FL S0354

Exempts leasehold interests and improvements on land owned by the United States, U.S. Armed Forces branches, or U.S. agencies/quasi-governmental agencies from ad valorem taxation when acquired or constructed under the federal Military Housing Privatization Initiative of 1996.

Includes housing units and related facilities such as maintenance facilities, rental/management offices, parks, community centers, and recreational facilities in the exemption definition.

Exempts qualifying properties automatically without requiring an application for exemption to be filed or approved by the property appraiser.

Limits exemption to leasehold interests and improvements used for housing active duty military personnel or their dependents; if property includes other residential units, only the proportional military housing portion is exempt.

Effective upon becoming law with retroactive application to January 1, 2007; does not apply to transient public lodging establishments.