Florida Senate - 2026                                     SB 932
       
       
        
       By Senator McClain
       
       
       
       
       
       9-00417-26                                             2026932__
    1                        A bill to be entitled                      
    2         An act relating to ad valorem tax revenue in fiscally
    3         constrained counties; creating s. 218.137, F.S.;
    4         requiring the Legislature to appropriate funds for a
    5         specified purpose; requiring that such funds be
    6         distributed in a specified manner; requiring specified
    7         counties to apply for such distribution; providing
    8         requirements for application; providing a specified
    9         calculation to be used to determine funding; providing
   10         for a reversion of funds in specified circumstances;
   11         providing a contingent effective date.
   12          
   13  Be It Enacted by the Legislature of the State of Florida:
   14  
   15         Section 1. Section 218.137, Florida Statutes, is created to
   16  read:
   17         218.137 Offset for ad valorem tax revenue loss affecting
   18  fiscally constrained counties.—
   19         (1) Beginning in the 2027-2028 fiscal year, the Legislature
   20  shall appropriate moneys to offset the reductions in ad valorem
   21  tax revenue experienced by fiscally constrained counties, as
   22  defined in s. 218.67(1), which occur as a direct result of the
   23  implementation of the amendment to s. 3(a), Art. VII of the
   24  State Constitution approved at the November 2026 general
   25  election. The moneys appropriated for this purpose shall be
   26  distributed in January of each fiscal year among the fiscally
   27  constrained counties based on each county’s proportion of the
   28  total reduction in ad valorem tax revenue resulting from the
   29  implementation of the amendment to s. 3(a), Art. VII of the
   30  State Constitution.
   31         (2) On or before November 15 of each year, each fiscally
   32  constrained county shall apply to the Department of Revenue to
   33  participate in the distribution of the appropriation and provide
   34  documentation supporting the county’s estimated reduction in ad
   35  valorem tax revenue in the form and manner prescribed by the
   36  Department of Revenue. The documentation must include an
   37  estimate of the reduction in taxable value directly attributable
   38  to the amendment to s. 3(a), Art. VII of the State Constitution
   39  approved at the November 2026 general election for all county
   40  taxing jurisdictions within the county and must be prepared by
   41  the property appraiser in each fiscally constrained county. The
   42  documentation must also include the county millage rates
   43  applicable in all such jurisdictions for the current year and
   44  the prior year, rolled-back rates determined as provided in s.
   45  200.065 for each county taxing jurisdiction, and maximum millage
   46  rates that could have been levied by majority vote pursuant to
   47  s. 200.065(5). For purposes of this section, each fiscally
   48  constrained county’s reduction in ad valorem tax revenue shall
   49  be calculated as 95 percent of the estimated reduction in
   50  taxable value multiplied by the lesser of the 2026 applicable
   51  millage rate or the applicable millage rate for each county
   52  taxing jurisdiction in the current year. If a fiscally
   53  constrained county fails to apply for the distribution, its
   54  share shall revert to the fund from which the appropriation was
   55  made.
   56         Section 2. This act shall take effect January 1, 2027, if
   57  the amendment to the State Constitution proposed by CS/HJR 1215,
   58  as adopted at the 2025 Regular Session, is approved at the next
   59  general election or at an earlier special election specifically
   60  authorized by law for that purpose.