FL S1130

Creates the Local Government Revenue Intercept Act allowing local governments to authorize the Department of Revenue to intercept certain state revenues to replenish debt service reserves for local government bonds.

Defines interceptable revenues as communications services tax, local government half-cent sales tax, local option fuel taxes, and revenue sharing funds, with a specified priority order for interception.

Requires local governments to adopt a resolution or ordinance with nine specific authorizations and requirements, including proof that anticipated revenues will be at least 1.75 times the maximum annual debt service payment.

Allows trustee or paying agents to request interception with at least 60 days' written notice, and requires the Department of Revenue to intercept and transmit funds as specified.

Clarifies that bonds under an intercept program do not constitute a state obligation or debt, and prevents the state from repealing or amending the law in a manner that would harm bond purchasers, holders, and owners.