House Bill hb1199

    Florida House of Representatives - 2002                HB 1199

        By Representative Lynn






  1                      A bill to be entitled

  2         An act relating to the High Technology Tax

  3         Exemption Matching Trust Fund; creating the

  4         fund; providing a source of funds; providing

  5         purpose; providing for future review and

  6         termination or re-creation of the fund;

  7         providing an effective date.

  8

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

10

11         Section 1.  The High Technology Tax Exemption Matching

12  Trust Fund is created to be administered by the Department of

13  Education. Legislative appropriations provided to match

14  qualified tax exemptions that are designated by the

15  beneficiary to be used by a state university or community

16  college pursuant to the provisions of s. 212.08(5)(j)8.,

17  Florida Statutes, shall be credited to the trust fund to be

18  used for the purposes set forth therein.

19         Section 2.  Pursuant to the provisions of s. 19(f)(2),

20  Art. III of the State Constitution, the High Technology Tax

21  Exemption Matching Trust Fund shall, unless terminated sooner,

22  be terminated on July 1, 2006. Prior to its scheduled

23  termination, the trust fund shall be reviewed as provided in

24  s. 215.3206, Florida Statutes.

25         Section 3.  This act shall take effect July 1, 2002.

26

27            *****************************************

28                          HOUSE SUMMARY

29
      Creates the High Technology Tax Exemption Matching Trust
30    Fund, provides a source of funds and purpose for the
      fund, and provides for future review and termination or
31    re-creation of the fund.

                                  1

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