Florida Senate - 2020                          SENATOR AMENDMENT
       Bill No. CS/HB 7097, 1st Eng.
       
       
       
       
       
       
                                Ì758088VÎ758088                         
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
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                Floor: 2f/F/2R         .                                
             03/12/2020 06:35 PM       .                                
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       Senator Rodriguez moved the following:
       
    1         Senate Amendment to Substitute Amendment (271678) (with
    2  title amendment)
    3  
    4         Delete lines 1381 - 1423
    5  and insert:
    6         Section 29. Section 220.1105, Florida Statutes, is
    7  repealed.
    8         Section 30. Subsection (2) of section 220.11, Florida
    9  Statutes, is amended to read:
   10         220.11 Tax imposed.—
   11         (2)(a) The tax imposed by this section shall be an amount
   12  equal to 5 1/2 percent of the taxpayer’s net income for the
   13  taxable year, except as provided in paragraph (b).
   14         (b) The tax rate imposed in paragraph (a) shall be adjusted
   15  as provided in s. 220.1105.
   16         Section 31. Subsection (2) of section 220.63, Florida
   17  Statutes, is amended to read:
   18         220.63 Franchise tax imposed on banks and savings
   19  associations.—
   20         (2)(a) The tax imposed by this section shall be an amount
   21  equal to 5 1/2 percent of the franchise tax base of the bank or
   22  savings association for the taxable year, except as provided in
   23  paragraph (b).
   24         (b) The tax rate imposed in paragraph (a) shall be adjusted
   25  as provided in s. 220.1105.
   26  
   27  ================= T I T L E  A M E N D M E N T ================
   28  And the title is amended as follows:
   29         Delete lines 1932 - 1935
   30  and insert:
   31         procedures; repealing s. 220.1105, F.S., relating to
   32         corporate income taxes imposed, automatic refunds, and
   33         downward adjustments to tax rates; amending ss. 220.11
   34         and 220.63, F.S.; conforming provisions to changes
   35         made by the act; amending s. 288.106, F.S.;
   36         authorizing a