The Florida Senate

253.422  "Chapman Exchange" lands; time limit for exchange; satisfaction of constitutional requirements.--Effective upon becoming law and notwithstanding the exchange and surplusing requirements of this chapter and chapter 259 and the notice requirements of chapter 270, in an exchange of lands contemplated between the Board of Trustees of the Internal Improvement Trust Fund and a private entity for formerly submerged sovereignty lands, heretofore known as the "Chapman Exchange," the board shall exchange lands with the private entity under these provisions no later than July 1, 2003. This exchange satisfies the constitutional public interest test for the following reasons:

(1)  The land to be exchanged by the state is not greater than 200 acres, is within a rural county of critical economic concern, and is adjacent to lands previously sold by the state to private interests.

(2)  The land to be exchanged is currently off the tax rolls of the county, which is at the 10 mill constitutional cap.

(3)  The private entity has been negotiating an exchange with the Division of State Lands for a period of not less than 1 year, has acquired lands within the division's project areas for conservation land acquisition, and owns land adjacent to the subject state parcel.

(4)  The exchange shall be of equal monetary value. The private entity shall provide any difference in appraised value at the time of closing in cash or the equivalent.

History.--s. 16, ch. 2003-394.