House Bill 4369

    Florida House of Representatives - 1998                HB 4369

        By Representative Peaden






  1                      A bill to be entitled

  2         An act relating to state lands; providing for

  3         the sale of specified lands to Walton County by

  4         the Board of Trustees of the Internal

  5         Improvement Trust Fund; providing for the

  6         deposit of funds from such sale into the

  7         Florida Preservation 2000 Trust Fund; providing

  8         an effective date.

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10  Be It Enacted by the Legislature of the State of Florida:

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12         Section 1.  Notwithstanding s. 259.101(6), (7), and

13  (8), Florida Statutes, the Board of Trustees of the Internal

14  Improvement Trust Fund, pursuant to chapters 93-184, 95-275,

15  and 95-334, Laws of Florida, shall convey the lands located in

16  Walton County specifically identified as the New Town,

17  consistent with the Walton County Comprehensive Plan, to

18  Walton County at a price not to exceed the price paid by the

19  board for the lands plus any applicable interest, if the

20  disposition of the lands would not have the effect of causing

21  all or any portion of the interest on any revenue bonds issued

22  to fund the Florida Preservation 2000 Trust Act to lose their

23  exclusion from gross income for purposes of federal income

24  taxation. Any revenue derived from the disposal of the lands

25  may not be used for any purpose except for deposit into the

26  Florida Preservation 2000 Trust Fund for recredit to the share

27  held under s. 259.101(3), Florida Statutes, in which the

28  disposed of land is described.

29         Section 2.  This act shall take effect upon becoming a

30  law.

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CODING: Words stricken are deletions; words underlined are additions.






    Florida House of Representatives - 1998                HB 4369

    557-133A-98






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  2                          HOUSE SUMMARY

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      Provides for the sale of lands to Walton County by the
  4    Board of Trustees of the Internal Improvement Trust Fund,
      and provides for the deposit of funds from such sale into
  5    the Florida Preservation 2000 Trust Fund. See bill for
      details.
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