Senate Bill sb1388

    Florida Senate - 2004                                  SB 1388

    By Senator Margolis





    35-942-04

  1                      A bill to be entitled

  2         An act relating to exemptions from taxation;

  3         amending s. 196.199, F.S.; exempting certain

  4         property owned by local governments which is

  5         leased to other persons; exempting such

  6         property from annual resale certificates;

  7         providing an effective date.

  8  

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

10  

11         Section 1.  Subsection (11) is added to section

12  196.199, Florida Statutes, to read:

13         196.199  Government property exemption.--

14         (11)(a)  Property owned by a municipality or political

15  subdivision which is leased to another person but which is

16  used exclusively for governmental purposes by the governmental

17  entity pursuant to a sublease or other contract with the

18  lessee is considered owned by the governmental entity and used

19  exclusively for governmental purposes, for purposes of this

20  section.

21         (b)  An annual resale certificate is not required for a

22  lease-leaseback or sale-leaseback transaction as provided in

23  this subsection.

24         Section 2.  This act shall take effect July 1, 2004.

25  

26            *****************************************

27                          SENATE SUMMARY

28    Exempts from taxation certain property owned by a local
      government which is leased to another person and
29    subleased or contracted back to the local government and
      used exclusively for governmental purposes.
30  

31  

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