No. SB 1512
Filed under Taxes & Budget.
Space Florida; Revising the definition of the term “governmental purpose”; providing that certain property being used by a nongovernmental lessee pursuant to a project authorized by the Space Florida board of directors is deemed to perform an essential governmental purpose and is exempt from taxation; exempting from the sales and use tax certain tangible personal property leased to private entities; providing that Space Florida is not subject to certain provisions, etc.
Plain English Summary
AI-GENERATEDSpace Florida property used by private lessees for board-authorized projects is now deemed to perform an essential governmental purpose and is exempt from property tax.
Tangible personal property owned by government entities and leased to private entities for semiconductor, defense, or aerospace work is exempt from sales and use tax.
Space Florida is exempt from state procurement laws when purchasing professional or construction services using non-appropriated funds.
The definition of governmental purpose is expanded to include direct use of federal lands for Space Exploration Program and aerospace activities.
AICreates a new property tax exemption for private lessees of Space Florida property.
AIExempts tangible personal property leased from government entities to private entities for specific contracts from sales tax.
AIExempts Space Florida from state procurement law when using non-appropriated funds.
AIClarifies that Space Florida is not a state agency for legal purposes.
AIAdds aerospace activities to the definition of governmental purpose for property tax purposes.