HB 1251 Summary

• Renames the St. Johns County Airport Authority to the St. Augustine-St. Johns County Airport Authority and allows it to operate under the name "Northeast Florida Regional Airport."

• Provides board member compensation of up to $7,500 per year when the Authority levies ad valorem taxes at 0.00 mills; members receive no compensation when taxes exceed 0.00 mills but are reimbursed for verified travel and expenses in both cases.

• Establishes a 5-member elected board with staggered 4-year terms, with vacancies filled by gubernatorial appointment confirmed by the Senate; board members must reside within the district and at most two can be primarily engaged in aviation business.

• Authorizes the Authority to issue revenue bonds, general obligation bonds, and combined revenue/general obligation bonds (all subject to voter approval) with interest rates and maturity dates up to 40 years, and to levy ad valorem taxes up to 0.5 mill for general purposes.

• Requires annual budgets, annual audits by certified public accountants, and maintains the fiscal year as October 1 to September 30 consistent with St. Johns County.