HM 1207 Summary

• Urges Congress to pass legislation similar to the Marketplace Fairness Act to allow states to enforce existing sales and use tax laws on out-of-state sellers.

• E-commerce sales grew 300 percent from $1 trillion in 1999 to $4 trillion in 2012, while states lost an estimated $56.3 billion in revenue from 2007 to 2012 (Florida lost approximately $3.9 billion).

• Creates competitive inequity where local brick-and-mortar retailers must collect sales taxes while out-of-state online sellers do not, disadvantaging local businesses by 5 to 10 percent in some states.

• Small-volume sellers with less than $500,000 in annual online sales should be exempted from new collection requirements.

• Directs copies of the memorial to be sent to the President, Congress leadership, and Florida's congressional delegation.