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Florida's SB 1512 proposes changes to tax treatment for projects authorized by Space Florida, clarifying exemptions for properties used in public-private partnerships in aerospace and defense. The bill updates the definition of 'governmental purpose' to exempt real and tangible personal property leased to private entities for Space Florida projects from taxation.

It introduces a sales-and-use-tax exemption for machinery and equipment leased from government entities, potentially reducing costs for companies in Florida's high-tech sectors. Additionally, it revises procurement rules, allowing Space Florida to bypass competitive bidding for purchases made with non-appropriated funds. The bill has advanced through its first committee and is currently under review by the Senate Finance and Tax Committee, with a proposed effective date of July 1, 2026.