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The Committee on Finance and Tax (Haridopolos) recommended the

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following amendment:

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     Senate Amendment (with title amendment)

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     Between line(s) 126 and 127

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insert:

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     Section 3.  Section 196.192, Florida Statutes, is amended to

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read:

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     196.192  Exemptions from ad valorem taxation.--Subject to

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the provisions of this chapter:

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     (1) All property owned by an exempt entity, including

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educational institutions, and used exclusively for exempt

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purposes shall be totally exempt from ad valorem taxation.

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     (2) All property owned by an exempt entity, including

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educational institutions, and used predominantly for exempt

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purposes shall be exempted from ad valorem taxation to the extent

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of the ratio that such predominant use bears to the nonexempt

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use.

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     (3)  All tangible personal property loaned or leased by a

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natural person, by a trust holding property for a natural person,

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or by an exempt entity to an exempt entity for public display or

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exhibition on a recurrent schedule is exempt from ad valorem

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taxation if the property is loaned or leased for no consideration

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or for nominal consideration.

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For purposes of this section, each use to which the property is

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being put must be considered in granting an exemption from ad

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valorem taxation, including any economic use in addition to any

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physical use. For purposes of this section, property owned by a

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limited liability company, the sole member of which is an exempt

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entity, shall be treated as if the property were owned directly

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by the exempt entity. This section does not apply in determining

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the exemption for property owned by governmental units pursuant

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to s. 196.199.

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================ T I T L E  A M E N D M E N T ================

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And the title is amended as follows:

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     On line(s) 6, after the first semicolon,

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insert:

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amending s. 196.192; specifying educational institutions

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as exempt entities for purposes of exemptions from ad

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valorem taxation for property owned by exempt entities;

3/24/2008  9:38:00 AM     26-05071A-08