SENATE AMENDMENT

    Bill No. CS for SB 2474, 1st Eng.

    Amendment No.    

                            CHAMBER ACTION
              Senate                               House
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11  Senator Klein moved the following amendment to House Amendment

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14         Senate Amendment (with title amendment) 

15         On page 18, between lines 16 and 17,

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17   insert:

18         Section 10.  Exemption from property taxation for

19  charitable nonprofit low income housing

20  properties.--Properties owned entirely by nonprofit

21  corporations that are defined as charitable organizations

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

23  with the Internal Revenue Procedure 96-32 and which provide

24  housing to low and very-low income persons, as defined in

25  section 420.004, Florida Statutes, shall be considered

26  charitable and exempt from ad valorem taxation under chapter

27  196, Florida Statutes, to the extent authorized under section

28  196.192, Florida Statutes.

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30  (Redesignate subsequent sections.)

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    11:47 AM   04/30/98                             s2474c1c-28k3d




                                                  SENATE AMENDMENT

    Bill No. CS for SB 2474, 1st Eng.

    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 21, line 3, after the semicolon

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 5  insert:

 6         providing a tax exemption for specified low

 7         income housing properties;

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    11:47 AM   04/30/98                             s2474c1c-28k3d