockery, Sebesta, Baker, Bennett, Constantine,
Atwater, Campbell, Saunders, Posey and Webster
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1 A bill to be entitled
2 An act relating to the tax on intangible
3 personal property; amending s. 199.032, F.S.;
4 reducing the annual rate of the tax; amending
5 s. 199.202, F.S.; authorizing the executive
6 director of the Department of Revenue to adopt
7 emergency rules; providing for the future
8 repeal of ss. 199.012, 199.032, 199.033,
9 199.042, 199.052, 199.057, 199.062, 199.103,
10 199.1055, 199.106, 199.175, and 199.185, F.S.,
11 which provide for annual taxes on intangible
12 personal property; amending ss. 192.032,
13 192.042, 192.091, 193.114, 196.015, 196.199,
14 196.1993, 199.023, 199.183, 199.303, 201.23,
15 212.02, 213.053, 213.054, 213.27, 215.555,
16 220.1845, 288.039, 288.1045, 288.106,
17 376.30781, 493.6102, 516.031, 627.311, 627.351,
18 650.05, 655.071, 733.702, and 766.105, F.S.,
19 conforming provisions; providing effective
20 dates.
21
22 Be It Enacted by the Legislature of the State of Florida:
23
24 Section 1. Section 199.032, Florida Statutes, is
25 amended to read:
26 199.032 Levy of annual tax.--Beginning January 1,
27 2006, an annual tax of 0.5 1 mill is imposed on each dollar of
28 the just valuation of all intangible personal property that
29 has a taxable situs in this state, except for notes and other
30 obligations for the payment of money, other than bonds, which
31 are secured by mortgage, deed of trust, or other lien upon
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1 real property situated in the state. This tax shall be
2 assessed and collected as provided in this chapter.
3 Section 2. Section 199.202, Florida Statutes, is
4 amended to read:
5 199.202 Administration of law; rules.--
6 (1) The department shall administer and enforce the
7 assessment and collection of the taxes, interest, and
8 penalties imposed by this chapter. It may by rule prescribe
9 the form and content of all returns and reports. It has
10 authority to adopt rules pursuant to ss. 120.536(1) and 120.54
11 to enforce the provisions of this chapter.
12 (2) The executive director of the department may adopt
13 emergency rules under ss. 120.536(1) and 120.54 to administer
14 this chapter. The Legislature declares that all conditions to
15 adopting such emergency rules under those provisions have been
16 met. Notwithstanding any other law, such emergency rules shall
17 remain in effect for 6 months after the date of their adoption
18 and may be renewed during the pendency of procedures to adopt
19 rules addressing the subject of the emergency rules.
20 Section 3. Effective January 1, 2007, sections
21 199.012, 199.032, 199.033, 199.042, 199.052, 199.057, 199.062,
22 199.103, 199.1055, 199.106, 199.175, and 199.185, Florida
23 Statutes, are repealed.
24 Section 4. Effective January 1, 2007, subsection (5)
25 of section 192.032, Florida Statutes, is repealed.
26 Section 5. Effective January 1, 2007, subsection (3)
27 of section 192.042, Florida Statutes, is repealed.
28 Section 6. Effective January 1, 2007, subsections (5)
29 and (6) of section 192.091, Florida Statutes, are amended to
30 read:
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1 192.091 Commissions of property appraisers and tax
2 collectors.--
3 (5) Provided, that the provisions of This section does
4 shall not apply to commissions on intangible property taxes or
5 drainage district or drainage subdistrict taxes.; and
6 (6) If a Provided, further, that where any property
7 appraiser or tax collector in the state is receiving
8 compensation for expenses in conducting his or her office or
9 by way of salary pursuant to any act of the Legislature other
10 than the general law fixing compensation of property
11 appraisers, the such property appraiser or tax collector may
12 file a declaration in writing with the board of county
13 commissioners of his or her county electing to come under the
14 provisions of this section, and thereupon the such property
15 appraiser or tax collector shall be paid compensation in
16 accordance with this section the provisions hereof, and shall
17 not be entitled to the benefit of the said special or local
18 act. If the such property appraiser or tax collector does not
19 so elect, he or she shall continue to be paid such
20 compensation as is may now be provided by law for such a
21 property appraiser or tax collector.
22 Section 7. Effective January 1, 2007, subsection (4)
23 of section 193.114, Florida Statutes, is repealed.
24 Section 8. Effective January 1, 2007, subsection (9)
25 of section 196.015, Florida Statutes, is repealed.
26 Section 9. Effective January 1, 2007, paragraph (b) of
27 subsection (2) of section 196.199, Florida Statutes, is
28 amended to read:
29 196.199 Government property exemption.--
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1 (2) Property owned by the following governmental units
2 but used by nongovernmental lessees shall only be exempt from
3 taxation under the following conditions:
4 (b) Except as provided in paragraph (c), the exemption
5 provided by this subsection shall not apply to those portions
6 of a leasehold or other possessory interest in real property,
7 except as described in s. 199.023(2)(d) defined by s.
8 199.023(1)(d), subject to the provisions of subsection (7).
9 Such leasehold or other interest shall be taxed only as
10 intangible personal property pursuant to chapter 199 if rental
11 payments are due in consideration of such leasehold or other
12 interest. If no rental payments are due pursuant to the
13 agreement creating such leasehold or other interest, the
14 leasehold or other interest shall be taxed as real property.
15 Nothing in This paragraph does not shall be deemed to exempt
16 personal property, buildings, or other real property
17 improvements owned by the lessee from ad valorem taxation.
18 Section 10. Effective January 1, 2007, section
19 196.1993, Florida Statutes, is amended to read:
20 196.1993 Certain agreements with local governments for
21 use of public property; exemption.--Any agreement entered into
22 with a local governmental authority prior to January 1, 1969,
23 for use of public property, under which it was understood and
24 agreed in a written instrument or by special act that no ad
25 valorem real property taxes would be paid by the licensee or
26 lessee, shall be deemed a license or management agreement for
27 the use or management of public property. Such interest shall
28 be deemed not to convey an interest in the property and shall
29 not be subject to ad valorem real property taxation. Nothing
30 in this section shall be deemed to exempt such licensee from
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1 the ad valorem intangible tax and the ad valorem personal
2 property tax.
3 Section 11. Effective January 1, 2007, section
4 199.023, Florida Statutes, is amended to read:
5 199.023 Definitions.--As used in this chapter, the
6 term:
7 (1) "Department" means the Department of Revenue.
8 (2)(1) "Intangible personal property" means all
9 personal property which is not in itself intrinsically
10 valuable, but which derives its chief value from that which it
11 represents, including, but not limited to, the following:
12 (a) All stocks or shares of incorporated or
13 unincorporated companies, business trusts, and mutual funds.
14 (b) All notes, bonds, and other obligations for the
15 payment of money.
16 (c) All condominium and cooperative apartment leases
17 of recreation facilities, land leases, and leases of other
18 commonly used facilities.
19 (d) Except for any leasehold or other possessory
20 interest described in s. 4(a), Art. VII of the State
21 Constitution or s. 196.199(7), all leasehold or other
22 possessory interests in real property owned by the United
23 States, the state, any political subdivision of the state, any
24 municipality of the state, or any agency, authority, and other
25 public body corporate of the state, which are undeveloped or
26 predominantly used for residential or commercial purposes and
27 upon which rental payments are due.
28 (2) "Money" includes, without limitation, United
29 States legal tender, certificates of deposit, cashier's and
30 certified checks, bills of exchange, drafts, the cash
31 equivalent of annuities and life insurance policies, and
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1 similar instruments, which are held by a taxpayer, or
2 deposited with or held by a banking organization or any other
3 person.
4 (3) "Person" means any individual, firm, partnership,
5 joint adventure, syndicate, or other group or combination
6 acting as a unit, association, corporation, estate, trust,
7 business trust, trustee, personal representative, receiver, or
8 other fiduciary and includes the plural as well as the
9 singular.
