Bill > S0802

This bill amends Florida law to gradually reduce and eventually eliminate a specific tax on manufactured asphalt used for government public works projects. The tax in question is an "indexed tax," meaning its amount is adjusted annually based on changes in the producer price index for construction materials, as published by the U.S. Department of Labor's Bureau of Labor Statistics. Specifically, the bill proposes to reduce this indexed tax by 20% starting July 1, 1999, by 40% starting July 1, 2000, by 60% starting July 1, 2016, and by 80% starting July 1, 2017. Finally, beginning July 1, 2018, manufactured asphalt used for any federal, state, or local government public works project will be completely exempt from this indexed tax. The bill takes effect on July 1, 2016.