Senate Bill sb0952

    Florida Senate - 2001                                   SB 952

    By Senator Smith





    5-613-01

  1                      A bill to be entitled

  2         An act relating to ad valorem taxation;

  3         creating s. 196.096, F.S.; providing an

  4         exemption for technology-business incubation

  5         facilities; defining terms; providing an

  6         effective date.

  7

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

  9

10         Section 1.  Section 196.096, Florida Statutes, is

11  created to read:

12         196.096  Exemption for technology-business incubation

13  facilities.--

14         (1)  Any real property that is used as a

15  technology-business incubation facility, which real estate is

16  owned and subsidized by a local government and which when

17  created was located within an area designated as an enterprise

18  zone under chapter 290, is exempt from taxation.

19         (2)  Any tangible property that is owned by a local

20  government and used in a technology-business incubation

21  facility is exempt from taxation.

22         (3)  As used in this section, the term:

23         (a)  "Small, fledgling, or startup business" means any

24  business that:

25         1.a.  Applies new technological advancements generated

26  through private research or research developed at or in

27  association with a university, college, or industry affiliate;

28  or

29         b.  Was in a target industry designated under s.

30  288.106 upon entering a technology-business incubation

31  facility;

                                  1

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






    Florida Senate - 2001                                   SB 952
    5-613-01




  1         2.  Shows promise of increasing the percentage of

  2  gainful employment among potential members of the workforce in

  3  the county or municipality; and

  4         3.  Is expected to generate a stream of products and

  5  processes having commercial application that is of importance

  6  to industry in this state.

  7         (b)  "Technology-business incubation facility" means

  8  real property that provides business assistance and leases

  9  space at or below market rates to one or more small,

10  fledgling, or startup businesses.

11         Section 2.  This act shall take effect January 1, 2002.

12

13            *****************************************

14                          SENATE SUMMARY

15    Provides an exemption from ad valorem taxation for
      technology-business incubation facilities.
16

17

18

19

20

21

22

23

24

25

26

27

28

29

30

31

                                  2

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