10 (4) "Taxpayer" means any person liable for taxes
11 imposed under this chapter and the heirs, successors,
12 assignees, and transferees of any such person.
13 (5) "Department" means the Department of Revenue.
14 (6) "In the state" means within the exterior limits of
15 Florida.
16 (7) A resident has a "beneficial interest" in a trust
17 if the resident has a vested interest, even if subject to
18 divestment, which includes at least a current right to income
19 and either a power to revoke the trust or a general power of
20 appointment, as defined in 26 U.S.C. s. 2041(b)(1).
21 (8) "Affiliated group" means one or more chains of
22 corporations or limited liability companies connected through
23 stock ownership or membership interest in a limited liability
24 company with a common parent corporation or limited liability
25 company, for which:
26 (a) Stock or membership interest in a limited
27 liability company possessing at least 80 percent of the voting
28 power of all classes of stock or membership interest in a
29 limited liability company and at least 80 percent of each
30 class of the nonvoting stock or membership interest in a
31 limited liability company of each corporation or limited
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1 liability company, except for the common parent corporation or
2 limited liability company, is owned directly by one or more of
3 the other corporations or limited liability companies; and
4 (b) The common parent corporation or limited liability
5 company directly owns stock or membership interest in a
6 limited liability company possessing at least 80 percent of
7 the voting power of all classes of stock or membership
8 interest in a limited liability company and at least 80
9 percent of each class of the nonvoting stock or membership
10 interest in a limited liability company of at least one of the
11 other corporations or limited liability companies.
12
13 As used in this subsection, the terms "nonvoting stock" and
14 "membership interest in a limited liability company" do not
15 include nonvoting stock or membership interest in a limited
16 liability company which is limited and preferred as to
17 dividends. For purposes of this chapter, a common parent may
18 be a corporation or a limited liability company.
19 (9) "Banking organization" means:
20 (a) A bank organized and existing under the laws of
21 this state;
22 (b) A national bank organized and existing pursuant to
23 the provisions of the National Bank Act, 12 U.S.C. ss. 21 et
24 seq., and maintaining its principal office in this state;
25 (c) An Edge Act corporation organized pursuant to the
26 provisions of s. 25(a) of the Federal Reserve Act, 12 U.S.C.
27 ss. 611 et seq., and maintaining an office in this state;
28 (d) An international bank agency licensed pursuant to
29 the laws of this state;
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1 (e) A federal agency licensed pursuant to ss. 4 and 5
2 of the International Banking Act of 1978 to maintain an office
3 in this state;
4 (f) A savings association organized and existing under
5 the laws of this state;
6 (g) A federal association organized and existing
7 pursuant to the provisions of the Home Owners' Loan Act of
8 1933, 12 U.S.C. ss. 1461 et seq., and maintaining its
9 principal office in this state; or
10 (h) A Florida export finance corporation organized and
11 existing pursuant to the provisions of part V of chapter 288.
12 (10) "International banking facility" means a set of
13 asset and liability accounts segregated on the books and
14 records of a banking organization that includes only
15 international banking facility deposits, borrowings, and
16 extensions of credit as those terms are defined pursuant to s.
17 655.071(2).
18 (11) "International banking transaction" means:
19 (a) The financing of the exportation from, or the
20 importation into, the United States or between jurisdictions
21 abroad of tangible personal property or services;
22 (b) The financing of the production, preparation,
23 storage, or transportation of tangible personal property or
24 services which are identifiable as being directly and solely
25 for export from, or import into, the United States or between
26 jurisdictions abroad;
27 (c) The financing of contracts, projects, or
28 activities to be performed substantially abroad, except those
29 transactions secured by a mortgage, deed of trust, or other
30 lien upon real property located in the state;
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1 (d) The receipt of deposits or borrowings or the
2 extensions of credit by an international banking facility,
3 except the loan or deposit of funds secured by mortgage, deed
4 of trust, or other lien upon real property located in the
5 state; or
6 (e) Entering into foreign exchange trading or hedging
7 transactions in connection with the activities described in
8 paragraph (d).
9 (12) "Abroad" means in one or more foreign nations; in
10 the colonies, dependencies, possessions, or territories of a
11 foreign nation or of the United States; or in the Commonwealth
12 of Puerto Rico.
13 (13) "Ministerial function" means an act the
14 performance of which does not involve the use of discretion or
15 judgment.
16 (14) "Processing activity" means an activity
17 undertaken to administer or service intangible personal
18 property in accordance with such terms, guidelines, criteria,
19 or directions as are provided solely by the owner of the
20 property. Methods, systems, or techniques chosen by the
21 processor to implement such terms, guidelines, criteria, or
22 directions are not considered the exercise of management or
23 control.
24 Section 12. Effective January 1, 2007, section
25 199.183, Florida Statutes, is amended to read:
26 199.183 Taxpayers exempt from annual and nonrecurring
27 taxes.--
28 (1) Intangible personal property owned by this state
29 or any of its political subdivisions or municipalities shall
30 be exempt from taxation under this chapter. This exemption
31 does not apply to:
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1 (a) Any leasehold or other interest that is described
2 in s. 199.023(1)(d).
3 (b) property related to the provision of two-way
4 telecommunications services to the public for hire by the use
5 of a telecommunications facility, as defined in s. 364.02(14),
6 and for which a certificate is required under chapter 364,
7 when such service is provided by any county, municipality, or
8 other political subdivision of the state. Any immunity of any
9 political subdivision of the state or other entity of local
10 government from taxation of the property used to provide
11 telecommunication services that is taxed as a result of this
12 paragraph is hereby waived. However, intangible personal
13 property related to the provision of such telecommunications
14 services provided by the operator of a public-use airport, as
15 defined in s. 332.004, for the operator's provision of
16 telecommunications services for the airport or its tenants,
17 concessionaires, or licensees, and intangible personal
18 property related to the provision of such telecommunications
19 services provided by a public hospital, are exempt from
20 taxation under this chapter.
21 (2) Intangible personal property owned by nonprofit
22 religious, nonprofit educational, or nonprofit charitable
23 institutions shall be exempt from taxation under this chapter.
24 This exemption shall be strictly defined, limited, and applied
25 in each category as follows:
26 (a) "Religious institutions" means churches and
27 ecclesiastical or denominational organizations having
28 established physical places for worship in this state at which
29 nonprofit religious services and activities are regularly
30 conducted, as well as church cemeteries.
31 (b) "Educational institutions" means only:
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1 1. Public or nonprofit private schools, colleges, or
2 universities conducting regular classes and courses of study
3 required for accreditation by, or membership in, the Southern
4 Association of Colleges and Schools, Department of Education,
5 or the Florida Council of Independent Schools; or
6 2. Nonprofit libraries, art galleries, and museums
7 open to the public.
8 (c) "Charitable institutions" means only:
9 1. Nonprofit corporations operating physical
10 facilities in this state at which are provided charitable
11 services, a reasonable percentage of which shall be without
12 cost to those unable to pay; or
13 2. Those institutions qualified as charitable under s.
14 501(c)(3) of the United States Internal Revenue Code of 1954.
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16 Intangible personal property shall not be deemed to be owned
17 by such exempt institutions if it is held in a trust of any
18 kind under which the institution has no present interest in
19 the trust principal except the right to compel the performance
20 of the trust agreement.
21 (3) Every national bank having its principal place of
22 business in another state, but operating a credit card credit
23 application processing, customer service, or collection
24 operation in this state, that is not considered a bank under
25 the provisions of 12 U.S.C. s. 1841(c)(2)(F), is exempt from
26 paying the tax imposed by this chapter on credit card
27 receivables owed to the bank by credit card holders domiciled
28 outside this state.
29 (4) Intangible personal property that is owned,
30 managed, or controlled by a trustee of a trust is exempt from
31 annual tax under this chapter. This exemption does not exempt
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1 from annual tax a resident of this state who has a taxable
2 beneficial interest, as defined in s. 199.023, in a trust.
