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FL H0609
Bill
Status
Introduced
11/21/2023
Primary Sponsor
State Affairs Committee
Click for details
AI Summary
- Counties and municipalities that adopted a business tax ordinance before July 1, 2024, may not increase or modify their tax rate structures or classifications beginning October 1, 2024, though they may repeal existing rates
- Total local business tax revenue each fiscal year may not exceed a "revenue base" defined as the greater of total revenue for the fiscal year ending September 30, 2023, or September 30, 2024
- Beginning October 1, 2025, if a local government's business tax revenue exceeds the revenue base, it must adopt an ordinance to proportionally reduce rates to a recalculated level and issue refunds to affected businesses by February 1
- Local government financial audits submitted to the Auditor General must include an affidavit from the governing board chair certifying compliance with the revenue cap provisions, or describing any noncompliance and corrective actions taken
- The Auditor General must contact noncompliant local governments and request corrective action, with local governments required to initiate corrections within 45 days and complete them within 180 days or face notification to the Legislative Auditing Committee; the act takes effect July 1, 2024
Legislative Description
Local Business Taxes
Last Action
Died on Second Reading Calendar
3/8/2024
Committee Referrals
State Affairs2/2/2024
Ways and Means Committee11/30/2023
Full Bill Text
No bill text available