Florida Senate - 2009                          SENATOR AMENDMENT
       Bill No. SB 1112
       
       
       
       
       
       
                                Barcode 260288                          
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
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                Floor: 1/AD/2R         .                                
             03/03/2009 04:55 PM       .                                
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       Senator Altman moved the following:
       
    1         Senate Amendment 
    2  
    3         Delete lines 133 - 157
    4  and insert:
    5         1. There shall be added to such taxable income an amount
    6  equal to 100 percent of any amount deducted for federal income
    7  tax purposes as bonus depreciation for the taxable year pursuant
    8  to ss. 167 and 168(k) of the Internal Revenue Code of 1986, as
    9  amended by s. 103 of Pub. L. No. 110-185, for property placed in
   10  service after December 31, 2007, and before January 1, 2009. For
   11  the taxable year and for each of the 6 subsequent taxable years,
   12  there shall be subtracted from such taxable income an amount
   13  equal to one-seventh of the amount by which taxable income was
   14  increased pursuant to this subparagraph, notwithstanding any
   15  sale or other disposition of the property that is the subject of
   16  the adjustments and regardless of whether such property remains
   17  in service in the hands of the taxpayer.
   18         2. There shall be added to such taxable income an amount
   19  equal to 100 percent of any amount in excess of $128,000
   20  deducted for federal income tax purposes for the taxable year
   21  pursuant to s. 179 of the Internal Revenue Code of 1986, as
   22  amended by s. 102 of Pub. L. No. 110-185, for taxable years
   23  beginning after December 31, 2007, and before January 1, 2009.
   24  For the taxable year and for each of the 6 subsequent taxable
   25  years, there shall be subtracted from such taxable income one
   26  seventh of the amount by which taxable income was increased
   27  pursuant to this subparagraph, notwithstanding any sale or other
   28  disposition of the property that is the subject of the
   29  adjustments and regardless of whether such property remains in
       service in the hands of the taxpayer.
                                                                        
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