Bills We Are Tracking: Week Five
House Tax Package (Including Business Rent Tax/Tourist Development Tax Provisions)
HB 7099, sponsored by the House Finance & Tax Committee passed (96 Yeas + 17 Nays). Among several other tax cuts, HB 7099 would permanently reduce the business rent tax from 6% to 5%, beginning January 1, 2017, with an additional 1% point reduction (to 4%) in the calendar year 2018. HB 7099 would also require that a minimum of 35% of tourist development tax revenues would be used for promotion and advertising of tourism and allow up to 10% of remaining TDT revenues be used to fund additional emergency medical and law enforcement services in coastal counties. We urge all members to contact Senators on the Senate Appropriations Committee. Please click here for a sample letter.