Bills We Are Tracking: Week Four
Business Rent Tax
This week, the Finance & Tax Committee, chaired by Rep. Matt Gaetz, (R – Shalimar), unanimously passed FTC4 – Relating to Taxation. Among several other tax cuts, FTC4 would permanently reduce the business rent tax from 6% to 5%, beginning Jan. 1, 2017, with an additional one percentage point reduction (to 4%) in the calendar year 2018.
Tourist Development Tax
FTC4 would require that a minimum of 35% of tourist development tax revenues would be used for promotion and advertising of tourism. It would also allow up to 10% of remaining TDT revenues to be used to fund additional emergency medical and law enforcement services in coastal counties. Anyone that is negatively impacted by the 10% provision is encouraged to contact their local lawmakers. To identify your local legislators go here. We are currently drafting a sample template letter to help with this issue.
Vacation Rentals
HB 1287, sponsored by Rep. George Moraitis, (R – Fort Lauderdale) and Rep. Debbie Mayfield, (R – Vero Beach) would amends the required documentation and information that must be submitted to the division upon application for a vacation rental license and amends the types of licenses that the division may issue for vacation rentals. It was was temporarily postponed by the House Business & Professions Subcommittee. All five vacation rental bills, tracked by FRLA, have not gained traction this session.