FL S1384

Exempts leasehold interests in government property from intangible tax when the lessee performs a governmental, municipal, or public purpose or function.

Lowers the aircraft weight threshold for sales tax exemption on repair and maintenance labor charges from 15,000 pounds to 2,000 pounds maximum certified takeoff weight.

Lowers the aircraft weight threshold for sales tax exemption on replacement engines, parts, and equipment used in aircraft repair from 15,000 pounds to 2,000 pounds maximum certified takeoff weight.

Applies the intangible tax exemption retroactively to all governmental leaseholds existing as of January 1, 2011, but clarifies this is remedial and does not create a right to refunds of previously paid taxes.

Takes effect July 1, 2012, except the intangible tax exemption amendment which takes effect upon becoming law.