SB 138 – relating to Tax-Exempt Income
On Monday, February 2nd, SB 138, relating to Tax-exempt Income, by Senator Dorothy Hukill (R-Port Orange) unanimously passed the Senate Appropriations Subcommittee on Finance and Tax. The bill now heads to its last stop before the floor in the full Senate Committee on Appropriations. AIF stood in support of this bill.

The bill increases the level of income that is exempt from the Florida corporate income tax. Florida imposes a 5.5 percent tax on the net income of corporations doing business in Florida. Currently the first $50,000 of a corporation’s income that is subject to Florida tax is exempted from the corporate income tax. This bill increases the exemption from $50,000 to $75,000.

AIF supports reducing the tax burden on Florida’s businesses and any measure that will make the state more attractive for conducting business.

HB 63 – relating to Public-Private Partnerships
On Wednesday, February 4th, HB 63, relating to Public-Private Partnerships by Representative Greg Steube (R-Sarasota), unanimously passed the House Government Operations Subcommittee. The bill now heads to its second of four stops in the House Economic Development & Tourism Subcommittee. AIF stood in support of the measure taken for this bill.

The bill takes the recommendations from the Partnership for Public Facilities and Infrastructure Act Guidelines Task Force created by legislation in 2013, and incorporates many of the recommendations contained in the task force report into law. The bill aims to provide for more opportunities for the private sector to enter into contracts for construction services with state universities and local governments.

The bill expands the list of entities authorized to conduct Public-Private Partnerships (P3s) to include state universities, clarifies the P3 process, provides increased flexibility to the responsible public entity by permitting that entity to deviate from the provided procurement timeframes, and authorizes the Department of Management Services to accept and maintain copies of agreements received from responsible public entities to share with municipalities/counties that may need assistance in the P3 process.

AIF strongly supports utilization of the private sector in helping to solve public construction needs. Government’s role is critical in securing and advancing our state’s infrastructure.