Tallahassee–The Florida Senate Committee on Appropriations, chaired by Senator Tom Lee (R-Brandon) today passed House Bill 7099, as amended with the content of the Senate tax relief package. This legislation, combined with provisions of the 2016-17 General Appropriations Act, will deliver $400 million in broad-based tax relief for Florida families and business.
Senate President Andy Gardiner (R-Orlando) released the following statement:
“As Florida’s economy improves, property values across our state are rising, bringing increased equity to residential and commercial property owners across our state. Unfortunately, the practical impact of rising property values is higher property taxes. This year, the Legislature is taking important steps to mitigate that impact, by reducing local millage rates and using only state tax dollars to pay for a $478 million increase in education funding. This is a win-win scenario for our state. K-12 per student funding is at an all-time high, but state taxes dollars, rather than the property taxes of local homeowners and businesses, will cover the cost of that increase.
“This tax relief legislation also promotes private sector job creation and business expansion by permanently eliminating the sales tax on machinery and manufacturing equipment. This important savings can be a big difference for businesses looking to locate and expand in our state. Making this existing exemption permanent is a priority for Governor Scott, and we are pleased to support in his efforts to make Florida first in the nation in job creation.
“Another highlight of this important legislation is a Back-To-School Sales Tax Holiday that will provide savings for Florida families this summer as they prepare for the new school year.”
For more information on the Senate amendment to House Bill 7099, please visit www.FLSenate.gov.