Florida Senate - 2013                        COMMITTEE AMENDMENT
       Bill No. SB 306
       
       
       
       
       
       
                                Barcode 207262                          
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                  Comm: FAV            .                                
                  03/06/2013           .                                
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       Appropriations Subcommittee on Finance and Tax (Hukill)
       recommended the following:
       
    1         Senate Amendment (with title amendment)
    2  
    3         Before line 48
    4  insert:
    5         Section 1. Subsection (2) of section 220.153, Florida
    6  Statutes, is amended to read:
    7         220.153 Apportionment by sales factor.—
    8         (2) APPORTIONMENT OF TAXES; ELIGIBILITY.—A taxpayer, not
    9  including a financial organization as defined in s. 220.15(6) or
   10  a bank, savings association, international banking facility, or
   11  banking organization as defined in s. 220.62, doing business
   12  within and without this state, who applies and demonstrates to
   13  the Department of Economic Opportunity that, within a 2-year
   14  period beginning on or after July 1, 2011, it has made qualified
   15  capital expenditures equal to or exceeding $250 million may
   16  apportion its adjusted federal income solely by the sales factor
   17  set forth in s. 220.15(5), commencing in the taxable year that
   18  the Department of Economic Opportunity approves the application,
   19  but not before a taxable year that begins on or after January 1,
   20  2013. Once approved, a taxpayer may elect to apportion its
   21  adjusted federal income for any taxable year using the method
   22  provided under this section or the method provided under s.
   23  220.15.
   24         Section 2. Subsections (3) and (5) of section 220.62,
   25  Florida Statutes, are repealed.
   26         Section 3. Subsection (5) of section 220.63, Florida
   27  Statutes, is repealed.
   28  
   29  ================= T I T L E  A M E N D M E N T ================
   30         And the title is amended as follows:
   31         Delete line 2
   32  and insert:
   33         An act relating to economic development; amending s.
   34         220.153, F.S.; conforming a cross-reference; repealing
   35         s. 220.62(3) and (5), F.S., relating to the definition
   36         of the terms “international banking facility” and
   37         “foreign person” in the income tax code; repealing s.
   38         220.63(5), F.S., relating to an income tax deduction
   39         for international banking facilities;