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FL H7031

Bill

Official Source

Status

Enrolled

3/12/2026

Primary Sponsor

Ways & Means Committee

Click for details

Origin

House of Representatives

2026 Regular Session

AI Summary

  • Updates Florida's corporate income tax code reference date from January 1, 2025 to January 1, 2026 to incorporate federal tax law changes
  • Maintains certain federal IRC provisions at the January 1, 2025 version, including sections on bonus depreciation (168(k)), research expenses (174(a)), business interest limitations (163(j)), entertainment expenses (274), and expensing (179)
  • Excludes IRC Sections 168(n) and 174A from Florida's tax code adoption
  • Applies retroactively to January 1, 2026
  • Authorizes the Department of Revenue to adopt emergency rules effective for 6 months to implement the changes

Legislative Description

Internal Revenue Code

Last Action

Ordered engrossed, then enrolled

3/12/2026

Full Bill Text

No bill text available