Senate Bill sb2778e1

    SB 2778                                  First Engrossed (ntc)



  1                      A bill to be entitled

  2         An act relating to Pasco County; providing that

  3         a resolution of the District School Board of

  4         Pasco County which provides for receipt of

  5         proceeds from the local government

  6         infrastructure surtax authorized under s.

  7         212.055(2), F.S., may include a covenant to

  8         decrease capital local school property taxes or

  9         to discontinue the surtax in certain

10         circumstances; providing an effective date.

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

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14         Section 1.  Resolution regarding local government

15  infrastructure surtax for the Pasco County School

16  District.--The resolution of the District School Board of

17  Pasco County providing for the receipt of proceeds of the

18  local government infrastructure surtax authorized under

19  section 212.055(2), Florida Statutes, may include a covenant

20  by the board to decrease the capital local school property tax

21  levied pursuant to section 1011.71(2), Florida Statutes, and

22  to maintain that tax at the reduced millage as long as the

23  surtax is in effect. The resolution may also provide that the

24  surtax shall expire on December 31 of any year in which the

25  board levies the capital property tax under section

26  1011.71(2), Florida Statutes, at a millage rate in excess of

27  the reduced millage rate promised in the resolution. Finally,

28  if the surtax revenues are pledged to service bonded

29  indebtedness, the board may covenant not to levy the capital

30  property tax under section 1011.71(2), Florida Statutes, at a

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    SB 2778                                  First Engrossed (ntc)



 1  millage rate in excess of the reduced millage rate promised in

 2  the resolution.

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

 4  law but shall ratify and confirm the referendum held in Pasco

 5  County in March, 2004.

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