CODING: Words stricken are deletions; words underlined are additions.
SENATE AMENDMENT
Bill No. CS for CS for SB 1566, 1st Eng.
Amendment No.
CHAMBER ACTION
Senate House
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11 Senator Clary moved the following amendment to amendment
12 (553475):
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14 Senate Amendment (with title amendment)
15 On page 168, between lines 26 and 27,
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17 and insert:
18 Section 71. Subsection (1) of section 196.2001,
19 Florida Statutes, is amended to read:
20 196.2001 Not-for-profit sewer and water company
21 property exemption.--
22 (1) Property of any sewer and water company owned or
23 operated by a Florida corporation not for profit, the income
24 from which has been exempt, as of January 1 of the year for
25 which the exemption from ad valorem property taxes is
26 requested, from federal income taxation by having qualified
27 under s. 115(a) or s. 501(c)(12) of the Internal Revenue Code
28 of 1954 or of a corresponding section of a subsequently
29 enacted federal revenue act, shall be exempt from ad valorem
30 taxation, provided the following criteria for exemption are
31 met by the not-for-profit sewer and water company:
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11:47 AM 04/30/99 s1566c2c-0710b
SENATE AMENDMENT
Bill No. CS for CS for SB 1566, 1st Eng.
Amendment No.
1 (a) Net income derived by the company does not inure
2 to any private shareholder or individual.
3 (b) Gross receipts do not constitute gross income for
4 federal income tax purposes.
5 (c) Members of the company's governing board serve
6 without compensation.
7 (d) Rates for services rendered by the company are
8 established by the governing board of the county or counties
9 within which the company provides service; by the Public
10 Service Commission, in those counties in which rates are
11 regulated by the commission; or by the Farmers Home
12 Administration.
13 (e) Ownership of the company reverts to the county in
14 which the company conducts its business upon retirement of all
15 outstanding indebtedness of the company.
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17 Notwithstanding anything above, no exemption shall be granted
18 until the property appraiser has considered the proposed
19 exemption and has made a specific finding that the water and
20 sewer company in question performs a public purpose in the
21 absence of which the expenditure of public funds would be
22 required.
23 (2) This section shall take effect upon this act
24 becoming a law and shall apply retroactively to January 1,
25 1998.
26 Section 72. (1) Notwithstanding any provision of
27 chapter 196, Florida Statutes, to the contrary, any exemption
28 which would be authorized by the amendment to s. 196.2001(1),
29 Florida Statutes, by this act, and which was applied for and
30 granted in good faith to any not-for-profit sewer or water
31 company after December 31, 1997, shall not be subject to any
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11:47 AM 04/30/99 s1566c2c-0710b
SENATE AMENDMENT
Bill No. CS for CS for SB 1566, 1st Eng.
Amendment No.
1 assessment, penalty, or interest otherwise allowed by law.
2 (2) This section shall take effect upon this act
3 becoming a law.
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5 (Redesignate subsequent sections.)
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8 ================ T I T L E A M E N D M E N T ===============
9 And the title is amended as follows:
10 On page 181, line 31, after the semicolon,
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12 insert:
13 amending s. 196.2001, F.S.; revising the
14 conditions for qualification for the ad valorem
15 tax exemption for property of a not-for-profit
16 sewer and water company; providing for
17 retroactive application; providing that certain
18 exemptions that conform to such revision that
19 were previously granted shall not be subject to
20 any assessment, penalty, or interest;
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