On Mar. 6, FLA LEG passed bill to update, streamline, codify provisions
FLA LEG passed bill SB 7054 / HB 7069 regarding private activity bonds, modernizes, updates, and streamlines out-of-date provisions; amendments to FLA LEG XI-159-VI.
Codifies Division of Bond Finance rules re administration of private activity bonds.
Bill Highlights
Would require the Division of Bond Finance of the State Board of Administration to annually determine the State volume limitation and publicize such information.
Repeals provisions re procedures for obtaining allocations, requirements, limitations on allocation, issuance reports; establish procedures for issuance of private activity bonds
In addition, provides requirements for notices of intent to issue private activity bonds.
Legislative History
On Feb. 8, 2024, bill introduced in the Senate; on Feb. 28, 2024, bill passed in Senate.
On Mar. 4, 2024, bill introduced in the House; on Mar. 6, 2024, bill passed in House.
Effectiveness
If enacted, the Act would take effect on Jan. 1, 2025.
