CS/HB 7123 - Taxation Bill Summary

• Provides sales tax exemptions and refunds for Hurricane Michael recovery, including fencing materials for agricultural lands, building materials for farm buildings, and fuel used for agricultural shipment or debris removal (October 10, 2018 through June 30, 2019).

• Establishes temporary assessment limitation for agricultural equipment rendered unable to use due to Hurricane Michael in 13 specified counties, allowing assessment at salvage value for 2019 tax roll only with application deadline of August 1, 2019.

• Creates back-to-school sales tax holiday August 2-6, 2019 for clothing, school supplies, and personal computers under $1,000, and disaster preparedness supplies holiday May 31-June 6, 2019.

• Modifies court and marriage license fees by requiring all proceeds deposit into State Courts Revenue Trust Fund instead of splitting between General Revenue Fund and court trust fund.

• Reduces civil penalty for traffic infractions from 18% to 9% for drivers completing approved driver improvement courses, and increases rental/licensee tax rate on real property from 5.5% to 5.7%.