FL H0243

Amends section 196.198, Florida Statutes, to expand property tax exemption eligibility for educational institutions holding leasehold interests in bona fide leases with original terms of 98 years or more.

Educational institutions leasing leasehold properties must receive the full benefit of the exemption, and property owners must disclose the benefit amount and method for ensuring the institution receives it.

Property owned by educational institutions is deemed for educational use if the institution has taken affirmative steps to prepare it, including environmental/land use permitting, architectural plans, land clearing, construction, or similar commitment activities.

Maintains existing exemptions for sheltered workshops, college fraternity/sorority properties certified as essential to education, public fairs and expositions, and property owned by houses of public worship used for preschool through grade 8 education.

Effective date: July 1, 2022.