3 Section 13. Effective January 1, 2007, subsection (3)
4 is added to section 199.303, Florida Statutes, to read:
5 199.303 Declaration of legislative intent.--
6 (3) All annual intangible personal property taxes
7 imposed under this chapter for the calendar years 2006 and
8 prior years shall remain in full force and effect for the year
9 in which the tax was due for the purposes specified in s.
10 95.091. The department shall continue to assess and collect
11 all taxes due to the state under these provisions for all
12 periods available for assessment, as provided for the year in
13 which tax was due under s. 95.091.
14 Section 14. Effective January 1, 2007, subsection (4)
15 of section 201.23, Florida Statutes, is amended to read:
16 201.23 Foreign notes and other written obligations
17 exempt.--
18 (4)(a) The excise taxes imposed by this chapter shall
19 not apply to the documents, notes, evidences of indebtedness,
20 financing statements, drafts, bills of exchange, or other
21 taxable items dealt with, made, issued, drawn upon, accepted,
22 delivered, shipped, received, signed, executed, assigned,
23 transferred, or sold by or to a banking organization, as
24 defined in s. 655.071 s. 199.023(9), in the conduct of an
25 international banking transaction, as defined in s.
26 199.023(11).
27 (b) As used in paragraph (a), the term "international
28 banking transaction" means:
29 1. The financing of the exportation from or the
30 importation into the United States or between jurisdictions
31 abroad of tangible personal property or services;
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1 2. The financing of the production, preparation,
2 storage, or transportation of tangible personal property or
3 services that are identifiable as being directly and solely
4 for export from or import into the United States or between
5 jurisdictions abroad;
6 3. The financing of contracts, projects, or activities
7 to be performed substantially abroad, except those
8 transactions secured by a mortgage, deed of trust, or other
9 lien upon real property located in the state;
10 4. The receipt of deposits or borrowings or the
11 extension of credit by an international banking facility,
12 except the loan or deposit of funds secured by a mortgage,
13 deed of trust, or other lien upon real property located in the
14 state; or
15 5. Entering into foreign exchange trading or hedging
16 transactions in connection with the activities described in
17 subparagraph 4.
18
19 Nothing in This subsection does not shall be construed to
20 change the application of paragraph (2)(a).
21 Section 15. Effective January 1, 2007, subsection (19)
22 of section 212.02, Florida Statutes, is amended to read:
23 212.02 Definitions.--The following terms and phrases
24 when used in this chapter have the meanings ascribed to them
25 in this section, except where the context clearly indicates a
26 different meaning:
27 (19) "Tangible personal property" means and includes
28 personal property that can which may be seen, weighed,
29 measured, or touched or is in any manner perceptible to the
30 senses, including electric power or energy, boats, motor
31 vehicles and mobile homes as defined in s. 320.01(1) and (2),
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1 aircraft as defined in s. 330.27, and all other types of
2 vehicles. The term "tangible personal property" does not
3 include stocks, bonds, notes, insurance, or other obligations
4 or securities,; intangibles as defined by the intangible tax
5 law of the state; or pari-mutuel tickets sold or issued under
6 the racing laws of the state.
7 Section 16. Effective January 1, 2007, subsection (4),
8 paragraphs (k) and (p) of subsection (7), and paragraph (a) of
9 subsection (14) of section 213.053, Florida Statutes, are
10 amended to read:
11 213.053 Confidentiality and information sharing.--
12 (4) Nothing contained in This section does not shall
13 prevent the department from publishing statistics so
14 classified as to prevent the identification of particular
15 accounts, reports, declarations, or returns or prevent the
16 department from disclosing to the Chief Financial Officer the
17 names and addresses of those taxpayers who have claimed an
18 exemption pursuant to s. 199.185(1)(i) or a deduction pursuant
19 to s. 220.63(5).
20 (7) Notwithstanding any other provision of this
21 section, the department may provide:
22 (k)1. Payment information relative to chapters 199,
23 201, 212, 220, 221, and 624 to the Office of Tourism, Trade,
24 and Economic Development, or its employees or agents that are
25 identified in writing by the office to the department, in the
26 administration of the tax refund program for qualified defense
27 contractors authorized by s. 288.1045 and the tax refund
28 program for qualified target industry businesses authorized by
29 s. 288.106.
30 2. Information relative to tax credits taken by a
31 business under s. 220.191 and exemptions or tax refunds
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1 received by a business under s. 212.08(5)(j) to the Office of
2 Tourism, Trade, and Economic Development, or its employees or
3 agents that are identified in writing by the office to the
4 department, in the administration and evaluation of the
5 capital investment tax credit program authorized in s. 220.191
6 and the semiconductor, defense, and space tax exemption
7 program authorized in s. 212.08(5)(j).
8 (p) Information relative to ss. 199.1055, 220.1845,
9 and 376.30781 to the Department of Environmental Protection in
10 the conduct of its official business.
11
12 Disclosure of information under this subsection shall be
13 pursuant to a written agreement between the executive director
14 and the agency. Such agencies, governmental or
15 nongovernmental, shall be bound by the same requirements of
16 confidentiality as the Department of Revenue. Breach of
17 confidentiality is a misdemeanor of the first degree,
18 punishable as provided by s. 775.082 or s. 775.083.
19 (14)(a) Notwithstanding any other provision of this
20 section, the department shall, subject to the safeguards
21 specified in paragraph (c), disclose to the Division of
22 Corporations of the Department of State the name, address,
23 federal employer identification number, and duration of tax
24 filings with this state of all corporate or partnership
25 entities which are not on file or have a dissolved status with
26 the Division of Corporations and which have filed tax returns
27 pursuant to either chapter 199 or chapter 220.
28 Section 17. Effective January 1, 2007, section
29 213.054, Florida Statutes, is amended to read:
30 213.054 Persons claiming tax exemptions or deductions;
31 annual report.--The Department of Revenue shall be responsible
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1 for monitoring the utilization of tax exemptions and tax
2 deductions authorized pursuant to chapter 81-179, Laws of
3 Florida. On or before September 1 of each year, the
4 department shall report to the Chief Financial Officer the
5 names and addresses of all persons who have claimed an
6 exemption pursuant to s. 199.185(1)(i) or a deduction pursuant
7 to s. 220.63(5).
8 Section 18. Effective January 1, 2007, section 213.27,
9 Florida Statutes, is amended to read:
10 213.27 Contracts with debt collection agencies and
11 certain vendors.--
12 (1) The Department of Revenue may, for the purpose of
13 collecting any delinquent taxes due from a taxpayer, including
14 taxes for which a bill or notice has been generated, contract
15 with any debt collection agency or attorney doing business
16 within or without this state for the collection of such
17 delinquent taxes including penalties and interest thereon. The
18 department may also share confidential information pursuant to
19 the contract necessary for the collection of delinquent taxes
20 and taxes for which a billing or notice has been generated.
21 Contracts will be made pursuant to chapter 287. The taxpayer
22 must be notified by mail by the department, its employees, or
23 its authorized representative 30 days prior to commencing any
24 litigation to recover any delinquent taxes. The taxpayer must
25 be notified by mail by the department 30 days prior to the
26 department assigning the collection of any taxes to the debt
27 collection agency.
28 (2) The department may enter into contracts with any
29 individual or business for the purpose of identifying
30 intangible personal property tax liability. Contracts may
31 provide for the identification of assets subject to the tax on
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1 intangible personal property, the determination of value of
2 such property, the requirement for filing a tax return and the
3 collection of taxes due, including applicable penalties and
4 interest thereon. The department may share confidential
5 information pursuant to the contract necessary for the
6 identification of taxable intangible personal property.
7 Contracts shall be made pursuant to chapter 287. The taxpayer
8 must be notified by mail by the department 30 days prior to
9 the department assigning identification of intangible personal
10 property to an individual or business.
