HOUSE AMENDMENT Bill No. HB 59A CS
1	CHAMBER ACTION
2	Senate House
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12	Representative Seiler offered the following:
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14	Amendment (with title amendment)
15	Remove line(s) 200-255, and insert:
16	to the nearest full percent, plus 3 percentage points,during
17	either:
18	(a) The 6-month period ending on September 30 of any
19	calendar year, or
20	(b) The 6-month period ending on March 31 of any calendar
21	year
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23	differs from the interest rate in effect on either such date,
24	the executive director of the department shall, within 20 days,
25	establish an adjusted rate of interest equal to such adjusted
26	prime rate plus 3 percentage points.
27	(3) An adjusted rate of interest established under this
28	section becomes effective:
29	(a) On January 1 of the succeeding year, if based upon the
30	adjusted prime rate plus 3 percentage pointsfor the 6-month
31	period ending on September 30; or
32	(b) On July 1 of the same calendar year, if based upon the
33	adjusted prime rate plus 3 percentage pointsfor the 6-month
34	period ending on March 31.
35	Section 3. Amendments made by this act to s. 213.235(2)
36	and (3), Florida Statutes, apply to interest due on tax payment
37	deficiencies that arise on or after November 1, 2003, and also
38	apply to interest due on tax payment deficiencies that arose on
39	or after January 1, 2000, but remain unpaid as of November 1,
40	2003. When calculating the rate that takes effect on November 1,
41	2003, the department shall use in making that calculation the
42	adjusted prime rate charged by banks, rounded to the nearest
43	full percent, during the 6-month period ending on March 31,
44	2003.
45	Section 4. Effective November 1, 2003, subsections (1),
46	(2), and (3) of section 220.807, Florida Statutes, are amended
47	to read:
48	220.807 Determination of rate of interest.--
49	(1) The annual rate of interest applicable to this chapter
50	shall be the adjusted rate established by the executive director
51	of the Department of Revenue under subsection (2), except the
52	annual rate of interest shall never be greater than 12 percent.
53	(2) If the adjusted prime rate charged by banks, rounded
54	to the nearest full percent, plus 3 percentage points,during
55	either:
56	(a) The 6-month period ending on September 30 of any
57	calendar year; or
58	(b) The 6-month period ending on March 31 of any calendar
59	year,
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61	differs from the interest rate in effect on either such date,
62	the executive director of the Department of Revenue shall,
63	within 20 days, establish an adjusted rate of interest equal to
64	such adjusted prime rate plus 3 percentage points.
65	(3) An adjusted rate of interest established under this
66	section shall become effective:
67	(a) On January 1 of the succeeding year, if based upon the
68	adjusted prime rate plus 3 percentage pointsfor the 6-month
69	period ending on September 30; or
70	(b) On July 1 of the same calendar year, if based upon the
71	adjusted prime rate plus 3 percentage pointsfor the 6-month
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73	================= T I T L E A M E N D M E N T =================
74	Remove line(s) 22, and insert:
75	prime rate plus 3 percentage points; providing maximum