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FL H0391
Bill
Status
Introduced
1/22/2013
Primary Sponsor
Larry Ahern
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AI Summary
- Revises the sales tax exemption for industrial machinery and equipment purchased by businesses that manufacture, process, compound, or produce tangible personal property for sale, removing the prior distinction between "new business" and "expanding facility" exemptions and eliminating the requirement that expanding businesses demonstrate at least a 5% increase in productive output
- Eliminates procedural requirements for the exemption, including the need to apply for a temporary tax exemption permit, maintain specific books and records for the permit, and return the permit to the Department of Revenue upon completion of purchases
- Repeals the separate sales tax exemption for industrial machinery and equipment used by expanding businesses under federal procurement contracts (e.g., Department of Defense, NASA, and classified national security contracts)
- Retains existing exclusions barring electric utility companies, communications companies, oil/gas exploration operations, certain publishing firms, and firms regulated by the Division of Hotels and Restaurants from claiming the exemption
- Conforms cross-references in multiple Florida Statutes sections (ss. 212.0602, 220.183, 290.0056, 290.007, 624.5105, and 1011.94) to reflect the redesignation of paragraphs resulting from the repeal, and takes effect upon becoming law
Legislative Description
Exemptions from Tax on Sales, Use, & Other Transactions
Last Action
Died on Calendar, companion bill(s) passed, see CS/CS/HB 7007 (Ch. 2013-39)
5/3/2013
Committee Referrals
Economic Affairs4/12/2013
Economic Development And Tourism Subcommittee1/30/2013
Full Bill Text
No bill text available