11 (2)(3) Any contract may provide, in the discretion of
12 the executive director of the Department of Revenue, the
13 manner in which the compensation for such services will be
14 paid. Under standards established by the department, such
15 compensation shall be added to the amount of the tax and
16 collected as a part thereof by the agency or deducted from the
17 amount of tax, penalty, and interest actually collected.
18 (3)(4) All funds collected under the terms of the
19 contract, less the fees provided in the contract, shall be
20 remitted to the department within 30 days from the date of
21 collection from a taxpayer. Forms to be used for such purpose
22 shall be prescribed by the department.
23 (4)(5) The department shall require a bond from the
24 debt collection agency or the individual or business
25 contracted with under subsection (2) not in excess of $100,000
26 guaranteeing compliance with the terms of the contract.
27 However, a bond of $10,000 is required from a debt collection
28 agency if the agency does not actually collect and remit
29 delinquent funds to the department.
30 (5)(6) The department may, for the purpose of
31 ascertaining the amount of or collecting any taxes due from a
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1 person doing mail order business in this state, contract with
2 any auditing agency doing business within or without this
3 state for the purpose of conducting an audit of such mail
4 order business; however, such audit agency may not conduct an
5 audit on behalf of the department of any person domiciled in
6 this state, person registered for sales and use tax purposes
7 in this state, or corporation filing a Florida corporate tax
8 return, if any such person or corporation objects to such
9 audit in writing to the department and the auditing agency.
10 The department shall notify the taxpayer by mail at least 30
11 days before the department assigns the collection of such
12 taxes.
13 (6)(7) Confidential information shared by the
14 department with debt collection or auditing agencies or
15 individuals or businesses with which the department has
16 contracted under subsection (2) is exempt from the provisions
17 of s. 119.07(1), and debt collection or auditing agencies are
18 and individuals or businesses with which the department has
19 contracted under subsection (2) shall be bound by the same
20 requirements of confidentiality as the Department of Revenue.
21 Breach of confidentiality is a misdemeanor of the first
22 degree, punishable as provided by ss. 775.082 and 775.083.
23 (7)(8)(a) The executive director of the department may
24 enter into contracts with private vendors to develop and
25 implement systems to enhance tax collections where
26 compensation to the vendors is funded through increased tax
27 collections. The amount of compensation paid to a vendor
28 shall be based on a percentage of increased tax collections
29 attributable to the system after all administrative and
30 judicial appeals are exhausted, and the total amount of
31
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1 compensation paid to a vendor shall not exceed the maximum
2 amount stated in the contract.
3 (b) A person acting on behalf of the department under
4 a contract authorized by this subsection does not exercise any
5 of the powers of the department, except that the person is an
6 agent of the department for the purposes of developing and
7 implementing a system to enhance tax collection.
8 (c) Disclosure of information under this subsection
9 shall be pursuant to a written agreement between the executive
10 director and the private vendors. The vendors shall be bound
11 by the same requirements of confidentiality as the department.
12 Breach of confidentiality is a misdemeanor of the first
13 degree, punishable as provided in s. 775.082 or s. 775.083.
14 Section 19. Effective January 1, 2007, paragraph (d)
15 of subsection (6) of section 215.555, Florida Statutes, is
16 amended to read:
17 215.555 Florida Hurricane Catastrophe Fund.--
18 (6) REVENUE BONDS.--
19 (d) Florida Hurricane Catastrophe Fund Finance
20 Corporation.--
21 1. In addition to the findings and declarations in
22 subsection (1), the Legislature also finds and declares that:
23 a. The public benefits corporation created under this
24 paragraph will provide a mechanism necessary for the
25 cost-effective and efficient issuance of bonds. This mechanism
26 will eliminate unnecessary costs in the bond issuance process,
27 thereby increasing the amounts available to pay reimbursement
28 for losses to property sustained as a result of hurricane
29 damage.
30 b. The purpose of such bonds is to fund reimbursements
31 through the Florida Hurricane Catastrophe Fund to pay for the
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1 costs of construction, reconstruction, repair, restoration,
2 and other costs associated with damage to properties of
3 policyholders of covered policies due to the occurrence of a
4 hurricane.
5 c. The efficacy of the financing mechanism will be
6 enhanced by the corporation's ownership of the assessments, by
7 the insulation of the assessments from possible bankruptcy
8 proceedings, and by covenants of the state with the
9 corporation's bondholders.
10 2.a. There is created a public benefits corporation,
11 which is an instrumentality of the state, to be known as the
12 Florida Hurricane Catastrophe Fund Finance Corporation.
13 b. The corporation shall operate under a five-member
14 board of directors consisting of the Governor or a designee,
15 the Chief Financial Officer or a designee, the Attorney
16 General or a designee, the director of the Division of Bond
17 Finance of the State Board of Administration, and the senior
18 employee of the State Board of Administration responsible for
19 operations of the Florida Hurricane Catastrophe Fund.
20 c. The corporation has all of the powers of
21 corporations under chapter 607 and under chapter 617, subject
22 only to the provisions of this subsection.
23 d. The corporation may issue bonds and engage in such
24 other financial transactions as are necessary to provide
25 sufficient funds to achieve the purposes of this section.
26 e. The corporation may invest in any of the
27 investments authorized under s. 215.47.
28 f. There shall be no liability on the part of, and no
29 cause of action shall arise against, any board members or
30 employees of the corporation for any actions taken by them in
31 the performance of their duties under this paragraph.
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1 3.a. In actions under chapter 75 to validate any bonds
2 issued by the corporation, the notice required by s. 75.06
3 shall be published only in Leon County and in two newspapers
4 of general circulation in the state, and the complaint and
5 order of the court shall be served only on the State Attorney
6 of the Second Judicial Circuit.
7 b. The state hereby covenants with holders of bonds of
8 the corporation that the state will not repeal or abrogate the
9 power of the board to direct the Office of Insurance
10 Regulation to levy the assessments and to collect the proceeds
11 of the revenues pledged to the payment of such bonds as long
12 as any such bonds remain outstanding unless adequate provision
13 has been made for the payment of such bonds pursuant to the
14 documents authorizing the issuance of such bonds.
15 4. The bonds of the corporation are not a debt of the
16 state or of any political subdivision, and neither the state
17 nor any political subdivision is liable on such bonds. The
18 corporation does not have the power to pledge the credit, the
19 revenues, or the taxing power of the state or of any political
20 subdivision. The credit, revenues, or taxing power of the
21 state or of any political subdivision shall not be deemed to
22 be pledged to the payment of any bonds of the corporation.
23 5.a. The property, revenues, and other assets of the
24 corporation; the transactions and operations of the
25 corporation and the income from such transactions and
26 operations; and all bonds issued under this paragraph and
27 interest on such bonds are exempt from taxation by the state
28 and any political subdivision, including the intangibles tax
29 under chapter 199 and the income tax under chapter 220. This
30 exemption does not apply to any tax imposed by chapter 220 on
31 interest, income, or profits on debt obligations owned by
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1 corporations other than the Florida Hurricane Catastrophe Fund
2 Finance Corporation.
3 b. All bonds of the corporation shall be and
4 constitute legal investments without limitation for all public
5 bodies of this state; for all banks, trust companies, savings
6 banks, savings associations, savings and loan associations,
7 and investment companies; for all administrators, executors,
8 trustees, and other fiduciaries; for all insurance companies
9 and associations and other persons carrying on an insurance
10 business; and for all other persons who are now or may
11 hereafter be authorized to invest in bonds or other
12 obligations of the state and shall be and constitute eligible
13 securities to be deposited as collateral for the security of
14 any state, county, municipal, or other public funds. This
15 sub-subparagraph shall be considered as additional and
16 supplemental authority and shall not be limited without
17 specific reference to this sub-subparagraph.
