Senate Bill sb2348c1

    Florida Senate - 2005                           CS for SB 2348

    By the Committee on Government Efficiency Appropriations; and
    Senators Haridopolos, Wise, Peaden, Argenziano, Lynn, Fasano,
    Dockery, Sebesta, Baker, Bennett, Constantine, Atwater,
    Campbell, Saunders, Posey, Webster, Diaz de la Portilla, King,
    Alexander, Jones, Crist and Lawson

    593-2335-05

  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; providing

  5         an effective date.

  6  

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

  8  

  9         Section 1.  Section 199.032, Florida Statutes, is

10  amended to read:

11         199.032  Levy of annual tax.--Beginning January 1,

12  2006, an annual tax of 0.5 1 mill is imposed on each dollar of

13  the just valuation of all intangible personal property that

14  has a taxable situs in this state, except for notes and other

15  obligations for the payment of money, other than bonds, which

16  are secured by mortgage, deed of trust, or other lien upon

17  real property situated in the state. This tax shall be

18  assessed and collected as provided in this chapter.

19         Section 2.  This act shall take effect January 1, 2006.

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21          STATEMENT OF SUBSTANTIAL CHANGES CONTAINED IN
                       COMMITTEE SUBSTITUTE FOR
22                             SB 2348

23                                 

24  The committee substitute reduces the annual intangibles tax
    rate by one-half, from 1 mill to 0.5 mill, effective January
25  1, 2006.  It does not repeal the tax effective January 1,
    2007.
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CODING: Words stricken are deletions; words underlined are additions.