FL S1436

Authorizes the Florida Department of Transportation to acquire the Garcon Point Bridge and related assets, and to purchase or retire outstanding Santa Rosa Bay Bridge Authority bonds.

Permits the department to issue bonds to finance the bridge acquisition consistent with existing bonding authority and state debt management policies.

Establishes that the acquisition price may not exceed the present value of forecasted gross toll revenues over the bridge's remaining useful life, and prohibits toll rate increases in connection with the acquisition.

Provides two pathways for acquisition: as part of the State Highway System under new Section 338.168 or as part of the Turnpike System under amended Section 338.2275, with the department selecting the approach that best serves the public interest.

Repeals Part IV of Chapter 348 (Santa Rosa Bay Bridge Authority statutes) upon the department's acquisition of the bridge and terminates the existing October 23, 1996 lease purchase agreement.