Florida Senate - 2020                          SENATOR AMENDMENT
       Bill No. CS/HB 7097, 1st Eng.
       
       
       
       
       
       
                                Ì539406/Î539406                         
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
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                 Floor: WD/2R          .                                
             03/12/2020 06:21 PM       .                                
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       Senator Rodriguez moved the following:
       
    1         Senate Amendment to Substitute Amendment (271678) (with
    2  title amendment)
    3  
    4         Between lines 1795 and 1796
    5  insert:
    6         Section 38. 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   21  was repealed and additional revenues were captured as a result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         Delete line 1983
   38  and insert:
   39         providing for expiration of that authority; requiring
   40         the Office of Program Policy Analysis and Government
   41         Accountability to prepare a specified report relating
   42         to water’s-edge combined reporting for corporate
   43         income tax purposes and submit it to the Governor and
   44         the Legislature by a specified date; providing