CS/HB 1229 - Port of Palm Beach District

• Codifies and consolidates all special acts relating to the Port of Palm Beach District into a single comprehensive charter, repealing chapters 74-570, 75-468, 81-459, 87-523, 90-462, 95-467, and 99-457 of Florida law.

• Establishes a five-member Board of Commissioners elected district-wide for 4-year terms, with commissioners required to be qualified electors and residents of Palm Beach County; initial salary set at $15,000 with annual adjustments up to 3 percent.

• Grants the district broad powers to construct, acquire, operate, and maintain port facilities including harbors, terminals, warehouses, railroads, and trade zones; authorizes issuance of general obligation bonds (up to 15 percent of assessed property valuation) and revenue bonds for port improvements.

• Establishes revenue collection mechanisms through fees, rates, and charges for port facilities; authorizes ad valorem tax levy not exceeding 2 mills on the dollar for operational costs; requires annual audits by certified public accountants.

• Exempts port property and revenues from state and local taxation; grants authority to hire port manager and consultants; requires comprehensive financial controls including fidelity bonds and separate fund depositories.