18 6. The corporation and its corporate existence shall
19 continue until terminated by law; however, no such law shall
20 take effect as long as the corporation has bonds outstanding
21 unless adequate provision has been made for the payment of
22 such bonds pursuant to the documents authorizing the issuance
23 of such bonds. Upon termination of the existence of the
24 corporation, all of its rights and properties in excess of its
25 obligations shall pass to and be vested in the state.
26 Section 20. Effective January 1, 2007, section
27 220.1845, Florida Statutes, is amended to read:
28 220.1845 Contaminated site rehabilitation tax
29 credit.--
30 (1) AUTHORIZATION FOR TAX CREDIT; LIMITATIONS.--
31
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1 (a) A credit in the amount of 35 percent of the costs
2 of voluntary cleanup activity that is integral to site
3 rehabilitation at the following sites is available against any
4 tax due for a taxable year under this chapter:
5 1. A drycleaning-solvent-contaminated site eligible
6 for state-funded site rehabilitation under s. 376.3078(3);
7 2. A drycleaning-solvent-contaminated site at which
8 cleanup is undertaken by the real property owner pursuant to
9 s. 376.3078(11), if the real property owner is not also, and
10 has never been, the owner or operator of the drycleaning
11 facility where the contamination exists; or
12 3. A brownfield site in a designated brownfield area
13 under s. 376.80.
14 (b) A tax credit applicant, or multiple tax credit
15 applicants working jointly to clean up a single site, may not
16 be granted more than $250,000 per year in tax credits for each
17 site voluntarily rehabilitated. Multiple tax credit applicants
18 shall be granted tax credits in the same proportion as their
19 contribution to payment of cleanup costs. Subject to the same
20 conditions and limitations as provided in this section, a
21 municipality, county, or other tax credit applicant which
22 voluntarily rehabilitates a site may receive not more than
23 $250,000 per year in tax credits which it can subsequently
24 transfer subject to the provisions in paragraph (g) (h).
25 (c) If the credit granted under this section is not
26 fully used in any one year because of insufficient tax
27 liability on the part of the corporation, the unused amount
28 may be carried forward for a period not to exceed 5 years. The
29 carryover credit may be used in a subsequent year when the tax
30 imposed by this chapter for that year exceeds the credit for
31 which the corporation is eligible in that year under this
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1 section after applying the other credits and unused carryovers
2 in the order provided by s. 220.02(8). Five years after the
3 date a credit is granted under this section, such credit
4 expires and may not be used. However, if during the 5-year
5 period the credit is transferred, in whole or in part,
6 pursuant to paragraph (g) (h), each transferee has 5 years
7 after the date of transfer to use its credit.
8 (d) A taxpayer that files a consolidated return in
9 this state as a member of an affiliated group under s.
10 220.131(1) may be allowed the credit on a consolidated return
11 basis up to the amount of tax imposed upon the consolidated
12 group.
13 (e) A taxpayer that receives credit under s. 199.1055
14 is ineligible to receive credit under this section in a given
15 tax year.
16 (e)(f) A tax credit applicant that receives
17 state-funded site rehabilitation under s. 376.3078(3) for
18 rehabilitation of a drycleaning-solvent-contaminated site is
19 ineligible to receive credit under this section for costs
20 incurred by the tax credit applicant in conjunction with the
21 rehabilitation of that site during the same time period that
22 state-administered site rehabilitation was underway.
23 (f)(g) The total amount of the tax credits which may
24 be granted under this section and s. 199.1055 is $2 million
25 annually.
26 (g)(h)1. Tax credits that may be available under this
27 section to an entity eligible under s. 376.30781 may be
28 transferred after a merger or acquisition to the surviving or
29 acquiring entity and used in the same manner and with the same
30 limitations.
31
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1 2. The entity or its surviving or acquiring entity as
2 described in subparagraph 1., may transfer any unused credit
3 in whole or in units of no less than 25 percent of the
4 remaining credit. The entity acquiring such credit may use it
5 in the same manner and with the same limitation as described
6 in this section. Such transferred credits may not be
7 transferred again although they may succeed to a surviving or
8 acquiring entity subject to the same conditions and
9 limitations as described in this section.
10 3. If In the event the credit provided for under this
11 section is reduced either as a result of a determination by
12 the Department of Environmental Protection or an examination
13 or audit by the Department of Revenue, such tax deficiency
14 shall be recovered from the first entity, or the surviving or
15 acquiring entity, to have claimed such credit up to the amount
16 of credit taken. Any subsequent deficiencies shall be assessed
17 against any entity acquiring and claiming such credit, or in
18 the case of multiple succeeding entities in the order of
19 credit succession.
20 (h)(i) In order to encourage completion of site
21 rehabilitation at contaminated sites being voluntarily cleaned
22 up and eligible for a tax credit under this section, the tax
23 credit applicant may claim an additional 10 percent of the
24 total cleanup costs, not to exceed $50,000, in the final year
25 of cleanup as evidenced by the Department of Environmental
26 Protection issuing a "No Further Action" order for that site.
27 (2) FILING REQUIREMENTS.--Any corporation that wishes
28 to obtain credit under this section must submit with its
29 return a tax credit certificate approving partial tax credits
30 issued by the Department of Environmental Protection under s.
31 376.30781.
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1 (3) ADMINISTRATION; AUDIT AUTHORITY; TAX CREDIT
2 FORFEITURE.--
3 (a) The Department of Revenue may adopt rules to
4 prescribe any necessary forms required to claim a tax credit
5 under this section and to provide the administrative
6 guidelines and procedures required to administer this section.
7 (b) In addition to its existing audit and
8 investigation authority relating to chapter 199 and this
9 chapter, the Department of Revenue may perform any additional
10 financial and technical audits and investigations, including
11 examining the accounts, books, or records of the tax credit
12 applicant, which are necessary to verify the site
13 rehabilitation costs included in a tax credit return and to
14 ensure compliance with this section. The Department of
15 Environmental Protection shall provide technical assistance,
16 when requested by the Department of Revenue, on any technical
17 audits performed pursuant to this section.
18 (c) It is grounds for forfeiture of previously claimed
19 and received tax credits if the Department of Revenue
20 determines, as a result of either an audit or information
21 received from the Department of Environmental Protection, that
22 a taxpayer received tax credits pursuant to this section to
23 which the taxpayer was not entitled. In the case of fraud, the
24 taxpayer shall be prohibited from claiming any future tax
25 credits under this section or s. 199.1055.
26 1. The taxpayer is responsible for returning forfeited
27 tax credits to the Department of Revenue, and such funds shall
28 be paid into the General Revenue Fund of the state.
29 2. The taxpayer shall file with the Department of
30 Revenue an amended tax return or such other report as the
31 Department of Revenue prescribes by rule and shall pay any
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1 required tax within 60 days after the taxpayer receives
2 notification from the Department of Environmental Protection
3 pursuant to s. 376.30781 that previously approved tax credits
4 have been revoked or modified, if uncontested, or within 60
5 days after a final order is issued following proceedings
6 involving a contested revocation or modification order.
7 3. A notice of deficiency may be issued by the
8 Department of Revenue at any time within 5 years after the
9 date the taxpayer receives notification from the Department of
10 Environmental Protection pursuant to s. 376.30781 that
11 previously approved tax credits have been revoked or modified.
12 If a taxpayer fails to notify the Department of Revenue of any
13 change in its tax credit claimed, a notice of deficiency may
14 be issued at any time. In either case, the amount of any
15 proposed assessment set forth in such notice of deficiency
16 shall be limited to the amount of any deficiency resulting
17 under this section from the recomputation of the taxpayer's
18 tax for the taxable year.
19 4. Any taxpayer that fails to report and timely pay
20 any tax due as a result of the forfeiture of its tax credit is
21 in violation of this section and is subject to applicable
22 penalty and interest.
23 Section 21. Effective January 1, 2007, paragraph (b)
24 of subsection (2) of section 288.039, Florida Statutes, is
25 amended to read:
26 288.039 Employing and Training our Youths (ENTRY).--
27 (2) TAX REFUND; ELIGIBLE AMOUNTS.--
28 (b) After entering into an employment/tax refund
29 agreement under subsection (3), an eligible business may
30 receive refunds for the following taxes or fees due and paid
31 by that business:
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1 1. Taxes on sales, use, and other transactions under
2 chapter 212.
