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| 1 | A bill to be entitled | ||
| 2 | An act relating to high-speed rail system tax exemptions; | ||
| 3 | amending s. 341.840, F.S.; specifying that tax exemptions | ||
| 4 | for the Florida High-Speed Rail Authority, agents of the | ||
| 5 | authority, and owners of the high-speed rail system do | ||
| 6 | not apply to associated developments or income, sales, or | ||
| 7 | other taxable transactions related to associated | ||
| 8 | developments of the authority or system; providing for | ||
| 9 | construction of the act in pari materia with laws enacted | ||
| 10 | during the 2003 Regular Session or the 2003 Special | ||
| 11 | Session A of the Legislature; providing an effective | ||
| 12 | date. | ||
| 13 | |||
| 14 | Be It Enacted by the Legislature of the State of Florida: | ||
| 15 | |||
| 16 | Section 1. Section 341.840, Florida Statutes, is amended | ||
| 17 | to read: | ||
| 18 | 341.840 Tax exemption.-- | ||
| 19 | (1)The exercise of the powers granted by this act will be | ||
| 20 | in all respects for the benefit of the people of this state, for | ||
| 21 | the increase of their commerce, welfare, and prosperity, and for | ||
| 22 | the improvement of their health and living conditions, and as | ||
| 23 | the design, building, operation, maintenance, and financing of a | ||
| 24 | system by the authority or its agent or the owner or lessee | ||
| 25 | thereof, as herein authorized, constitutes the performance of an | ||
| 26 | essential public function, neither the authority, its agent, nor | ||
| 27 | the owner of such system shall be required to pay any taxes or | ||
| 28 | assessments upon or in respect to the system or any property | ||
| 29 | acquired or used by the authority, its agent, or such owner | ||
| 30 | under the provisions of this act or upon the income therefrom, | ||
| 31 | any security therefor, their transfer, and the income therefrom, | ||
| 32 | including any profit made on the sale thereof, shall at all | ||
| 33 | times be free from taxation of every kind by the state, the | ||
| 34 | counties, and the municipalities and other political | ||
| 35 | subdivisions in the state. | ||
| 36 | (2) Notwithstanding subsection (1), the tax exemption | ||
| 37 | provided in this section shall not apply to any associated | ||
| 38 | development or to income, sales, or other taxable transactions | ||
| 39 | related to any associated development. | ||
| 40 | Section 2. If any law amended by this act was also amended | ||
| 41 | by a law enacted at the 2003 Regular Session of the Legislature | ||
| 42 | or at the 2003 Special Session A of the Legislature, such laws | ||
| 43 | shall be construed as if they had been enacted at the same | ||
| 44 | session of the Legislature, and full effect shall be given to | ||
| 45 | each if possible. | ||
| 46 | Section 3. This act shall take effect upon becoming a law. | ||