Senate Bill sb2530

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    Florida Senate - 2005                                  SB 2530

    By Senator Siplin





    19-1062-05

  1                      A bill to be entitled

  2         An act relating to economic development;

  3         amending s. 125.0104, F.S., relating to the

  4         local option tourist development tax; allowing

  5         a county that levies the tax authorized under

  6         s. 125.0104(3)(n), F.S., to use the tax

  7         proceeds to participate with the state in an

  8         economic-development project to attract

  9         specified types of high-technology industries

10         to the county; providing an effective date.

11  

12         WHEREAS, the commercialization of technologies

13  developed in academic laboratories and research centers

14  through the application of recent innovations is critical for

15  Florida to maintain a competitive economy, and

16         WHEREAS, the development of high-technology industries

17  in Florida, including artificial intelligence, human-centered

18  computing, information technology and communications,

19  biotechnology, bioinformatics, biomedical, electro-optics,

20  life science, nanotechnology, and computer simulation, is

21  critical to the long-term economic vitality of this state, and

22         WHEREAS, high-technology industries will further

23  diversify and strengthen the Florida economy and complement

24  industries that are already recognized as being critical to

25  Florida's economic health, and

26         WHEREAS, attracting leading scholars and researchers in

27  advanced and emerging technology disciplines to Florida's

28  universities is critical to building Florida's knowledge base

29  and will serve a paramount public purpose, NOW, THEREFORE,

30  

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

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    Florida Senate - 2005                                  SB 2530
    19-1062-05




 1         Section 1.  Paragraph (n) of subsection (3) of section

 2  125.0104, Florida Statutes, is amended to read:

 3         125.0104  Tourist development tax; procedure for

 4  levying; authorized uses; referendum; enforcement.--

 5         (3)  TAXABLE PRIVILEGES; EXEMPTIONS; LEVY; RATE.--

 6         (n)  In addition to any other tax that is imposed under

 7  this section, a county that has imposed the tax under

 8  paragraph (l) may impose an additional tax that is no greater

 9  than 1 percent on the exercise of the privilege described in

10  paragraph (a) by a majority plus one vote of the membership of

11  the board of county commissioners in order to:

12         1.  Pay the debt service on bonds issued to finance:

13         a.  The construction, reconstruction, or renovation of

14  a facility either publicly owned and operated, or publicly

15  owned and operated by the owner of a professional sports

16  franchise or other lessee with sufficient expertise or

17  financial capability to operate such facility, and to pay the

18  planning and design costs incurred prior to the issuance of

19  such bonds for a new professional sports franchise as defined

20  in s. 288.1162.

21         b.  The acquisition, construction, reconstruction, or

22  renovation of a facility either publicly owned and operated,

23  or publicly owned and operated by the owner of a professional

24  sports franchise or other lessee with sufficient expertise or

25  financial capability to operate such facility, and to pay the

26  planning and design costs incurred prior to the issuance of

27  such bonds for a retained spring training franchise.

28         2.  Promote and advertise tourism in the State of

29  Florida and nationally and internationally; however, if tax

30  revenues are expended for an activity, service, venue, or

31  event, the activity, service, venue, or event shall have as

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    Florida Senate - 2005                                  SB 2530
    19-1062-05




 1  one of its main purposes the attraction of tourists as

 2  evidenced by the promotion of the activity, service, venue, or

 3  event to tourists.

 4         3.  Participate with the state in an economic

 5  development project for which additional revenues are needed

 6  to attract to the county high-technology industries, including

 7  information technology and communications, biotechnology,

 8  bioinformation, biomedical, electro-optics, life science,

 9  nanotechnology, and computer simulation.

10  

11  A county that imposes the tax authorized in this paragraph may

12  not expend any ad valorem tax revenues for the acquisition,

13  construction, reconstruction, or renovation of a facility for

14  which tax revenues are used pursuant to subparagraph 1. The

15  provision of paragraph (b) which prohibits any county

16  authorized to levy a convention development tax pursuant to s.

17  212.0305 from levying more than the 2-percent tax authorized

18  by this section shall not apply to the additional tax

19  authorized by this paragraph in counties which levy convention

20  development taxes pursuant to s. 212.0305(4)(a). Subsection

21  (4) does not apply to the adoption of the additional tax

22  authorized in this paragraph. The effective date of the levy

23  and imposition of the tax authorized under this paragraph is

24  the first day of the second month following approval of the

25  ordinance by the board of county commissioners or the first

26  day of any subsequent month specified in the ordinance. A

27  certified copy of such ordinance shall be furnished by the

28  county to the Department of Revenue within 10 days after

29  approval of the ordinance.

30         Section 2.  This act shall take effect upon becoming a

31  law.

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    Florida Senate - 2005                                  SB 2530
    19-1062-05




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 2                          SENATE SUMMARY

 3    Allows a county that levies a local option tourist
      development tax under s. 125.0104(3)(n), F.S., to use the
 4    tax proceeds to participate with the state in an
      economic-development project to attract specified types
 5    of high-technology industries to the county.

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