| 1 | The Finance & Tax Committee recommends the following: |
| 2 |
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| 3 | Council/Committee Substitute |
| 4 | Remove the entire bill and insert: |
| 5 |
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| 6 | A bill to be entitled |
| 7 | An act relating to the assessment of obsolete agricultural |
| 8 | equipment for purposes of ad valorem taxation; providing |
| 9 | for agricultural equipment located on lands classified as |
| 10 | agricultural pursuant to s. 193.461, F.S., and no longer |
| 11 | usable for its intended purpose to be assessed at its |
| 12 | value as salvage; providing an effective date. |
| 13 |
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| 14 | Be It Enacted by the Legislature of the State of Florida: |
| 15 |
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| 16 | Section 1. Assessment of obsolete agricultural |
| 17 | equipment.--For purposes of ad valorem property taxation, |
| 18 | agricultural equipment that is located on property classified as |
| 19 | agricultural pursuant to s. 193.461, Florida Statutes, and that |
| 20 | is no longer usable for its intended purpose shall be deemed to |
| 21 | have a market value no greater than its value for salvage. |
| 22 | Section 2. This act shall take effect January 1, 2007. |