FL H0967

Creates the "Florida Local Government Revenue Intercept Act" authorizing local governments to allow the Department of Revenue to intercept specified available revenues to replenish debt service reserves when bond payments are missed.

Defines "available revenues" eligible for interception as funds from communications services tax, local government half-cent sales tax, local option fuel tax, and revenue sharing.

Requires local governments adopting an intercept program to pass a resolution or ordinance meeting nine specific conditions, including establishing a cash-funded debt service reserve equal to maximum annual debt service and ensuring anticipated revenues are at least 1.75 times the maximum annual debt service amount.

Specifies the order in which available revenues may be intercepted: restricted revenue sharing funds first, followed by half-cent sales tax, communications services tax, local option fuel tax, and remaining revenue sharing funds.

Establishes a state covenant to not repeal or amend this section in a manner that would abrogate the rights or protections of bond purchasers, holders, and owners operating under an intercept program.