HB 33A- Relating to Taxation
On Tuesday, June 2nd, HB 33A, relating to Taxation, by the House Finance & Tax Committee, was heard in the House Finance & Tax Committee and passed with 12 yeas and 5 nays. AIF’s Senior Vice President of State and Federal Affairs, Brewster Bevis, stood in support of this bill.
HB 33A will include the following tax rate reductions: state communications services tax (CST) rate by 0.9 percentage points, with an additional temporary 0.9 percentage point reduction in the following year; state sales tax rate on rental of commercial real estate by 0.4 percentage points, with an additional temporary 0.1 percent reduction in the following year. The bill includes new or expanded sales tax exemptions for the following: agricultural items, including feed for aquatic organisms, irrigation equipment, costs of maintenance and repairs of irrigation and power farm equipment, stakes, and certain trailers; K-12 school food and beverage concessions in support of extracurricular activities; machinery and equipment used for metal recycling; gun club memberships or admissions; and motor vehicles brought to Florida by military service members deployed outside of the U.S.
This bill will also provide sales tax holidays: a three-day “back-to-school” holiday for clothing, footwear, school supplies, and computers; a one day tax free period on November 28, 2015, for sales of items priced at $1,000 or less by certain small businesses; and a single-day tax free period for college textbooks and instructional materials near the beginning of the fall, spring, and summer semesters during the 2015-2016 academic year. This bill is estimated to have a total impact for the 2015-2016 fiscal years of -$273.2 million.
On Friday, June 5th, HB 33A was read for a third time on the House floor passed 97 yeas tp 10 nays.
AIF supports tax cuts for Florida’s consumers and businesses.