HOUSE AMENDMENT Bill No. HB 703 CS
1	CHAMBER ACTION
2	Senate House
3	.
4	.
5	.
6
7
8
9
10
11
12	Representative Attkisson offered the following:
13
14	Amendment (with title amendment)
15	Between line(s) 5022 and 5023, insert:
16	Section 70. Part VIII of chapter 159, Florida Statutes,
17	consisting of sections 159.831, 159.832, 159.833, 159.834, and
18	159.835, is created to read:
19	159.831 Popular name.--This part may be known by the
20	popular name the “Florida Qualified Public Educational
21	Facilities Private Activity Bond Allocation Act.”
22	159.832 Purpose.--The purpose of this part is to allocate
23	the state volume limitation imposed by s. 142(k)(5)(A) of the
24	Code on private activity bonds to finance qualified public
25	educational facilities. No private activity bond subject to the
26	limitation in s. 142(k)(5)(A) of the Code shall be issued in
27	this state unless a written confirmation therefor is issued
28	pursuant to this part.
29	159.833 Definitions.--As used in this part, the term:
30	(1) “Board” means the State Board of Education, created
31	pursuant to s. 2, Art. IX of the State Constitution.
32	(2) “Code” means the Internal Revenue Code of 1986, as
33	amended, and the regulations and rulings issued thereunder.
34	(3) “Commissioner” means the Commissioner of Education.
35	(4) “Department” means the Department of Education,
36	created pursuant to s. 20.15.
37	(5) “Issued” has the same meaning as in the Code.
38	(6) “Private activity bond” means any bond described in s.
39	141 of the Code.
40	(7) “Qualified public educational facility” means a
41	facility described in s. 142(k)(1) of the Code.
42	159.834 Allocation of state volume limitation.--
43	(1) By January 1, 2004, the board shall establish a
44	program for allocating the state volume limitation imposed by s.
45	142(k)(5)(A) of the Code on private activity bonds to finance
46	qualified public educational facilities. Such program shall
47	include objective criteria to be considered in determining
48	whether to grant a request for such volume limitation,
49	including, but not limited to, the need for a qualified public
50	educational facility in the area proposed in the application,
51	the number of students to be served by such facility, and the
52	cost-effectiveness of the proposed facility. The program shall
53	be administered by the department.
54	(2) The department shall annually determine the amount of
55	private activity bonds for qualified public educational
56	facilities permitted to be issued in this state under s.
57	142(k)(5) of the Code and shall make such information available
58	upon request to any person or agency.
59	(3) The department shall ensure that any volume limitation
60	unused at the end of each calendar year is carried forward
61	pursuant to s. 142(k)(5)(B)(ii) of the Code.
62	(4) The commissioner shall sign any certificate required
63	by the Code relating to the allocation of the state volume
64	limitation on private activity bonds to finance qualified public
65	educational facilities.
66	159.835 Rules.--The board and the department shall adopt
67	any rules necessary to ensure the orderly implementation and
68	administration of this part.
69
70
71	================= T I T L E A M E N D M E N T =================
72	Between line(s) 226 and 227, insert:
73	creating pt. VIII of ch. 159, F.S., the "Florida Qualified
74	Public Educational Facilities Private Activity Bond
75	Allocation Act"; providing purpose and definitions;
76	providing for allocation of state volume limitation on
77	private activity bonds to finance qualified public
78	educational facilities; providing for rules;