| 1 | Representative Attkisson offered the following: |
| 2 |
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| 3 | Amendment to Amendment (555297) (with title amendment) |
| 4 | Between lines 269 and 270, insert: |
| 5 | Section 6. Section 196.192, Florida Statutes, is amended |
| 6 | to read: |
| 7 | 196.192 Exemptions from ad valorem taxation.--Subject to |
| 8 | the provisions of this chapter: |
| 9 | (1) All property owned by an exempt entity, including |
| 10 | educational institutions, and used exclusively for exempt |
| 11 | purposes shall be totally exempt from ad valorem taxation. |
| 12 | (2) All property owned by an exempt entity, including |
| 13 | educational institutions, and used predominantly for exempt |
| 14 | purposes shall be exempted from ad valorem taxation to the |
| 15 | extent of the ratio that such predominant use bears to the |
| 16 | nonexempt use. |
| 17 | (3) All tangible personal property loaned or leased by a |
| 18 | natural person, by a trust holding property for a natural |
| 19 | person, or by an exempt entity to an exempt entity for public |
| 20 | display or exhibition on a recurrent schedule is exempt from ad |
| 21 | valorem taxation if the property is loaned or leased for no |
| 22 | consideration or for nominal consideration. |
| 23 |
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| 24 | For purposes of this section, each use to which the property is |
| 25 | being put must be considered in granting an exemption from ad |
| 26 | valorem taxation, including any economic use in addition to any |
| 27 | physical use. For purposes of this section, property owned by a |
| 28 | limited liability company, the sole member of which is an exempt |
| 29 | entity, shall be treated as if the property were owned directly |
| 30 | by the exempt entity. This section does not apply in determining |
| 31 | the exemption for property owned by governmental units pursuant |
| 32 | to s. 196.199. |
| 33 |
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| 34 | ----------------------------------------------------- |
| 35 | T I T L E A M E N D M E N T |
| 36 | Remove line 297 and insert: |
| 37 | reporting; amending s. 196.192, F.S.; specifying educational |
| 38 | institutions as exempt entities for purposes of exemptions from |
| 39 | ad valorem taxation for property owned by exempt entities; |
| 40 | providing an effective date. |