Senate Bill sb1732c1

    Florida Senate - 2005                           CS for SB 1732

    By the Committee on Commerce and Consumer Services; and
    Senator Saunders




    577-2106-05

  1                      A bill to be entitled

  2         An act relating to aerospace ad valorem taxes;

  3         creating s. 196.1999, F.S.; providing an

  4         exemption from ad valorem taxes for certain

  5         space laboratories; repealing s. 196.1994,

  6         F.S., which expired effective July 1, 2004, and

  7         which provided an exemption from ad valorem

  8         taxes for certain space laboratories; providing

  9         for retroactivity; providing an effective date.

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

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13         Section 1.  Section 196.1999, Florida Statutes, is

14  created to read:

15         196.1999  Space laboratories and carriers;

16  exemption.--Notwithstanding other provisions of this chapter,

17  a module, pallet, rack, locker, and any necessary associated

18  hardware and subsystem owned by any person and intended to be

19  used to transport or store cargo used for a space laboratory

20  for the primary purpose of conducting scientific research in

21  space is deemed to carry out a scientific purpose and is

22  exempt from ad valorem taxation.

23         Section 2.  Section 196.1994, Florida Statutes, is

24  repealed.

25         Section 3.  This act shall take effect July 1, 2005,

26  and shall apply retroactively to January 1, 2005.

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    Florida Senate - 2005                           CS for SB 1732
    577-2106-05




 1          STATEMENT OF SUBSTANTIAL CHANGES CONTAINED IN
                       COMMITTEE SUBSTITUTE FOR
 2                         Senate Bill 1732

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 4  The committee substitute differs from the bill in that it
    clarifies that the ad valorem tax exemption applies to storage
 5  components used to transport or store cargo used for a space
    laboratory, which is used for scientific purposes.
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CODING: Words stricken are deletions; words underlined are additions.