HB 7076 – Transportation Network Companies

On Tuesday, February 20, SB 7076 by Senator Blaise Ingoglia (R-Spring Hill) and the Senate Finance and Tax Committee, was heard by the Senate Finance and Tax Committee and was reported favorably with 5 yeas and 0 nays. AIF stood in support of this legislation.

SB 7076 reworks a law passed in 2017 that defined transportation network companies (TNC’s) in Florida law and set a robust regulatory framework for TNC’s to follow. A TNC is defined as “an entity that uses a digital network to connect a rider to a TNC driver, who provides prearranged rides.” Since the implementation of this law, there has been a situation where one airport set significantly higher per-trip pickup fees for TNC’s.

SB 7076 ensures that all airports are to charge the same fees by prohibiting them from charging a pickup fee before the time the passenger enters the vehicle. In no case would the bill allow a fee to be greater than the lowest pickup fee charged to a taxicab company operating in the airport’s jurisdiction.

SB 7076 will now go to the Senate Floor for consideration.

AIF supports legislation that provides for regulatory certainty and consistency in competitive markets.

SB 7074/HB 7073 – Taxation

On Tuesday, February 20, SB 7074, a Proposed Committee Bill by the Senate Finance & Tax Committee was heard by the Senate Finance & Tax Committee and was reported favorably with 6 yeas and 0 nays.

Also on Tuesday, February 20, HB 7073, a Proposed Committee Bill by Representative Stan McClain (R-Ocala) and the House Ways & Means Committee was heard by the House Appropriations Committee and was reported favorably with 25 yeas and 4 nays.

The 2024 legislative tax package includes a myriad of tax cuts and relief ranging from sales tax holidays, changes to the current property tax rates, business rent tax, corporate income tax, etc. Below are some of the provisions in each bill that AIF is currently monitoring. Although similar, both the House and Senate versions have several significant differences that are highlighted below.

SB 7074

• Provides for “Sales Tax Holiday’s” for back-to-school, disaster preparedness, and recreational items between specified times.
• Increases ad valorem tax credits for facilities used for the capture, refinement, and production of organic biogas.
• Allows qualified railroads to apply for credit against corporate income tax at the conclusion of the tax year.
• Allows for the inclusion of companies who hire persons with disabilities to qualify for corporate income tax credits.
• Provides a 1-year exemption for flood insurance properties from the premium tax
• Requires insurer to provide a property insurance policyholder with a credit equal to 1.75 percent of the net premium due. This applies to policies that are valued at $750,000 or less.

 
HB 7073

• Reduces business rent tax to 1.25% from July 1, 2024 – June 30, 2025.
• Provides for “Sales Tax Holiday’s” for back-to-school, disaster preparedness, and recreational items between specified times.
• Allows for the inclusion of companies who hire persons with disabilities to qualify for corporate income tax credits.
• Increases ad valorem tax credits for facilities used for the capture, refinement, and production of organic biogas.

AIF is monitoring the negotiations of the House and Senate bills and will provide updates as the process moves forward when both chambers work out the details and come to an agreement. The major difference between the House and Senate versions are the changes to the insurance premium tax (Senate bill) and the business rent tax reduction (House bill).