CS/SB 1750--Department of Environmental Protection.The bill prioritizes the payment of debt service on the Preservation 2000, Florida Forever, and Everglades bonds by pledging that all documentary stamp revenues be available to pay debt service in the event of a shortfall Shortfall The amount by which the capital required to fulfill a financial obligation exceeds available capital. Notes: Shortfall risk is often combated with an efficient hedging strategy created by a fund, group, institution, or individual. . The bill redirects to the General Revenue Fund: the two-tenths of 1 percent of sales tax sales tax, levy on the sale of goods or services, generally calculated as a percentage of the selling price, and sometimes called a purchase tax. It is usually collected in the form of an extra charge by the retailer, who remits the tax to the government. revenues currently distributed to the Ecosystem Management and Restoration Trust Fund within the Department of Environmental Protection (department); and revenues collected from the excise tax Excise Tax 1. An indirect tax charged on the sale of a particular good. 2. A penalty tax applied to ineligible transactions in retirement accounts. This penalty is assessed by and paid to the IRS. Notes: 1. on documents that are currently distributed to the Water Protection and Sustainability Program Trust Fund within the department and the Marine Resources Conservation Trust Fund within the Fish and Wildlife Conservation Commission. The bill also terminates the Lake Okeechobee Noun 1. Lake Okeechobee - a lake in southeast Florida to the north of the Everglades Okeechobee Everglade State, FL, Florida, Sunshine State - a state in southeastern United States between the Atlantic and the Gulf of Mexico; one of the Confederate states Preservation Trust Fund within the Department of Environmental Protection. The bill repeals [section]23 of ch. 2008-15, L.O.F., as it relates to a landfill permit. Finally, the bill provides for the financing of the petroleum underground storage tanks An Underground Storage Tank (UST), in United States environmental law, is a tank and any underground piping connected to the tank that has at least 10 percent of its combined volume underground. cleanup program by authorizing up to $104 million in bonds to provide $90 million to continue the cleanup efforts. These provisions were approved by the Governor and take effect July 1, 2009. Ch. 09-68, L.O.F. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion