Florida Senate - 2020                          SENATOR AMENDMENT
       Bill No. CS/HB 7097, 1st Eng.
       
       
       
       
       
       
                                Ì236750$Î236750                         
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
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                 Floor: NC/2R          .                                
             03/12/2020 07:01 PM       .                                
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       Senator Rodriguez moved the following:
       
    1         Senate Amendment to Amendment (882296) (with title
    2  amendment)
    3  
    4         Between lines 3370 and 3371
    5  insert:
    6         Section 72. The Office of Program Policy Analysis and
    7  Government Accountability shall, within existing resources,
    8  prepare a report that analyzes the effect of the adoption of
    9  water’s-edge combined reporting for affiliated domestic
   10  companies that are engaged in unitary business. The report
   11  shall, at a minimum:
   12         (1) Estimate the effect of the adoption of the combined
   13  reporting on the capture of new revenues.
   14         (2) Estimate the effect of the capture of new revenues on
   15  the refunds authorized in s. 220.1105, Florida Statutes.
   16         (3) Identify changes in the combined reporting that would
   17  promote efficiency or clarity in applying the combined
   18  reporting.
   19         (4) Estimate the maximum feasible rate reduction in the
   20  sales tax on commercial leases if s. 220.1105, Florida Statutes,
   21  was repealed and additional revenues were captured as a result
   22  of the adoption of the combined reporting.
   23         (5) Estimate future rate reductions to the corporate income
   24  tax if revenue neutrality was maintained.
   25         (6) Examine the effect of the combined reporting on the
   26  largest, median, and smallest corporate income taxpayers, or, if
   27  such taxpayers cannot be ascertained, include representative
   28  estimates.
   29  
   30  The Office of Program Policy Analysis and Government
   31  Accountability must submit the report to the Governor, the
   32  President of the Senate, and the Speaker of the House of
   33  Representatives by January 1, 2021.
   34  
   35  ================= T I T L E  A M E N D M E N T ================
   36  And the title is amended as follows:
   37         Between lines 3720 and 3721
   38  insert:
   39         requiring the Office of Program Policy Analysis and
   40         Government Accountability to prepare a specified
   41         report relating to water’s-edge combined reporting for
   42         corporate income tax purposes and submit it to the
   43         Governor and the Legislature by a specified date;