October 26, 2020
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Senate Bill 0582

Senate Bill sb0582

CODING: Words stricken are deletions; words underlined are additions.
    Florida Senate - 2005                                   SB 582

    By Senator Fasano





    11-484-05

  1                      A bill to be entitled

  2         An act relating to the tax on sales, use, and

  3         other transactions; amending s. 212.052, F.S.;

  4         deleting an exception to an exemption from the

  5         tax for research or development costs;

  6         providing an exemption for machinery and

  7         equipment used predominantly for research and

  8         development activities; defining the term

  9         "machinery and equipment"; allowing a business

10         certified to receive the exemption to designate

11         one or more state universities or community

12         colleges as recipients of part or all of the

13         amount of the exemption under specified

14         conditions; providing that the business retains

15         the rights to patents, royalties, or real or

16         intellectual property unless an agreement

17         specifies otherwise; providing an effective

18         date.

19  

20  Be It Enacted by the Legislature of the State of Florida:

21  

22         Section 1.  Subsection (2) of section 212.052, Florida

23  Statutes, is amended, present subsections (3), (4), and (5) of

24  that section are redesignated as subsections (4), (5), and

25  (6), respectively, and a new subsection (3) is added to that

26  section, to read:

27         212.052  Research or development costs; exemption.--

28         (2)  Notwithstanding any provision of this chapter to

29  the contrary, any person, including an affiliated group as

30  defined in s. 1504 of the Internal Revenue Code of 1954, as

31  amended, who manufactures, produces, compounds, processes, or

                                  1

CODING: Words stricken are deletions; words underlined are additions.






    Florida Senate - 2005                                   SB 582
    11-484-05




 1  fabricates in any manner tangible personal property for such

 2  taxpayer's own use directly and solely in research or

 3  development shall not be subject to the tax imposed by this

 4  chapter upon the cost of the product so manufactured,

 5  produced, compounded, processed, or fabricated. However, the

 6  tax imposed by this chapter shall be due on the purchase,

 7  rental, or repair of real property or tangible personal

 8  property employed in research or development which is subject

 9  to the tax imposed by this chapter at the time of purchase or

10  rental.

11         (3)(a)  Machinery and equipment are exempt from the tax

12  imposed by this chapter if used predominantly for research and

13  development activities. For the purposes of this subsection,

14  the term "machinery and equipment" includes molds, dies,

15  machine tooling, other appurtenances or accessories to

16  machinery and equipment, testing equipment, test beds,

17  computers, and software, whether purchased or self-fabricated,

18  and, if self-fabricated, includes materials and labor for

19  design, fabrication, and assembly.

20         (b)  A business certified to receive this exemption may

21  elect to designate one or more state universities or community

22  colleges as recipients of up to 100 percent of the amount of

23  the exemption for which the business qualifies. To receive

24  these funds, the state university or community college must

25  agree to match the funds so earned with equivalent cash,

26  programs, services, or other in-kind support on a one-to-one

27  basis in the pursuit of research and development projects as

28  requested by the certified business. The rights to any

29  patents, royalties, or real or intellectual property must be

30  vested in the business unless otherwise agreed to by the

31  business and the state university or community college.

                                  2

CODING: Words stricken are deletions; words underlined are additions.






    Florida Senate - 2005                                   SB 582
    11-484-05




 1         Section 2.  This act shall take effect July 1, 2005.

 2  

 3            *****************************************

 4                          SENATE SUMMARY

 5    Deletes an exception to the exemption from the tax on
      sales, use, and other transactions which applies to
 6    research or development costs. Provides an exemption from
      the tax for machinery and equipment used predominantly
 7    for research and development activities. Defines the term
      "machinery and equipment." Allows a business certified to
 8    receive the exemption to designate one or more state
      universities or community colleges as recipients of part
 9    or all of the amount of the exemption under specified
      conditions. Provides that the business retains the rights
10    to patents, royalties, or real or intellectual property
      unless an agreement specifies otherwise.
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CODING: Words stricken are deletions; words underlined are additions.

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