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



                                                   HOUSE AMENDMENT

                                                   Bill No. HB 615

    Amendment No. ___ (for drafter's use only)

                            CHAMBER ACTION
              Senate                               House
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  4  ______________________________________________________________

  5                                           ORIGINAL STAMP BELOW

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10  ______________________________________________________________

11  Representative(s) Bilirakis offered the following:

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13         Substitute Amendment for Amendment (851851) 

14         On page 3, line 13, of the bill

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16  after the period insert:  The department shall include in its

17  standard contract document a requirement that any state funds

18  provided for the purchase of or improvements to real property

19  are contingent upon the contractor granting to the state a

20  security interest in the property at least to the amount of

21  the state funds provided for at least 5 years from the date of

22  purchase or the completion of the improvements or as further

23  required by law. The contract must include a provision that,

24  as a condition of receipt of state funding for this purpose,

25  the contractor agrees that, if it disposes of the property

26  before the department's interest is vacated, the contractor

27  will refund the proportionate share of the state's initial

28  investment, as adjusted by depreciation.

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    File original & 9 copies    03/07/02
    hci0001                     08:51 am         00615-0048-110991

 

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