| 1 | Representative(s) Ryan offered the following: |
| 2 |
|
| 3 | Amendment (with title amendment) |
| 4 | Remove everything after the enacting clause, and insert: |
| 5 | Section 1. Subsection (2) of section 199.185, Florida |
| 6 | Statutes, is amended to read: |
| 7 | 199.185 Property exempted from annual and nonrecurring |
| 8 | taxes.-- |
| 9 | (2) Every natural person is entitled each year to an |
| 10 | exemption of the first $1 million $250,000 of the value of |
| 11 | property otherwise subject to the annual tax. A husband and wife |
| 12 | filing jointly shall have an exemption of $2 million $500,000. |
| 13 | Every taxpayer that is not a natural person is entitled each |
| 14 | year to an exemption of the first $1 million $250,000 of the |
| 15 | value of property otherwise subject to the tax. Agents and |
| 16 | fiduciaries, other than guardians and custodians under a gifts- |
| 17 | to-minors act, filing as such may not claim this exemption on |
| 18 | behalf of their principals or beneficiaries; however, if the |
| 19 | principal or beneficiary returns the property held by the agent |
| 20 | or fiduciary and is a natural person, the principal or |
| 21 | beneficiary may claim the exemption. No taxpayer shall be |
| 22 | entitled to more than one exemption under this subsection. This |
| 23 | exemption shall not apply to that intangible personal property |
| 24 | described in s. 199.023(1)(d). |
| 25 | Section 2. This act shall take effect upon becoming a law. |
| 26 |
|
| 27 | ================ T I T L E A M E N D M E N T ============= |
| 28 | Remove the entire title, and insert: |
| 29 | A bill to be entitled |
| 30 | An act relating to the annual intangible personal property |
| 31 | tax; amending s. 199.185, F.S.; increasing the exempt |
| 32 | value of property subject to the tax; providing an |
| 33 | effective date. |