3 2. Corporate income taxes under chapter 220.
4 3. Intangible personal property taxes under chapter
5 199.
6 3.4. Emergency excise taxes under chapter 221.
7 4.5. Excise taxes on documents under chapter 201.
8 5.6. Ad valorem taxes paid, as defined in s.
9 220.03(1).
10 6.7. Insurance premium taxes under s. 624.509.
11 7.8. Occupational license fees under chapter 205.
12
13 However, an eligible business may not receive a refund under
14 this section for any amount of credit, refund, or exemption
15 granted to that business for any of such taxes or fees. If a
16 refund for such taxes or fees is provided by the office, which
17 taxes or fees are subsequently adjusted by the application of
18 any credit, refund, or exemption granted to the eligible
19 business other than as provided in this section, the business
20 shall reimburse the office for the amount of that credit,
21 refund, or exemption. An eligible business shall notify and
22 tender payment to the office within 20 days after receiving
23 any credit, refund, or exemption other than the one provided
24 in this section.
25 Section 22. Effective January 1, 2007, paragraph (f)
26 of subsection (2) and paragraphs (b), (c), and (d) of
27 subsection (3) of section 288.1045, Florida Statutes, are
28 amended to read:
29 288.1045 Qualified defense contractor tax refund
30 program.--
31 (2) GRANTING OF A TAX REFUND; ELIGIBLE AMOUNTS.--
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1 (f) After entering into a tax refund agreement
2 pursuant to subsection (4), a qualified applicant may receive
3 refunds from the Economic Development Trust Fund for the
4 following taxes due and paid by the qualified applicant
5 beginning with the applicant's first taxable year that begins
6 after entering into the agreement:
7 1. Taxes on sales, use, and other transactions paid
8 pursuant to chapter 212.
9 2. Corporate income taxes paid pursuant to chapter
10 220.
11 3. Intangible personal property taxes paid pursuant to
12 chapter 199.
13 3.4. Emergency excise taxes paid pursuant to chapter
14 221.
15 4.5. Excise taxes paid on documents pursuant to
16 chapter 201.
17 5.6. Ad valorem taxes paid, as defined in s.
18 220.03(1)(a) on June 1, 1996.
19
20 However, a qualified applicant may not receive a tax refund
21 pursuant to this section for any amount of credit, refund, or
22 exemption granted such contractor for any of such taxes. If a
23 refund for such taxes is provided by the office, which taxes
24 are subsequently adjusted by the application of any credit,
25 refund, or exemption granted to the qualified applicant other
26 than that provided in this section, the qualified applicant
27 shall reimburse the Economic Development Trust Fund for the
28 amount of such credit, refund, or exemption. A qualified
29 applicant must notify and tender payment to the office within
30 20 days after receiving a credit, refund, or exemption, other
31 than that provided in this section.
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1 (3) APPLICATION PROCESS; REQUIREMENTS; AGENCY
2 DETERMINATION.--
3 (b) Applications for certification based on the
4 consolidation of a Department of Defense contract or a new
5 Department of Defense contract must be submitted to the office
6 as prescribed by the office and must include, but are not
7 limited to, the following information:
8 1. The applicant's federal employer identification
9 number, the applicant's Florida sales tax registration number,
10 and a notarized signature of an officer of the applicant.
11 2. The permanent location of the manufacturing,
12 assembling, fabricating, research, development, or design
13 facility in this state at which the project is or is to be
14 located.
15 3. The Department of Defense contract numbers of the
16 contract to be consolidated, the new Department of Defense
17 contract number, or the "RFP" number of a proposed Department
18 of Defense contract.
19 4. The date the contract was executed or is expected
20 to be executed, and the date the contract is due to expire or
21 is expected to expire.
22 5. The commencement date for project operations under
23 the contract in this state.
24 6. The number of net new full-time equivalent Florida
25 jobs included in the project as of December 31 of each year
26 and the average wage of such jobs.
27 7. The total number of full-time equivalent employees
28 employed by the applicant in this state.
29 8. The percentage of the applicant's gross receipts
30 derived from Department of Defense contracts during the 5
31
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1 taxable years immediately preceding the date the application
2 is submitted.
3 9. The amount of:
4 a. Taxes on sales, use, and other transactions paid
5 pursuant to chapter 212;
6 b. Corporate income taxes paid pursuant to chapter
7 220;
8 c. Intangible personal property taxes paid pursuant to
9 chapter 199;
10 c.d. Emergency excise taxes paid pursuant to chapter
11 221;
12 d.e. Excise taxes paid on documents pursuant to
13 chapter 201; and
14 e.f. Ad valorem taxes paid
15
16 during the 5 fiscal years immediately preceding the date of
17 the application, and the projected amounts of such taxes to be
18 due in the 3 fiscal years immediately following the date of
19 the application.
20 10. The estimated amount of tax refunds to be claimed
21 for each fiscal year.
22 11. A brief statement concerning the applicant's need
23 for tax refunds, and the proposed uses of such refunds by the
24 applicant.
25 12. A resolution adopted by the county commissioners
26 of the county in which the project will be located, which
27 recommends the applicant be approved as a qualified applicant,
28 and which indicates that the necessary commitments of local
29 financial support for the applicant exist. Prior to the
30 adoption of the resolution, the county commission may review
31 the proposed public or private sources of such support and
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1 determine whether the proposed sources of local financial
2 support can be provided or, for any applicant whose project is
3 located in a county designated by the Rural Economic
4 Development Initiative, a resolution adopted by the county
5 commissioners of such county requesting that the applicant's
6 project be exempt from the local financial support
7 requirement.
8 13. Any additional information requested by the
9 office.
10 (c) Applications for certification based on the
11 conversion of defense production jobs to nondefense production
12 jobs must be submitted to the office as prescribed by the
13 office and must include, but are not limited to, the following
14 information:
15 1. The applicant's federal employer identification
16 number, the applicant's Florida sales tax registration number,
17 and a notarized signature of an officer of the applicant.
18 2. The permanent location of the manufacturing,
19 assembling, fabricating, research, development, or design
20 facility in this state at which the project is or is to be
21 located.
22 3. The Department of Defense contract numbers of the
23 contract under which the defense production jobs will be
24 converted to nondefense production jobs.
25 4. The date the contract was executed, and the date
26 the contract is due to expire or is expected to expire, or was
27 canceled.
28 5. The commencement date for the nondefense production
29 operations in this state.
30
31
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1 6. The number of net new full-time equivalent Florida
2 jobs included in the nondefense production project as of
3 December 31 of each year and the average wage of such jobs.
4 7. The total number of full-time equivalent employees
5 employed by the applicant in this state.
6 8. The percentage of the applicant's gross receipts
7 derived from Department of Defense contracts during the 5
8 taxable years immediately preceding the date the application
9 is submitted.
10 9. The amount of:
11 a. Taxes on sales, use, and other transactions paid
12 pursuant to chapter 212;
13 b. Corporate income taxes paid pursuant to chapter
14 220;
15 c. Intangible personal property taxes paid pursuant to
16 chapter 199;
17 c.d. Emergency excise taxes paid pursuant to chapter
18 221;
19 d.e. Excise taxes paid on documents pursuant to
20 chapter 201; and
21 e.f. Ad valorem taxes paid
22
23 during the 5 fiscal years immediately preceding the date of
24 the application, and the projected amounts of such taxes to be
25 due in the 3 fiscal years immediately following the date of
26 the application.
27 10. The estimated amount of tax refunds to be claimed
28 for each fiscal year.
29 11. A brief statement concerning the applicant's need
30 for tax refunds, and the proposed uses of such refunds by the
31 applicant.
