Florida Senate - 2009                        COMMITTEE AMENDMENT
       Bill No. SB 2578
       
       
       
       
       
       
                                Barcode 129586                          
       
                              LEGISLATIVE ACTION                        
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       The Committee on Finance and Tax (Altman) recommended the
       following:
       
    1         Senate Amendment to Amendment (224676) (with title
    2  amendment)
    3  
    4         Delete lines 897 - 930
    5  and insert:
    6  
    7         (2) The department shall request information and assistance
    8  from a financial institution as necessary to enforce the tax
    9  laws of the state.
   10         (a) Financial institutions doing business in the state and
   11  having deposits of $50 million or more shall enter into
   12  agreements with the department to develop and operate a data
   13  match system, using an automated data exchange to the maximum
   14  extent feasible, in which the financial institution must provide
   15  for each calendar quarter the name, record address, social
   16  security number or other taxpayer identification number, average
   17  daily account balance, and other identifying information for:
   18         1. Each obligor who maintains an account at the financial
   19  institution as identified to the institution by the department
   20  by name and social security number or other taxpayer
   21  identification number; or
   22         2. At the financial institution’s option, each person who
   23  maintains an account at the institution.
   24         (b) The department may pursue agreements described in
   25  paragraph (a) with financial institutions doing business in this
   26  state which have less than $50 million in deposits.
   27         (3) The department may use the information received
   28  pursuant to this section only for the purpose of enforcing the
   29  collection of taxes and fees administered by the department.
   30         (4) The department shall, to the extent possible and in
   31  compliance with state and federal law, administer this section
   32  in conjunction with s. 409.25657 in order to avoid duplication
   33  and reduce the burden on financial institutions.
   34         (5) The department shall pay a reasonable fee to the
   35  financial institution for conducting the data match provided for
   36  in this section, which may not exceed actual costs incurred by
   37  the financial institution.
   38         (6) A financial institution is not required to provide
   39  notice to its customers and is not liable to any person for:
   40         (a) Disclosing to the department any information required
   41  under this section.
   42         (b) Encumbering or surrendering any assets held by the
   43  financial institution in response to a notice of lien or levy
   44  issued by the department.
   45  
   46  ================= T I T L E  A M E N D M E N T ================
   47         And the title is amended as follows:
   48         Delete line 1938
   49  and insert:
   50  
   51  enter into information-sharing agreement with certain