Bill > S0932

This bill creates a new section of Florida Statutes to provide financial support for fiscally constrained counties (counties with limited tax base or economic resources) that experience ad valorem (property) tax revenue losses due to a constitutional amendment expected to be voted on in November 2026. Starting in the 2027-2028 fiscal year, the Legislature will be required to appropriate funds to offset these tax revenue reductions, with the money to be distributed in January of each year proportionally among eligible counties. To receive funds, each fiscally constrained county must apply to the Department of Revenue by November 15, providing detailed documentation from their property appraiser that estimates the reduction in taxable property value. The bill specifies a calculation method for determining the revenue loss, using 95 percent of the estimated taxable value reduction multiplied by the applicable millage (tax) rate. If a county fails to apply for the distribution, its allocated funds will revert back to the original appropriation fund. The bill is contingent on the referenced constitutional amendment being approved at the November 2026 general election, with a planned effective date of January 1, 2027.

https://www.flsenate.gov/Session/Bill/2026/932