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1 12. A resolution adopted by the county commissioners
2 of the county in which the project will be located, which
3 recommends the applicant be approved as a qualified applicant,
4 and which indicates that the necessary commitments of local
5 financial support for the applicant exist. Prior to the
6 adoption of the resolution, the county commission may review
7 the proposed public or private sources of such support and
8 determine whether the proposed sources of local financial
9 support can be provided or, for any applicant whose project is
10 located in a county designated by the Rural Economic
11 Development Initiative, a resolution adopted by the county
12 commissioners of such county requesting that the applicant's
13 project be exempt from the local financial support
14 requirement.
15 13. Any additional information requested by the
16 office.
17 (d) Applications for certification based on a contract
18 for reuse of a defense-related facility must be submitted to
19 the office as prescribed by the office and must include, but
20 are not limited to, the following information:
21 1. The applicant's Florida sales tax registration
22 number and a notarized signature of an officer of the
23 applicant.
24 2. The permanent location of the manufacturing,
25 assembling, fabricating, research, development, or design
26 facility in this state at which the project is or is to be
27 located.
28 3. The business entity holding a valid Department of
29 Defense contract or branch of the Armed Forces of the United
30 States that previously occupied the facility, and the date
31 such entity last occupied the facility.
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1 4. A copy of the contract to reuse the facility, or
2 such alternative proof as may be prescribed by the office that
3 the applicant is seeking to contract for the reuse of such
4 facility.
5 5. The date the contract to reuse the facility was
6 executed or is expected to be executed, and the date the
7 contract is due to expire or is expected to expire.
8 6. The commencement date for project operations under
9 the contract in this state.
10 7. The number of net new full-time equivalent Florida
11 jobs included in the project as of December 31 of each year
12 and the average wage of such jobs.
13 8. The total number of full-time equivalent employees
14 employed by the applicant in this state.
15 9. The amount of:
16 a. Taxes on sales, use, and other transactions paid
17 pursuant to chapter 212.
18 b. Corporate income taxes paid pursuant to chapter
19 220.
20 c. Intangible personal property taxes paid pursuant to
21 chapter 199.
22 c.d. Emergency excise taxes paid pursuant to chapter
23 221.
24 d.e. Excise taxes paid on documents pursuant to
25 chapter 201.
26 e.f. Ad valorem taxes paid during the 5 fiscal years
27 immediately preceding the date of the application, and the
28 projected amounts of such taxes to be due in the 3 fiscal
29 years immediately following the date of the application.
30 10. The estimated amount of tax refunds to be claimed
31 for each fiscal year.
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1 11. A brief statement concerning the applicant's need
2 for tax refunds, and the proposed uses of such refunds by the
3 applicant.
4 12. A resolution adopted by the county commissioners
5 of the county in which the project will be located, which
6 recommends the applicant be approved as a qualified applicant,
7 and which indicates that the necessary commitments of local
8 financial support for the applicant exist. Prior to the
9 adoption of the resolution, the county commission may review
10 the proposed public or private sources of such support and
11 determine whether the proposed sources of local financial
12 support can be provided or, for any applicant whose project is
13 located in a county designated by the Rural Economic
14 Development Initiative, a resolution adopted by the county
15 commissioners of such county requesting that the applicant's
16 project be exempt from the local financial support
17 requirement.
18 13. Any additional information requested by the
19 office.
20 Section 23. Effective January 1, 2007, paragraph (c)
21 of subsection (2) of section 288.106, Florida Statutes, is
22 amended to read:
23 288.106 Tax refund program for qualified target
24 industry businesses.--
25 (2) TAX REFUND; ELIGIBLE AMOUNTS.--
26 (c) After entering into a tax refund agreement under
27 subsection (4), a qualified target industry business may:
28 1. Receive refunds from the account for the following
29 taxes due and paid by that business beginning with the first
30 taxable year of the business which begins after entering into
31 the agreement:
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1 a. Corporate income taxes under chapter 220.
2 b. Insurance premium tax under s. 624.509.
3 2. Receive refunds from the account for the following
4 taxes due and paid by that business after entering into the
5 agreement:
6 a. Taxes on sales, use, and other transactions under
7 chapter 212.
8 b. Intangible personal property taxes under chapter
9 199.
10 b.c. Emergency excise taxes under chapter 221.
11 c.d. Excise taxes on documents under chapter 201.
12 d.e. Ad valorem taxes paid, as defined in s.
13 220.03(1).
14 Section 24. Effective January 1, 2007, paragraph (a)
15 of subsection (2) and subsections (3) and (12) of section
16 376.30781, Florida Statutes, are amended to read:
17 376.30781 Partial tax credits for rehabilitation of
18 drycleaning-solvent-contaminated sites and brownfield sites in
19 designated brownfield areas; application process; rulemaking
20 authority; revocation authority.--
21 (2)(a) A credit in the amount of 35 percent of the
22 costs of voluntary cleanup activity that is integral to site
23 rehabilitation at the following sites is allowed pursuant to
24 s. ss. 199.1055 and 220.1845:
25 1. A drycleaning-solvent-contaminated site eligible
26 for state-funded site rehabilitation under s. 376.3078(3);
27 2. A drycleaning-solvent-contaminated site at which
28 cleanup is undertaken by the real property owner pursuant to
29 s. 376.3078(11), if the real property owner is not also, and
30 has never been, the owner or operator of the drycleaning
31 facility where the contamination exists; or
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1 3. A brownfield site in a designated brownfield area
2 under s. 376.80.
3 (3) The Department of Environmental Protection shall
4 be responsible for allocating the tax credits provided for in
5 s. ss. 199.1055 and 220.1845, not to exceed a total of $2
6 million in tax credits annually.
7 (12) A tax credit applicant who receives state-funded
8 site rehabilitation under s. 376.3078(3) for rehabilitation of
9 a drycleaning-solvent-contaminated site is ineligible to
10 receive a tax credit under s. 199.1055 or s. 220.1845 for
11 costs incurred by the tax credit applicant in conjunction with
12 the rehabilitation of that site during the same time period
13 that state-administered site rehabilitation was underway.
14 Section 25. Effective January 1, 2007, subsection (13)
15 of section 493.6102, Florida Statutes, is amended to read:
16 493.6102 Inapplicability of this chapter.--This
17 chapter shall not apply to:
18 (13) Any individual employed as a security officer by
19 a church or ecclesiastical or denominational organization
20 having an established physical place of worship in this state
21 at which nonprofit religious services and activities are
22 regularly conducted or by a church cemetery religious
23 institution as defined in s. 199.183(2)(a) to provide security
24 on the institution property of the organization or cemetery,
25 and who does not carry a firearm in the course of her or his
26 duties.
27 Section 26. Effective January 1, 2007, paragraph (a)
28 of subsection (3) of section 516.031, Florida Statutes, is
29 amended to read:
30 516.031 Finance charge; maximum rates.--
31 (3) OTHER CHARGES.--
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1 (a) In addition to the interest, delinquency, and
2 insurance charges herein provided for, no further or other
3 charges or amount whatsoever for any examination, service,
4 commission, or other thing or otherwise shall be directly or
5 indirectly charged, contracted for, or received as a condition
6 to the grant of a loan, except:
7 1. An amount not to exceed $10 to reimburse a portion
8 of the costs for investigating the character and credit of the
9 person applying for the loan;
10 2. An annual fee of $25 on the anniversary date of
11 each line-of-credit account;
12 3. Charges paid for brokerage fee on a loan or line of
13 credit of more than $10,000, title insurance, and the
14 appraisal of real property offered as security when paid to a
15 third party and supported by an actual expenditure;
16 4. Intangible personal property tax on the loan note
17 or obligation when secured by a lien on real property;
18 4.5. The documentary excise tax and lawful fees, if
19 any, actually and necessarily paid out by the licensee to any
20 public officer for filing, recording, or releasing in any
21 public office any instrument securing the loan, which fees may
22 be collected when the loan is made or at any time thereafter;
23 5.6. The premium payable for any insurance in lieu of
24 perfecting any security interest otherwise required by the
25 licensee in connection with the loan, if the premium does not
26 exceed the fees which would otherwise be payable, which
27 premium may be collected when the loan is made or at any time
28 thereafter;
29 6.7. Actual and reasonable attorney's fees and court
30 costs as determined by the court in which suit is filed;
31
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1 7.8. Actual and commercially reasonable expenses of
2 repossession, storing, repairing and placing in condition for
3 sale, and selling of any property pledged as security; or
4 8.9. A delinquency charge not to exceed $10 for each
5 payment in default for a period of not less than 10 days, if
6 the charge is agreed upon, in writing, between the parties
7 before imposing the charge.
