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The Committee on Commerce (Saunders) recommended the following

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amendment:

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     Senate Amendment

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     Delete line(s) 41-77

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and insert:

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aircraft owned or leased by the business or affiliated group, as

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defined by s. 1504(a) of the Internal Revenue Code of 1986, as

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amended, providing the program. Such aircraft shall be used in

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the fractional aircraft ownership program providing the program.

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     Section 2.  Subsection (19) is added to section 212.08,

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Florida Statutes, to read:

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     212.08  Sales, rental, use, consumption, distribution, and

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storage tax; specified exemptions.--The sale at retail, the

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rental, the use, the consumption, the distribution, and the

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storage to be used or consumed in this state of the following

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are hereby specifically exempt from the tax imposed by this

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chapter.

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     (19) FRACTIONAL AIRCRAFT OWNERSHIP PROGRAMS.--Also exempt

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from the tax imposed by this chapter is the sale or use of:

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     (a) Aircraft for primary use in a fractional aircraft

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ownership program.

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     (b) Any parts or labor used in the completion,

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maintenance, repair, or overhaul of aircraft for primary use in

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a fractional aircraft ownership program.

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The exemptions provided in paragraphs (a) and (b) are not

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allowed unless the purchaser or lessee furnishes the dealer with

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a certificate stating that the lease, purchase, repair, or

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maintenance to be exempted is for aircraft for primary use in a

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fractional aircraft ownership program and that the purchaser or

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lessee otherwise qualifies for the exemption as provided in this

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subsection. If a purchaser or lessee makes tax-exempt purchases

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on a continual basis, the purchaser or lessee may tender the

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certificate once and allow the dealer to keep the certificate on

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file. The purchaser or lessee shall inform the dealer that has a

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certificate on file when the purchaser or lessee no longer

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qualifies for the exemption. The department shall determine the

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format of the certificate.

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     Section 3.  Section 212.0597, Florida Statutes, is created

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to read:

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     212.0597 Maximum tax on fractional aircraft ownership

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interests.--The tax imposed under this chapter, including any

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discretionary sales surtax under s. 212.055, shall be limited to

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$300 on the sale or use in this state of a fractional ownership

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interest in aircraft pursuant to a fractional aircraft ownership

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program. This maximum tax

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program. This maximum tax

2/15/2008  2:40:00 PM     577-03964-08