Bill Text: FL S1672 | 2024 | Regular Session | Introduced

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Bill Title: Taxation of State Chartered Banks

Spectrum: Partisan Bill (Republican 1-0)

Status: (Failed) 2024-03-08 - Died in Banking and Insurance [S1672 Detail]

Download: Florida-2024-S1672-Introduced.html

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       Florida Senate - 2024                                    SB 1672
       
       
        
       By Senator Grall
       
       
       
       
       
       29-00590A-24                                          20241672__
    1                        A bill to be entitled                      
    2         An act relating to taxation of state chartered banks;
    3         amending s. 213.12, F.S.; providing that community
    4         banks have the same immunity from taxation as
    5         specified credit unions; providing a definition of
    6         “community bank”; providing an effective date.
    7          
    8  Be It Enacted by the Legislature of the State of Florida:
    9  
   10         Section 1. Subsection (2) of section 213.12, Florida
   11  Statutes, is amended to read:
   12         213.12 Certain state-chartered financial institutions;
   13  immunity from certain state and local taxes.—
   14         (2)(a) All credit unions and community banks now or
   15  hereafter chartered under the laws of the state shall have the
   16  same immunity from state and local taxation that federally
   17  chartered credit unions have from time to time under the
   18  statutes of the United States.
   19         (b) For purposes of this subsection, “community bank” means
   20  a bank which:
   21         1. Does not have a federal charter and is not chartered or
   22  licensed in any other state; or
   23         2. Has a federal charter and is headquartered only in this
   24  state.
   25         Section 2. This act shall take effect July 1, 2024.