Senate Bill sb2134c2
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Florida Senate - 2007 CS for CS for SB 2134
By the Committees on Environmental Preservation and
Conservation; Community Affairs; and Senators Constantine and
Crist
592-2414-07
1 A bill to be entitled
2 An act relating to tax increment financing;
3 authorizing two or more counties, or a
4 combination of at least one county and
5 municipality, to establish a tax increment area
6 for conservation lands by interlocal agreement;
7 providing requirements for such an interlocal
8 agreement; requiring that a tax increment be
9 determined annually; limiting the amount of the
10 tax increment; requiring the establishment of a
11 separate reserve account for each tax increment
12 area; providing for a refund; requiring an
13 annual audit of the separate reserve account;
14 providing for the administration of the
15 separate reserve account; providing that the
16 governmental body that administers the separate
17 reserve account may spend revenues from the tax
18 increment to purchase real property only if all
19 parties to the interlocal agreement adopt a
20 resolution that approves the purchase price;
21 providing that a water management district may
22 be a party to the interlocal agreement;
23 requiring certain approvals from the Department
24 of Environmental Protection and the Department
25 of Community Affairs; providing a comparative
26 standard on which the minimum annual funding of
27 the separate reserve account must be based;
28 requiring a taxing authority that does not pay
29 tax increment revenues to the separate reserve
30 account before a specified date to pay a
31 specified amount of interest on the amount of
1
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Florida Senate - 2007 CS for CS for SB 2134
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1 unpaid increment revenues; providing exemptions
2 for certain public bodies, taxing authorities,
3 and special districts; providing that revenue
4 bonds may be paid only from revenues deposited
5 into the separate reserve account; providing
6 that such revenue bonds are not a debt,
7 liability, or obligation of the state or any
8 public body; providing legislative findings;
9 providing an effective date.
10
11 Be It Enacted by the Legislature of the State of Florida:
12
13 Section 1. Tax increment financing for conservation
14 lands.--
15 (1) Two or more counties, or a combination of at least
16 one county and one or more municipalities, may establish,
17 through an interlocal agreement, a tax increment area for
18 conservation lands. The interlocal agreement, at a minimum,
19 must:
20 (a) Identify the geographic boundaries of the tax
21 increment area;
22 (b) Identify the real property to be acquired as
23 conservation land within the tax increment area;
24 (c) Establish the percentage of tax increment
25 financing for each jurisdiction in the tax increment area;
26 (d) Identify the governing body of the jurisdiction
27 that will administer a separate reserve account in which the
28 tax increment will be deposited;
29 (e) Require that any tax increment revenues not used
30 to purchase conservation lands by a date certain be refunded
31 to the parties to the interlocal agreement. Any refund shall
2
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Florida Senate - 2007 CS for CS for SB 2134
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1 be proportionate to the parties' payment of tax increment
2 revenues into the separate reserve account;
3 (f) Provide for an annual audit of the separate
4 reserve account;
5 (g) Designate an entity to hold title to any
6 conservation lands purchased using the tax increment revenues;
7 (h) Provide for a continuing management plan for the
8 conservation lands; and
9 (i) Identify the entity that will manage these
10 conservation lands.
11 (2) The water management district in which
12 conservation lands proposed for purchase under this section
13 are located may also enter into the interlocal agreement if
14 the district provides any funds for the purchase of the
15 conservation lands. The water management districts may only
16 use ad valorem tax revenues for agreements described within
17 this section.
18 (3) The governing body of the jurisdiction that will
19 administer the separate reserve account shall provide
20 documentation to the Department of Community Affairs
21 identifying the boundary of the tax increment area. The
22 department shall determine whether the boundary is appropriate
23 in that property owners within the boundary will receive a
24 benefit from the proposed purchase of identified conservation
25 lands. The department must issue a letter of approval stating
26 that the establishment of the tax increment area and the
27 proposed purchases would benefit property owners within the
28 boundary and serve a public purpose before any tax increment
29 funds are deposited into the separate reserve account. If the
30 department fails to provide the required letter within 90 days
31 after receiving sufficient documentation of the boundary, the
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Florida Senate - 2007 CS for CS for SB 2134
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1 establishment of the area and the proposed purchases are
2 deemed to provide such benefit and serve a public purpose.
3 (4) Prior to the purchase of conservation lands under
4 this section, the Department of Environmental Protection must
5 determine whether the proposed purchase is sufficient to
6 provide additional recreational and ecotourism opportunities
7 for residents in the tax increment area. If the department
8 fails to provide a letter of approval within 90 days after
9 receipt of the request for such a letter, the purchase is
10 deemed sufficient to provide recreation and ecotourism
11 opportunities.
12 (5) The tax increment authorized under this section
13 shall be determined annually and may not exceed 95 percent of
14 the difference in ad valorem taxes as provided in s.
15 163.387(1)(a), Florida Statutes.
16 (6) A separate reserve account must be established for
17 each tax increment area for conservation lands which is
18 created under this section. The separate reserve account must
19 be administered pursuant to the terms of the interlocal
20 agreement. Tax increment funds allocated to this separate
21 reserve account shall be used to acquire the real property
22 identified for purchase in the interlocal agreement. Pursuant
23 to the interlocal agreement, the governing body of the local
24 government that will administer the separate reserve account
25 may spend increment revenues to purchase the real property
26 only if all parties to the interlocal agreement adopt a
27 resolution approving the purchase price.
28 (7) The annual funding of the separate reserve account
29 may not be less than the increment income of each taxing
30 authority which is held as provided in the interlocal
31 agreement for the purchase of conservation lands.
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1 (8) Unless otherwise provided in the interlocal
2 agreement, a taxing authority that does not pay the tax
3 increment revenues to the separate reserve account by January
4 1 shall pay interest on the amount of unpaid increment
5 revenues equal to 1 percent for each month that the increment
6 revenue remains outstanding.
7 (9) The public bodies and taxing authorities listed in
8 s. 163.387(2)(c), Florida Statutes, and special districts that
9 levy ad valorem taxes within a tax increment area are exempt
10 from this section.
11 (10) Revenue bonds under this section are payable
12 solely out of revenues pledged to and received by the local
13 government administering the separate reserve account and
14 deposited into the separate reserve account. The revenue bonds
15 issued under this section do not constitute a debt, liability,
16 or obligation of a public body, the state, or any of the
17 state's political subdivisions.
18 Section 2. The Legislature finds that an inadequate
19 supply of conservation lands limits recreational opportunities
20 and negatively impacts the economy, health, and welfare of the
21 surrounding community. The Legislature also finds that
22 acquiring conservation lands for recreational opportunities
23 and ecotourism serves a valid public purpose.
24 Section 3. This act shall take effect July 1, 2007.
25
26 STATEMENT OF SUBSTANTIAL CHANGES CONTAINED IN
COMMITTEE SUBSTITUTE FOR
27 CS for SB 2134
28
29 The committee substitute increases from 50 percent to 95
percent the amount of the tax increment that may be utilized
30 for the purposes of the program created by the legislation.
Additionally, the provision permitting water management
31 districts to financially assist in these agreements is amended
to provide that only ad valorem revenues may be used.
5
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