Florida Senate - 2012                        COMMITTEE AMENDMENT
       Bill No. SB 1304
       
       
       
       
       
       
                                Barcode 840698                          
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                  Comm: RCS            .                                
                  01/24/2012           .                                
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       The Committee on Budget Subcommittee on Finance and Tax (Altman)
       recommended the following:
       
    1         Senate Amendment (with title amendment)
    2  
    3         Between lines 479 and 480
    4  insert:
    5         Section 7. Paragraph (b) of subsection (1) of section
    6  220.153, Florida Statutes, is amended to read:
    7         220.153 Apportionment by sales factor.—
    8         (1) DEFINITIONS.—As used in this section, the term:
    9         (b) “Qualified capital expenditures” means expenditures in
   10  this state for purposes substantially related to a business’s
   11  production or sale of goods or services. The expenditure must
   12  fund the acquisition of additional real property (land,
   13  buildings, including appurtenances, fixtures and fixed
   14  equipment, structures, etc.), including additions, replacements,
   15  major repairs, and renovations to real property which materially
   16  extend its useful life or materially improve or change its
   17  functional use and the furniture and equipment necessary to
   18  furnish and operate a new or improved facility. The term
   19  “qualified capital expenditures” does not include an expenditure
   20  for a passive investment or for an investment intended for the
   21  accumulation of reserves or the realization of profit for
   22  distribution to any person holding an ownership interest in the
   23  business. The term “qualified capital expenditures” does not
   24  include expenditures to acquire an existing business or
   25  expenditures in excess of $125 million to acquire land or
   26  buildings.
   27  
   28  ================= T I T L E  A M E N D M E N T ================
   29         And the title is amended as follows:
   30         Delete line 34
   31  and insert:
   32         Contraband Forfeiture Act; amending s. 220.153, F.S.;
   33         redefining the term “qualified capital expenditures”
   34         for purposes of apportionment by sales factor;
   35         amending s. 322.142, F.S.;