HB 463 Summary

• Exempts separately itemized ad valorem tax charges paid by tenants or licensees to lessors, licensors, or other persons from sales and use tax under Florida Statutes Section 212.031.

• Limits the annual ad valorem tax exemption to the lesser of the total charges for one calendar year or the taxes actually paid to the tax collector or taxes due on April 1 of the following year.

• Requires excess ad valorem tax charges that exceed the actual or due amounts to be subject to sales and use tax and remitted in December.

• Requires tenants or licensees occupying multiple parcels or portions of real property to have their ad valorem tax charges calculated based on a reasonable allocation related to the specific property they occupy or use.

• Effective date: January 1, 2018.