Leasehold interest in facilities owned or used by community or technical colleges

From the 2024 DOR Tax Exemption Study

82.29A.130(20) - Leasehold interest in facilities owned or used by community or technical colleges Description All leasehold interests in facilities owned or used by a community college or technical college to provide food services, operate a bookstore, or provide maintenance, operational, or administrative services are exempt from leasehold excise tax. Purpose To provide leasehold excise tax relief to private lessees who lease facilities from community or technical colleges (lessors) for certain purposes, and to relieve the lessors from the obligation to collect and remit such taxes from the lessees. Taxpayer ($ in millions): savings FY 2024 FY 2025 FY 2026 FY 2027 State Taxes CTI CTI CTI CTI Local Taxes CTI CTI CTI CTI Repeal of Repealing this exemption would increase revenues. exemption Potential ($ in millions): revenue gains FY 2024 FY 2025 FY 2026 FY 2027 from full repeal State Taxes $0.000 CTI CTI CTI Local Taxes $0.000 CTI CTI CTI Assumptions This exemption impacts fewer than three taxpayers; any impacts are confidential. Data Sources Department of Revenue, Leasehold excise tax data Additional Additional Information Information Category: Business Year Enacted: 2017 Primary