HB 245 Summary

• Amends Florida's commercial real property rental tax by implementing phased exemptions beginning January 1, 2016, with the first $10,000 of annual rental fees exempt, increasing by $10,000 annually until reaching $90,000 exemption by January 1, 2024.

• Repeals section 212.031 effective January 1, 2025, eliminating the 6% tax on commercial real property rentals and license fees.

• Adds new education exemption allowing entities teaching qualified production services with at least 500 enrolled students to qualify for tax exemptions on real property leases and purchases.

• Removes references to section 212.031 from conforming statutes affecting air carriers, turnpike enterprises, and high-speed rail systems effective January 1, 2025.

• Takes effect July 1, 2015, except for provisions specifically dated to January 1, 2025.