339.041 Factoring of revenues from leases for wireless communication facilities.—(1) The Legislature finds that efforts to increase funding for capital expenditures for the transportation system are necessary for the protection of the public safety and general welfare and for the preservation of transportation facilities in this state. Therefore, it is the intent of the Legislature to:(a) Create a mechanism for factoring future revenues received by the department from leases for wireless communication facilities on department property on a nonrecourse basis;
(b) Fund fixed capital expenditures for the statewide transportation system from proceeds generated through this mechanism; and
(c) Maximize revenues from factoring by ensuring that such revenues are exempt from income taxation under federal law in order to increase funds available for capital expenditures.
(2) For the purposes of factoring 365.172(13)(f) allow direct payment. (7) Proceeds received by the department from leases for wireless communication facilities shall be deposited in the State Transportation Trust Fund created under s. 206.46 and used for fixed capital expenditures for the statewide transportation system. History.—s. 6, ch. 2014-169; s. 1, ch. 2014-215; s. 16, ch. 2014-223; s. 25, ch. 2015-2.
1Note.—As created by s. 1, ch. 2014-215. Section 6, ch. 2014-169, and s. 16, ch. 2014-223, also created subsection (2), and that version did not use the word “future.” 2Note.—As created by s. 1, ch. 2014-215. Section 6, ch. 2014-169, and s. 16, ch. 2014-223, also created subsection (2), and that version did not use the word “real.”