Florida Senate - 2011                        COMMITTEE AMENDMENT
       Bill No. CS for SJR 658
       
       
       
       
       
       
                                Barcode 401226                          
       
                              LEGISLATIVE ACTION                        
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       The Committee on Budget (Simmons) recommended the following:
       
    1         Senate Amendment to Substitute Amendment (891718) (with
    2  ballot and title amendments)
    3  
    4  
    5  
    6         Delete lines 280 - 305
    7  and insert:
    8         (f) By general law and subject to conditions specified
    9  therein, each person who is entitled to receive the homestead
   10  exemption provided in subsection (a) is entitled to an
   11  additional homestead exemption in an amount equal to twenty-five
   12  percent of the just value of the homestead between seventy-five
   13  thousand dollars and five-hundred thousand dollars. However, in
   14  any year, such person shall receive only the exemption provided
   15  in this subsection or the application of the cumulative
   16  assessment limitation calculated pursuant to subsection (c) of
   17  Section 4, whichever provides the lower taxable value. The
   18  exemption does not apply with respect to any assessment roll
   19  until such roll is first determined to be in compliance with the
   20  provisions of Section 4 by the state agency designated by
   21  general law. This exemption is repealed on the effective date of
   22  any future amendment to this constitution which provides for the
   23  assessment of homestead property at less than just value.
   24         Delete lines 347 - 363
   25  and insert:
   26         SECTION 33. Property tax exemptions and ad valorem tax
   27  limitations.—The amendment to Section 6 of Article VII, which
   28  provides an additional homestead exemption equal to the greater
   29  of twenty-five percent of the homestead’s just valuation between
   30  seventy-five thousand and five-hundred thousand dollars, and
   31  this section shall take effect January 1, 2013, and apply to
   32  property purchased on or after January 1, 2012.
   33  
   34  ====== B A L L O T  S T A T E M E N T  A M E N D M E N T ======
   35         And the ballot statement is amended as follows:
   36         Delete lines 388 - 411
   37  and insert:
   38         (3) This proposed amendment to the State Constitution also
   39  provides for an additional homestead exemption equal to the
   40  greater of 25 percent of the just value of the homestead
   41  property between $75,000 and $500,000. However, if the
   42  accumulated benefit already provided under the Save Our Homes
   43  amendment to the State Constitution is greater than the
   44  additional homestead exemption, the accumulated benefit will
   45  apply. The Save Our Homes amendment generally limits the
   46  increase in the taxable value of homestead property to the
   47  lesser of 3 percent or the rate of inflation. The additional
   48  homestead exemption will take effect on January 1, 2013, and
   49  applies to property purchased on or after January 1, 2012.
   50  
   51  ================= T I T L E  A M E N D M E N T ================
   52         And the title is amended as follows:
   53         Delete lines 430 - 435
   54  and insert:
   55         applicable to nonhomestead real property, provide an
   56         additional homestead exemption, delete a future repeal
   57         of