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FL S1196
Bill
AI Summary
- Counties and municipalities that adopted a local business tax ordinance before July 1, 2025, are prohibited from increasing or modifying their tax rate structures or classifications beginning October 1, 2025, though they may repeal them
- Total annual revenue from local business taxes may not exceed a "revenue base" defined as the greater of total revenue for the fiscal year ending September 30, 2024, or September 30, 2025
- Beginning October 1, 2026, local governments exceeding the revenue base must adopt an ordinance proportionally adjusting rates downward to a recalculated tax rate and issue refunds to affected businesses by February 1, with undeliverable refunds treated as unclaimed property
- Local government financial audits must be accompanied by an affidavit from the governing board chair certifying compliance with the revenue cap requirements, and the Auditor General must contact noncompliant governments and may refer them to the Legislative Auditing Committee if corrective action is not completed within 180 days
- Fiscally constrained counties and municipalities located within them, as well as municipalities taxing merchants based on gross receipts, are exempt from the new restrictions
Legislative Description
Local Business Taxes
Last Action
Died in Community Affairs
6/16/2025
Full Bill Text
No bill text available