Bill > H0799

This bill creates a new section of Florida Statutes to provide financial assistance to fiscally constrained counties that experience ad valorem (property) tax revenue reductions due to a constitutional amendment anticipated to be voted on in November 2026. Beginning in the 2027-2028 fiscal year, the Legislature will appropriate funds to offset these revenue losses, with the money to be distributed in January of each year proportionally among eligible counties. To receive funding, fiscally constrained counties must apply to the Department of Revenue by November 15th each year, providing detailed documentation about their estimated tax revenue reduction, including calculations based on taxable value reductions, millage rates, and other specific financial information. The bill calculates the revenue reduction as 95 percent of the estimated taxable value reduction multiplied by the applicable millage rate. If a county fails to apply for the distribution, its share of funds will revert to the original appropriation fund. The bill's implementation is contingent on the approval of the referenced constitutional amendment at the November 2026 general election, with a planned effective date of January 1, 2027.

Budget and Finance

https://www.flsenate.gov/Session/Bill/2026/799