Senate Bill sb0018E

    Florida Senate - 2002                                  SB 18-E

    By Senators Clary and Pruitt





    27-2371B-02

  1                      A bill to be entitled

  2         An act relating to the corporate income tax;

  3         adopting provisions of the Job Creation and

  4         Workers Assistance Act of 2002, Pub. L. No.

  5         107-147, as codified in the Internal Revenue

  6         Code; amending s. 220.03, F. S.; providing for

  7         the adoption of the 2002 version of the

  8         Internal Revenue Code; providing for

  9         construction of the act in pari materia with

10         other acts enacted at the 2002 Regular Session;

11         providing for retroactive application;

12         providing an effective date.

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14  Be It Enacted by the Legislature of the State of Florida:

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16         Section 1.  For purposes of chapter 220, Florida

17  Statutes, it is the intent of the Legislature by this section

18  to adopt the Job Creation and Worker Assistance Act of 2002,

19  Pub. L. No. 107-147, and make those provisions effective for

20  purposes of chapter 220, Florida Statutes, to the extent that

21  such provisions are taken into account in the computation of

22  net income subject to tax therein.

23         Section 2.  Paragraph (n) of subsection (1) and

24  paragraph (c) of subsection (2) of section 220.03, Florida

25  Statutes, are amended to read:

26         220.03  Definitions.--

27         (1)  SPECIFIC TERMS.--When used in this code, and when

28  not otherwise distinctly expressed or manifestly incompatible

29  with the intent thereof, the following terms shall have the

30  following meanings:

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CODING: Words stricken are deletions; words underlined are additions.






    Florida Senate - 2002                                  SB 18-E
    27-2371B-02




  1         (n)  "Internal Revenue Code" means the United States

  2  Internal Revenue Code of 1986, as amended and in effect on

  3  January 1, 2002 2001, except as provided in subsection (3).

  4         (2)  DEFINITIONAL RULES.--When used in this code and

  5  neither otherwise distinctly expressed nor manifestly

  6  incompatible with the intent thereof:

  7         (c)  Any term used in this code shall have the same

  8  meaning as when used in a comparable context in the Internal

  9  Revenue Code and other statutes of the United States relating

10  to federal income taxes, as such code and statutes are in

11  effect on January 1, 2002 2001. However, if subsection (3) is

12  implemented, the meaning of any term shall be taken at the

13  time the term is applied under this code.

14         Section 3.  If any law that is amended by this act was

15  also amended by a law enacted at the 2002 Regular Session of

16  the Legislature, such laws shall be construed as if they had

17  been enacted at the same session of the Legislature, and full

18  effect should be given to each if that is possible.

19         Section 4.  This act shall take effect upon becoming a

20  law and the amendments to section 220.03(1)(n) and (2)(c),

21  Florida Statutes, apply retroactively to January 1, 2002.

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24                          SENATE SUMMARY

25    Provides that statutory references to the Internal
      Revenue Code include the Job Creation and Worker
26    Assistance Act and adopts the 2002 version of the
      Internal Revenue Code retroactively to January 1, 2002.
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CODING: Words stricken are deletions; words underlined are additions.