FL S1432

Allows county commissioners of economically distressed counties to use state tax distributions or other legislatively-authorized county tax revenues to reduce ad valorem tax millage rates, subject to a two-thirds vote requirement.

Defines "eligible county" as one with a proposed millage rate exceeding the prior year's adopted rate and meeting at least three of four economic criteria: declining property values, lower per capita income, decreased state sales tax remittance, or unemployment rate exceeding 8 percent.

Automatically classifies counties included in a major federal disaster or emergency declaration in the previous calendar year as eligible counties.

Requires the Office of Economic and Demographic Research to determine county eligibility by July 1 annually and post results on its website, with authority exercisable only one fiscal year at a time.

Prohibits use of revenues restricted by the State Constitution or derived from voter-approved taxes for millage rate reduction purposes.