The purpose of the proposed changes to Rule Chapter 12C-2, F.A.C. (Intangible Personal Property Tax), is to remove provisions regarding the administration of the annual intangible personal property tax repealed effective January 1, 2007, by Chapter 2006-312, L.O.F. The proposed changes to Rule Chapter 12C-2, F.A.C. (Intangible Personal Property Tax): (1) remove provisions from the rule chapter that have been rendered obsolete with the repeal of the annual personal property tax; and (2) update, consolidate, and simplify provisions for the administration of the 1 mil tax imposed on the value of leases government-owned property and the 2 mil nonrecurring tax imposed on the value of notes, bonds, and other obligations for payment of money that is secured by a mortgage, deed of trust, or other lien on Florida real property. The following rule sections have been rendered obsolete and are proposed to be repealed: 12C-2.002 Property Subject to Tax – Annual and Nonrecurring 12C-2.003 Exemptions 12C-2.006 Taxable Situs – Reporting Requirements – Who Shall File a Return 12C-2.0061 Transfer of Intangible Personal Property to Certain Out-of-State Entities 12C-2.0062 Management or Control 12C-2.0063 Intangible Personal Property Held in Trust 12C-2.008 Information Reports 12C-2.0105 Tax Credits The proposed amendments to the following rule sections provide for the continued administration of the one mil tax imposed on government leasehold estates and the nonrecurring two mil tax imposed on notes, bonds, and other obligations for payment of money secured by Florida real property: 12C-2.001 Definitions 12C-2.004 Property Subject to Tax 12C-2.005 Reporting Requirements – Due Date – Payment of Tax – Discounts Allowed 12C-2.007 Penalties and Interest 12C-2.010 Valuations 12C-2.011 Administration 12C-2.0115 Public Use Forms 12C-2.012 Refunds These rule sections: (1) retain the definitions for just value and other synonymous terms; (2) provide for the imposition of the one mil tax imposed on government leasehold estates and the two mil nonrecurring tax imposed on value of notes, bonds, and other obligations for payment of money that is secured by a mortgage, deed of trust, or other lien on Florida real property; (3) provide for the valuation of leases of governmental property subject to tax and for the valuation of property subject to the nonrecurring tax; (3) provide for the requirements for the administration of the taxes, including the due dates, discounts allowed, the methods of payment, and the imposition of penalties and interest; (4) provide for the administration of refunds for the overpayment of the tax; and (5) remove obsolete forms no longer used by the Department and adopt revisions to forms that continue to be used for reporting the government leasehold tax.