8
9 Any charges, including interest, in excess of the combined
10 total of all charges authorized and permitted by this chapter
11 constitute a violation of chapter 687 governing interest and
12 usury, and the penalties of that chapter apply. In the event
13 of a bona fide error, the licensee shall refund or credit the
14 borrower with the amount of the overcharge immediately but
15 within 20 days from the discovery of such error.
16 Section 27. Effective January 1, 2007, paragraph (m)
17 of subsection (5) of section 627.311, Florida Statutes, is
18 amended to read:
19 627.311 Joint underwriters and joint reinsurers;
20 public records and public meetings exemptions.--
21 (5)
22 (m) Each joint underwriting plan or association
23 created under this section is not a state agency, board, or
24 commission. However, for the purposes of s. 199.183(1) only,
25 the joint underwriting plan is a political subdivision of the
26 state and is exempt from the corporate income tax.
27 Section 28. Effective January 1, 2007, paragraph (j)
28 of subsection (6) of section 627.351, Florida Statutes, is
29 amended to read:
30 627.351 Insurance risk apportionment plans.--
31 (6) CITIZENS PROPERTY INSURANCE CORPORATION.--
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1 (j) For the purposes of s. 199.183(1), The corporation
2 shall be considered a political subdivision of the state and
3 shall be exempt from the corporate income tax. The premiums,
4 assessments, investment income, and other revenue of the
5 corporation are funds received for providing property
6 insurance coverage as required by this subsection, paying
7 claims for Florida citizens insured by the corporation,
8 securing and repaying debt obligations issued by the
9 corporation, and conducting all other activities of the
10 corporation, and shall not be considered taxes, fees,
11 licenses, or charges for services imposed by the Legislature
12 on individuals, businesses, or agencies outside state
13 government. Bonds and other debt obligations issued by or on
14 behalf of the corporation are not to be considered "state
15 bonds" within the meaning of s. 215.58(8). The corporation is
16 not subject to the procurement provisions of chapter 287, and
17 policies and decisions of the corporation relating to
18 incurring debt, levying of assessments and the sale, issuance,
19 continuation, terms and claims under corporation policies, and
20 all services relating thereto, are not subject to the
21 provisions of chapter 120. The corporation is not required to
22 obtain or to hold a certificate of authority issued by the
23 office, nor is it required to participate as a member insurer
24 of the Florida Insurance Guaranty Association. However, the
25 corporation is required to pay, in the same manner as an
26 authorized insurer, assessments pledged by the Florida
27 Insurance Guaranty Association to secure bonds issued or other
28 indebtedness incurred to pay covered claims arising from
29 insurer insolvencies caused by, or proximately related to,
30 hurricane losses. It is the intent of the Legislature that the
31 tax exemptions provided in this paragraph will augment the
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1 financial resources of the corporation to better enable the
2 corporation to fulfill its public purposes. Any bonds issued
3 by the corporation, their transfer, and the income therefrom,
4 including any profit made on the sale thereof, shall at all
5 times be free from taxation of every kind by the state and any
6 political subdivision or local unit or other instrumentality
7 thereof; however, this exemption does not apply to any tax
8 imposed by chapter 220 on interest, income, or profits on debt
9 obligations owned by corporations other than the corporation.
10 Section 29. Effective January 1, 2007, paragraph (b)
11 of subsection (4) of section 650.05, Florida Statutes, is
12 amended to read:
13 650.05 Plans for coverage of employees of political
14 subdivisions.--
15 (4)
16 (b) The grants-in-aid and other revenue referred to in
17 paragraph (a) specifically include, but are not limited to,
18 minimum foundation program grants to public school districts
19 and community colleges; gasoline, motor fuel, intangible,
20 cigarette, racing, and insurance premium taxes distributed to
21 political subdivisions; and amounts specifically appropriated
22 as grants-in-aid for mental health, mental retardation, and
23 mosquito control programs.
24 Section 30. Effective January 1, 2007, subsection (1)
25 of section 655.071, Florida Statutes, is amended to read:
26 655.071 International banking facilities; definitions;
27 notice before establishment.--
28 (1)(a) The term "International banking facility" means
29 a set of asset and liability accounts segregated on the books
30 and records of a banking organization and, as that term is
31 defined in s. 199.023, that includes only international
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1 banking facility deposits, borrowings, and extensions of
2 credit, as those terms shall be defined by the commission
3 pursuant to subsection (2).
4 (b) As used in paragraph (a), the term "banking
5 organization" means:
6 1. A bank organized and existing under the laws of
7 this state;
8 2. A national bank organized and existing under the
9 National Bank Act, 12 U.S.C. ss. 21 et seq., and maintaining
10 its principal office in this state;
11 3. An Edge Act corporation organized under s. 25(a) of
12 the Federal Reserve Act, 12 U.S.C. ss. 611 et seq., and
13 maintaining an office in this state;
14 4. An international bank agency licensed under the
15 laws of this state;
16 5. A federal agency licensed under ss. 4 and 5 of the
17 International Banking Act of 1978 to maintain an office in
18 this state;
19 6. A savings association organized and existing under
20 the laws of this state;
21 7. A federal association organized and existing under
22 the Home Owners' Loan Act of 1933, 12 U.S.C. ss. 1461 et seq.,
23 and maintaining its principal office in this state; or
24 8. A Florida export finance corporation organized and
25 existing under part V of chapter 288.
26 Section 31. Subsections (5) and (6) of section
27 733.702, Florida Statutes, are amended to read:
28 733.702 Limitations on presentation of claims.--
29 (5) The Department of Revenue may file a claim against
30 the estate of a decedent for taxes due under chapter 199 after
31 the expiration of the time for filing claims provided in
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1 subsection (1), if the department files its claim within 30
2 days after the service of the inventory. Upon filing of the
3 estate tax return with the department as provided in s.
4 198.13, or to the extent the inventory or estate tax return is
5 amended or supplemented, the department has the right to file
6 a claim or to amend its previously filed claim within 30 days
7 after service of the estate tax return, or an amended or
8 supplemented inventory or filing of an amended or supplemental
9 estate tax return, as to the additional information disclosed.
10 (5)(6) Nothing in This section does not shall extend
11 the limitations period set forth in s. 733.710.
12 Section 32. Effective January 1, 2007, paragraph (a)
13 of subsection (1) of section 766.105, Florida Statutes, is
14 amended to read:
15 766.105 Florida Patient's Compensation Fund.--
16 (1) DEFINITIONS.--The following definitions apply in
17 the interpretation and enforcement of this section:
18 (a) The term "fund" means the Florida Patient's
19 Compensation Fund. The fund is not a state agency, board, or
20 commission. However, for the purposes of s. 199.183(1) only,
21 the fund shall be considered a political subdivision of this
22 state.
23 Section 33. Except as otherwise expressly provided in
24 this act, this act shall take effect January 1, 2006.
25
26 *****************************************
27 SENATE SUMMARY
28 Provides for the gradual reduction of the annual rate of
the tax on intangible personal property. Provides for the
29 repeal of the tax effective January 1, 2007. Provides
that the taxes levied for calendar year 2006 and before
30 remain in effect and collectible. Authorizes the
executive director of the Department of Revenue to adopt
31 emergency rules.
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