Florida Senate - 2022 COMMITTEE AMENDMENT
Bill No. SB 1748
Ì247456AÎ247456
LEGISLATIVE ACTION
Senate . House
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The Committee on Finance and Tax (Brodeur) recommended the
following:
1 Senate Amendment (with title amendment)
2
3 Between lines 137 and 138
4 insert:
5 Section 3. Section 218.125, Florida Statutes, is amended to
6 read:
7 218.125 Offset for tax loss associated with certain
8 constitutional amendments affecting fiscally constrained
9 counties.—
10 (1)(a) Beginning in the 2010-2011 fiscal year, the
11 Legislature shall appropriate moneys to offset the reductions in
12 ad valorem tax revenue experienced by fiscally constrained
13 counties, as defined in s. 218.67(1), which occur as a direct
14 result of the implementation of revisions of ss. 3(f) and 4(b)
15 of Art. VII of the State Constitution which were approved in the
16 general election held in November 2008. The moneys appropriated
17 for this purpose shall be distributed in January of each fiscal
18 year among the fiscally constrained counties based on each
19 county’s proportion of the total reduction in ad valorem tax
20 revenue resulting from the implementation of the revisions.
21 (b) Beginning in the 2023-2024 fiscal year, the Legislature
22 shall appropriate moneys to offset the reductions in ad valorem
23 tax revenue experienced by fiscally constrained counties, as
24 described in s. 218.67(1), which occur as a direct result of
25 implementation of the addition of s. 6(g) of Art. VII of the
26 State Constitution which was approved in the general election
27 held in November 2022. The moneys appropriated for this purpose
28 shall be distributed in January of each fiscal year among the
29 fiscally constrained counties based on each county’s proportion
30 of the total reduction in ad valorem tax revenue resulting from
31 the implementation of s. 6(g) of Art. VII of the State
32 Constitution.
33 (2) On or before November 15 of each year, each fiscally
34 constrained county shall apply to the Department of Revenue to
35 participate in the distribution of the appropriation and provide
36 documentation supporting the county’s estimated reduction in ad
37 valorem tax revenue in the form and manner prescribed by the
38 Department of Revenue. The documentation must include an
39 estimate of the reduction in taxable value directly attributable
40 to revisions of Art. VII of the State Constitution for all
41 county taxing jurisdictions within the county and shall be
42 prepared by the property appraiser in each fiscally constrained
43 county. The documentation must also include the county millage
44 rates applicable in all such jurisdictions for the current year
45 and the prior year, rolled-back rates determined as provided in
46 s. 200.065 for each county taxing jurisdiction, and maximum
47 millage rates that could have been levied by majority vote
48 pursuant to s. 200.065(5).
49 (a) For purposes of paragraph (1)(a) this section, each
50 fiscally constrained county’s reduction in ad valorem tax
51 revenue shall be calculated as 95 percent of the estimated
52 reduction in taxable value multiplied by the lesser of the 2010
53 applicable millage rate or the applicable millage rate for each
54 county taxing jurisdiction in the current year. If a fiscally
55 constrained county fails to apply for the distribution, its
56 share shall revert to the fund from which the appropriation was
57 made.
58 (b) For purposes of paragraph (1)(b), each fiscally
59 constrained county’s reduction in ad valorem tax revenue shall
60 be calculated as 95 percent of the estimated reduction in
61 taxable value multiplied by the lesser of the 2023 applicable
62 millage rate or the applicable millage rate for each county
63 taxing jurisdiction in the current year. If a fiscally
64 constrained county fails to apply for the distribution, its
65 share shall revert to the fund from which the appropriation was
66 made.
67
68 ================= T I T L E A M E N D M E N T ================
69 And the title is amended as follows:
70 Between lines 20 and 21
71 insert:
72 amending s. 218.125, F.S.; requiring the Legislature
73 to appropriate moneys to offset reductions in ad
74 valorem tax revenues experienced by fiscally
75 constrained counties due to adoption of the
76 constitutional amendment providing the additional
77 homestead property tax exemption; specifying
78 procedures for distributing such moneys; specifying
79 procedures for applying for and receiving such moneys;
80 specifying necessary documentation; specifying the
81 method for calculating each fiscally constrained
82 county’s reduction in ad valorem tax revenue;
83 specifying a mechanism for the reversion of funds
84 under specified circumstances;