SENATE AMENDMENT

    Bill No. CS for SB 2204

    Amendment No.    

                            CHAMBER ACTION
              Senate                               House
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11  Senator Hargrett moved the following amendment:

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13         Senate Amendment (with title amendment) 

14         On page 26, between lines 19 and 20,

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16  insert:

17         Section 17.  Section 420.0007, Florida Statutes, is

18  created to read:

19         420.0007  Exemption from property taxation for

20  charitable nonprofit low-income housing

21  properties.--Properties owned entirely by nonprofit

22  corporations that are defined as charitable organizations

23  under s. 501(c)(3) of the Internal Revenue Code and comply

24  with the Internal Revenue Procedure 96-32 and that provide

25  housing to low and very low-income persons, as defined in s.

26  420.9071, shall be considered charitable and exempt from ad

27  valorem taxation under chapter 196, to the extent authorized

28  under s. 196.192.

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30  (Redesignate subsequent sections.)

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    8:49 AM   04/27/98                              s2204c1c-21j01




                                                  SENATE AMENDMENT

    Bill No. CS for SB 2204

    Amendment No.    





 1  ================ T I T L E   A M E N D M E N T ===============

 2  And the title is amended as follows:

 3         On page 2, line 9, after the semicolon,

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 5  insert:

 6         creating s. 420.0007, F.S.; providing an

 7         exemption from property taxation for charitable

 8         nonprofit low-income housing properties;

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    8:49 AM   04/27/98                              s2204c1c-21j01