HB 0215 2004
1	A bill to be entitled
2	An act relating to the Florida High-Speed Rail Authority
3	Act; amending s. 341.840, F.S.; providing that the tax
4	exemption provided to the authority does not apply to any
5	associated development, as defined by the act, or to the
6	income, sales, or other taxable transactions related to
7	any associated development; providing an effective date.
8
9	Be It Enacted by the Legislature of the State of Florida:
10
11	Section 1. Section 341.840, Florida Statutes, is amended
12	to read:
13	341.840 Tax exemption.--The exercise of the powers granted
14	by this act will be in all respects for the benefit of the
15	people of this state, for the increase of their commerce,
16	welfare, and prosperity, and for the improvement of their health
17	and living conditions, and as the design, building, operation,
18	maintenance, and financing of a system by the authority or its
19	agent or the owner or lessee thereof, as herein authorized,
20	constitutes the performance of an essential public function,
21	neither the authority, its agent, nor the owner of such system
22	shall be required to pay any taxes or assessments upon or in
23	respect to the system or any property acquired or used by the
24	authority, its agent, or such owner under the provisions of this
25	act or upon the income therefrom, any security therefor, their
26	transfer, and the income therefrom, including any profit made on
27	the sale thereof, shall at all times be free from taxation of
28	every kind by the state, the counties, and the municipalities
29	and other political subdivisions in the state. However, the tax
30	exemption provided under this section does not apply to any
31	associated development or to the income, sales, or other taxable
32	transactions related to any associated development.
33	Section 2. This act shall take effect upon becoming a law.