FL S0406

Raises the felony theft threshold from $300 to $1,500 for third-degree grand theft, and creates new petit theft brackets: $500-$1,500 for first-degree misdemeanor and under $500 for second-degree misdemeanor

Requires that a third or subsequent petit theft conviction only be charged as a felony if the offender is an adult and the offense occurred within 3 years of completing the sentence for the most recent theft conviction

Removes fire extinguishers from the list of items whose theft automatically constitutes third-degree grand theft regardless of value

Mandates that theft thresholds be automatically adjusted every 5 years based on the Consumer Price Index, with the Office of Economic and Demographic Research calculating and publishing new amounts

Specifies that property value for theft offenses must be determined based on fair market value at the time of the taking