House Bill 0401

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    Florida House of Representatives - 1999                 HB 401

        By Representative Ball






  1                      A bill to be entitled

  2         An act relating to bond financing; amending s.

  3         159.804, F.S.; establishing an additional

  4         region for purposes of the allocation of

  5         private activity bonds issued in the state;

  6         providing an effective date.

  7

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

  9

10         Section 1.  Paragraph (b) of subsection (1) and

11  paragraph (b) of subsection (2) of section 159.804, Florida

12  Statutes, are amended to read:

13         159.804  Allocation of state volume limitation.--The

14  division shall annually determine the amount of private

15  activity bonds permitted to be issued in this state under the

16  Code and shall make such information available upon request to

17  any person or agency.  The total amount of private activity

18  bonds authorized to be issued in this state pursuant to the

19  Code shall be initially allocated as follows on January 1 of

20  each year:

21         (1)

22         (b)  If on January 1 of any year, under federal law,

23  bonds for manufacturing facilities no longer require or are

24  eligible for an allocation pursuant to s. 146 of the Code, the

25  allocation of the state volume limitation in the manufacturing

26  facility pool shall be divided among the remaining pools in

27  the following manner: 50 percent to be shared by the 17 16

28  regions for use in the manner prescribed in subsection (2); 25

29  percent for use by the Florida Housing Finance Agency in the

30  manner prescribed in subsection (3); 5 percent for use in the

31  state allocation pool in the manner prescribed in subsection

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    Florida House of Representatives - 1999                 HB 401

    561-141-99






  1  (4); and 20 percent for use in the Florida First Business

  2  allocation pool in the manner prescribed in subsection (5).

  3         (2)(a)  Fifty percent of the state volume limitation

  4  remaining after the allocation made pursuant to subsection (1)

  5  shall be allocated among the regions established in paragraph

  6  (b) for use by all agencies whose boundaries are coterminous

  7  with or contained within each region. The volume limitation

  8  for each regional allocation pool must be an amount that bears

  9  the same ratio to 50 percent of the state volume limitation

10  remaining after the allocation made pursuant to subsection (1)

11  for such calendar year as the population of the region bears

12  to the population of the entire state.

13         (b)  The following regions are established for the

14  purposes of this allocation:

15         1.  Region 1 consisting of Bay, Escambia, Holmes,

16  Okaloosa, Santa Rosa, Walton, and Washington Counties.

17         2.  Region 2 consisting of Calhoun, Franklin, Gadsden,

18  Gulf, Jackson, Jefferson, Leon, Liberty, and Wakulla Counties.

19         3.  Region 3 consisting of Alachua, Bradford, Columbia,

20  Dixie, Gilchrist, Hamilton, Lafayette, Madison, Suwannee,

21  Taylor, and Union Counties.

22         4.  Region 4 consisting of Baker, Clay, Flagler,

23  Nassau, Putnam, and St. Johns Counties.

24         5.  Region 5 consisting of Citrus, Hernando, Levy,

25  Marion, Pasco, and Sumter Counties.

26         6.  Region 6 consisting of Brevard, Lake, Osceola, and

27  Seminole, and Volusia Counties.

28         7.  Region 7 consisting of DeSoto, Hardee, Highlands,

29  Manatee, Okeechobee, and Polk Counties.

30         8.  Region 8 consisting of Charlotte, Collier, Glades,

31  Hendry, Lee, Monroe, and Sarasota Counties.

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    Florida House of Representatives - 1999                 HB 401

    561-141-99






  1         9.  Region 9 consisting of Indian River, Martin, and

  2  St. Lucie Counties.

  3         10.  Region 10 consisting of Broward County.

  4         11.  Region 11 consisting of Dade County.

  5         12.  Region 12 consisting of Duval County.

  6         13.  Region 13 consisting of Hillsborough County.

  7         14.  Region 14 consisting of Orange County.

  8         15.  Region 15 consisting of Palm Beach County.

  9         16.  Region 16 consisting of Pinellas County.

10         17.  Region 17 consisting of Brevard and Volusia

11  Counties.

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

13  law.

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15            *****************************************

16                          HOUSE SUMMARY

17
      With respect to pt. VI of ch. 159, F.S., the Florida
18    Private Activity Bond Allocation Act, establishes an
      additional region, comprised of Brevard and Volusia
19    Counties, for purposes of the allocation of private
      activity bonds issued in the state.
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