FL H0531

Exempts leasehold interests and improvements affixed to land owned by the United States, branches of the U.S. Armed Forces, or federal agencies/quasi-governmental agencies from ad valorem taxation if acquired or constructed under the federal Military Housing Privatization Initiative of 1996 (10 U.S.C. § 2871 et seq.)

Defines "improvements" to include actual housing units and directly related facilities such as housing maintenance facilities, rental and management offices, parks, community centers, and recreational facilities

Grants automatic exemption without requiring an application for exemption or property appraiser approval for qualifying leasehold interests and improvements

Excludes transient public lodging establishments as defined in section 509.013 from the exemption

Takes effect upon becoming law and applies retroactively to January 1, 2007