SENATE AMENDMENT
    Bill No. HB 21, 1st Eng.
    Amendment No. ___   Barcode 153196
                            CHAMBER ACTION
              Senate                               House
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11  Senator Carlton moved the following amendment to substitute
12  amendment (112476):
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14         Senate Amendment (with title amendment) 
15         On page 1, line 15, through
16            page 4, line 5, delete those lines
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18  and insert:  
19         Section 1.  Subsection (2) of section 199.185, Florida
20  Statutes, is amended to read:
21         199.185  Property exempted from annual and nonrecurring
22  taxes.--
23         (2)  Every natural person is entitled each year to an
24  exemption of the first $250,000 $20,000 of the value of
25  property otherwise subject to the annual tax.  A husband and
26  wife filing jointly shall have an exemption of $500,000
27  $40,000.  Every taxpayer that is not a natural person is
28  entitled each year to an exemption of the first $250,000 of
29  the value of property otherwise subject to the tax.  Agents
30  and fiduciaries, other than guardians and custodians under a
31  gifts-to-minors act, filing as such may not claim this
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    11:35 AM   05/04/01                               h0021c-24m0a


                                                  SENATE AMENDMENT
    Bill No. HB 21, 1st Eng.
    Amendment No. ___   Barcode 153196
 1  exemption on behalf of their principals or beneficiaries;
 2  however, if the principal or beneficiary returns the property
 3  held by the agent or fiduciary and is a natural person, the
 4  principal or beneficiary may claim the exemption.  No taxpayer
 5  shall be entitled to more than one exemption under this
 6  subsection.  This exemption shall not apply to that intangible
 7  personal property described in s. 199.023(1)(d).
 8         Section 2.  This act shall take effect January 1, 2002.
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11  ================ T I T L E   A M E N D M E N T ===============
12  And the title is amended as follows:
13         On page 4, lines 11-24, delete those lines
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15  and insert:
16                      A bill to be entitled
17         An act relating to intangible personal property
18         taxes; amending s. 199.185, F.S.; increasing
19         exemptions for taxpayers who are natural
20         persons; creating exemptions for taxpayers who
21         are not natural persons; providing an effective
22         date.
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    11:35 AM   05/04/01                               h0021c-24m0a