Florida Senate - 2009                        COMMITTEE AMENDMENT
       Bill No. SB 2578
       
       
       
       
       
       
                                Barcode 639110                          
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                  Comm: RCS            .                                
                  04/20/2009           .                                
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       The Committee on Finance and Tax (Altman) recommended the
       following:
       
    1         Senate Substitute for Amendment (129586) (with title
    2  amendment)
    3  
    4  
    5         Delete lines 897 - 930
    6  and insert:
    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
   15  provide, to the extent allowable by law, for each calendar
   16  quarter the name, record address, social security number or
   17  other taxpayer identification number, average daily account
   18  balance, and other identifying information for:
   19         1. Each obligor who maintains an account at the financial
   20  institution as identified to the institution by the department
   21  by name and social security number or other taxpayer
   22  identification number; or
   23         2. At the financial institution’s option, each person who
   24  maintains an account at the institution.
   25         (b) The department may pursue agreements described in
   26  paragraph (a) with financial institutions doing business in this
   27  state which have less than $50 million in deposits.
   28         (3) The department may use the information received
   29  pursuant to this section only for the purpose of enforcing the
   30  collection of taxes and fees administered by the department.
   31         (4) The department shall, to the extent possible and in
   32  compliance with state and federal law, administer this section
   33  in conjunction with s. 409.25657 in order to avoid duplication
   34  and reduce the burden on financial institutions.
   35         (5) The department shall pay a reasonable fee to the
   36  financial institution for conducting the data match provided for
   37  in this section, which may not exceed actual costs incurred by
   38  the financial institution.
   39         (6) A financial institution is not required to provide
   40  notice to its customers and is not liable to any person for:
   41         (a) Disclosing to the department any information required
   42  under this section.
   43         (b) Encumbering or surrendering any assets held by the
   44  financial institution in response to a notice of lien or levy
   45  issued by the department.
   46  
   47  ================= T I T L E  A M E N D M E N T ================
   48         And the title is amended as follows:
   49         Delete line 1938
   50  and insert:
   51  enter into information-sharing agreement with certain