FL H0689

Authorizes counties and municipalities to use local government infrastructure surtax proceeds and accrued interest for operating purposes, not just capital improvements.

Requires counties or municipalities using surtax proceeds for operating purposes to reduce their ad valorem tax levy in each subsequent budget by the estimated surtax revenue amount.

Allows adjustments to ad valorem tax levies to compensate for reductions in the state sales and use tax base caused by legislative actions.

Does not exempt local governments from compliance with Chapter 200 requirements regarding millage caps, budget reserves, rollback rates, and budget adoption procedures.

Effective date: July 1, 2016.