This bill amends several sections of Florida Statutes to enhance the operational framework of Space Florida, particularly regarding taxation and governmental purpose definitions. It revises the definition of "governmental purpose" to clarify that property used by nongovernmental lessees for projects authorized by the Space Florida board is considered to serve an essential governmental purpose and is thus exempt from taxation. Additionally, the bill reorders and amends the sales and use tax exemptions to include tangible personal property leased to private entities for semiconductor, defense, or aerospace projects, and allows the Department of Revenue to adopt rules for the exemption process.

Furthermore, the bill specifies that Space Florida is not subject to certain procurement regulations when using non-legislatively appropriated funds, provided it maintains proper records to attest to this. The effective date for these changes is set for July 1, 2026. Overall, the bill aims to streamline operations and provide tax relief for entities involved in critical technological and aerospace initiatives in Florida.

Statutes affected:
S 1512 Filed: 196.012, 331.302