Bill > S1512

This bill modifies Florida law to provide tax exemptions and clarify the operational scope of Space Florida, a state entity focused on aerospace and spaceport development. Specifically, it amends the definition of "governmental purpose" to include property used by a private entity under a project authorized by the Space Florida board of directors, thereby exempting such property from taxation. Additionally, it exempts tangible personal property, including machinery and equipment, leased to private entities for use in semiconductor, defense, or aerospace contracts, provided the property is owned by a governmental entity and the lease is in writing, with the Department of Revenue authorized to create rules for this exemption. The bill also clarifies that Space Florida is not subject to certain procurement provisions (specifically, section 255.20, which deals with purchasing professional or construction services) when using funds not appropriated by the Legislature, requiring Space Florida to maintain an attestation in its records to confirm this in such instances. These changes are set to take effect on July 1, 2026.

Budget and Finance

https://www.flsenate.gov/Session/Bill/2026/1512