Florida Senate - 2012 COMMITTEE AMENDMENT Bill No. SB 760 Barcode 271688 LEGISLATIVE ACTION Senate . House . . . . . ————————————————————————————————————————————————————————————————— ————————————————————————————————————————————————————————————————— The Committee on Community Affairs (Richter) recommended the following: 1 Senate Amendment (with title amendment) 2 3 Delete everything after the enacting clause 4 and insert: 5 Section 1. Section 205.0315, Florida Statutes, is repealed. 6 Section 2. Section 205.0316, Florida Statutes, is created 7 to read: 8 205.0316 Local business tax phase out.— 9 (1) Notwithstanding any other provision of this chapter, 10 beginning October 1, 2012, local business tax rates levied 11 pursuant to this chapter may not be increased. Each county and 12 municipality levying a local business tax must reduce the local 13 business tax rate applicable to each business and occupational 14 classification as follows: 15 (a) For business tax receipts due after October 1, 2013, 16 and on or before September 30, 2014, to an amount no greater 17 than five-sixths of the rate in effect on September 30, 2012. 18 (b) For business tax receipts due on or before September 19 30, 2015, to an amount no greater than four-sixths of the rate 20 in effect on September 30, 2012. 21 (c) For business tax receipts due on or before September 22 30, 2016, to an amount no greater than three-sixths of the rate 23 in effect on September 30, 2012. 24 (d) For business tax receipts due on or before September 25 30, 2017, to an amount no greater than two-sixths of the rate in 26 effect on September 30, 2012. 27 (e) For business tax receipts due on or before September 28 30, 2018, to an amount no greater than one-sixth of the rate in 29 effect on September 30, 2012. 30 (f) For business tax receipts due on or before September 31 30, 2019, to zero. 32 (2) A county or municipality whose business tax receipts 33 during its 2012-2013 fiscal year comprise at least 25 percent of 34 the county or municipality’s total revenue derived from local 35 taxes levied by the county or municipality in that fiscal year 36 may opt out of subsection (1). However, a qualifying county or 37 municipality choosing this option may not increase its general 38 county millage, general municipal millage, or any dependent 39 special district millage in any fiscal year above the level in 40 effect for the 2012-2013 fiscal year, unless it ceases levying 41 all local business taxes authorized under this chapter in the 42 same fiscal year. Any qualifying county or municipality that 43 does not reduce its local business tax rates pursuant to 44 subsection (1), beginning with business tax receipts due on or 45 before September 30, 2014, will be deemed to have opted out of 46 subsection (1) and will instead be subject to this subsection. 47 The terms “general county millage,” “general municipal millage,” 48 and “dependent special district millage” have the same meanings 49 as described in s. 200.001(1). 50 Section 3. Notwithstanding revisions made to chapter 205, 51 Florida Statutes, by this act, counties or municipalities 52 imposing a local business tax as of March 9, 2012, pursuant to 53 chapter 205, Florida Statutes, may continue to levy such tax in 54 the same manner and with the same rates and classifications as 55 are in effect on March 9, 2012, to the extent necessary to meet 56 all obligations to, or for the benefit of, holders of bonds or 57 certificates that were issued before March 9, 2012, and for 58 which taxes levied pursuant to chapter 205, Florida Statutes, 59 are expressly identified and pledged as security, separate from 60 any other pledge of non-ad valorem revenues. Expenditures of 61 revenues from tax levies continued pursuant to this section are 62 limited to meeting obligations required by bonds or certificates 63 that were issued before March 9, 2012. Revenues collected in 64 excess of amounts necessary to meet obligations of bonds or 65 certificates must be refunded to taxpayers in proportion to the 66 amount of taxes paid by each taxpayer. A county or municipality 67 may not pledge revenues derived from local business taxes 68 imposed under chapter 205, Florida Statutes, as security for 69 bonds or certificates issued on or after March 9, 2012. 70 Section 4. This act shall take effect upon becoming a law. 71 72 ================= T I T L E A M E N D M E N T ================ 73 And the title is amended as follows: 74 Delete everything before the enacting clause 75 and insert: 76 A bill to be entitled 77 An act relating to local business taxes; repealing s. 78 205.0315, F.S., relating to provisions authorizing 79 certain county or municipalities to adopt a business 80 tax ordinance; creating s. 205.0316, F.S.; requiring 81 the reduction of local business tax rates over time; 82 providing an optional exception; providing that 83 municipalities may continue to levy taxes repealed 84 under the act in order to meet all obligations to 85 holders of bonds or certificates; providing an 86 effective date.