Florida Senate - 2006 COMMITTEE AMENDMENT
Bill No. SB 1268
Barcode 532436
CHAMBER ACTION
Senate House
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03/08/2006 02:24 PM .
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11 The Committee on Community Affairs (Geller) recommended the
12 following amendment:
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14 Senate Amendment (with title amendment)
15 On page 1, lines 11-27, delete those lines
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17 and insert:
18 Section 1. Paragraph (b) of subsection (2) and
19 subsection (4) of section 197.252, Florida Statutes, are
20 amended to read:
21 197.252 Homestead tax deferral.--
22 (2)
23 (b) If In the event the applicant is entitled to claim
24 the increased exemption by reason of age and residency as
25 provided in s. 196.031(3)(a), approval of such application
26 shall defer that portion of such ad valorem taxes plus non-ad
27 valorem assessments which exceeds 3 percent of the applicant's
28 household's income for the prior calendar year. If any such
29 applicant's household income for the prior calendar year is
30 less than $10,000, or is less than the amount of the household
31 income designated for the additional homestead exemption
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2:43 PM 03/02/06 s1268c-ca31-e0x
Florida Senate - 2006 COMMITTEE AMENDMENT
Bill No. SB 1268
Barcode 532436
1 pursuant to s. 196.075 and the $12,000 if such applicant is 65
2 70 years of age or older, approval of the such application
3 shall defer such ad valorem taxes plus non-ad valorem
4 assessments in their entirety.
5 (4) The amount of taxes, non-ad valorem assessments,
6 and interest deferred pursuant to this act shall accrue
7 interest at a rate equal to the semiannually compounded rate
8 of one-half of 1 percent plus the average yield to maturity of
9 the long-term fixed-income portion of the Florida Retirement
10 System investments as of the end of the quarter preceding the
11 date of the sale of the deferred payment tax certificates;
12 however, the interest rate may not exceed 7 9.5 percent.
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16 And the title is amended as follows:
17 On page 1, line 6, delete that line
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19 and insert:
20 valorem property taxes; decreasing the maximum
21 interest rate that may be charged on deferred
22 ad valorem property taxes; providing an
23 effective
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