| 1 | Representative Llorente offered the following: |
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| 3 | Amendment (with title amendment) |
| 4 | Between lines 57 and 58, insert: |
| 5 | Section 2. Subsections (4) and (5) are added to section |
| 6 | 202.29, Florida Statutes, to read: |
| 7 | 202.29 Bad debts.-- |
| 8 | (4) A taxpayer may report the credit for bad debt allowed |
| 9 | under this section by netting such credit against the tax due to |
| 10 | the state pursuant to s. 202.12 or to a local jurisdiction |
| 11 | pursuant to s. 202.19, but such netting may not reduce the |
| 12 | amount due to the state or to any local jurisdiction below zero. |
| 13 | (5) For purposes of determining the amount of bad debt |
| 14 | that is attributable to the state or to a local jurisdiction, a |
| 15 | taxpayer may employ a proportionate allocation method based on |
| 16 | current gross taxes due or another reasonable allocation method |
| 17 | approved by the department. |
| 18 | Section 3. The amendments made by this act to s. 202.29, |
| 19 | Florida Statutes, shall be effective as if originally enacted in |
| 20 | chapter 2000-260, Laws of Florida; however, the retroactive |
| 21 | application of such section is remedial in nature, does not |
| 22 | create a right to a refund, and does not require a refund by any |
| 23 | governmental entity of any tax, penalty, or interest remitted to |
| 24 | the Department of Revenue before July 1, 2008. |
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| 29 | ----------------------------------------------------- |
| 30 | T I T L E A M E N D M E N T |
| 31 | Remove line 11 and insert: |
| 32 | or cause such a certificate to be denied; amending s. 202.29, |
| 33 | F.S.; providing that credit may be netted against bad debt by a |
| 34 | proportionate allocation method or other reasonable method; |
| 35 | providing for retroactive application; specifying that certain |
| 36 | provisions of the act are remedial in nature and are not a basis |
| 37 | for refunds of tax for periods before July 1, 2008; providing an |
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