Amendment
Bill No. CS/HB 7071
Amendment No. 604735
CHAMBER ACTION
Senate House
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1Representative Attkisson offered the following:
2
3     Amendment to Amendment (561571) (with title amendment)
4     Between lines 4 and 5, insert:
5     Section 1.  Section 196.192, Florida Statutes, is amended
6to read:
7     196.192  Exemptions from ad valorem taxation.--Subject to
8the provisions of this chapter:
9     (1)  All property owned by an exempt entity, including
10educational institutions, and used exclusively for exempt
11purposes shall be totally exempt from ad valorem taxation.
12     (2)  All property owned by an exempt entity, including
13educational institutions, and used predominantly for exempt
14purposes shall be exempted from ad valorem taxation to the
15extent of the ratio that such predominant use bears to the
16nonexempt use.
17     (3)  All tangible personal property loaned or leased by a
18natural person, by a trust holding property for a natural
19person, or by an exempt entity to an exempt entity for public
20display or exhibition on a recurrent schedule is exempt from ad
21valorem taxation if the property is loaned or leased for no
22consideration or for nominal consideration.
23
24For purposes of this section, each use to which the property is
25being put must be considered in granting an exemption from ad
26valorem taxation, including any economic use in addition to any
27physical use. For purposes of this section, property owned by a
28limited liability company, the sole member of which is an exempt
29entity, shall be treated as if the property were owned directly
30by the exempt entity. This section does not apply in determining
31the exemption for property owned by governmental units pursuant
32to s. 196.199.
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T I T L E  A M E N D M E N T
36     Remove line 2 and insert:
37An act relating to postsecondary education; amending s. 196.192;
38specifying educational institutions as exempt entities for
39purposes of exemptions from ad valorem taxation for property
40owned by exempt entities; amending s.


CODING: Words stricken are deletions; words underlined are additions.