summary
Introduced
11/08/2017
11/08/2017
In Committee
11/15/2017
11/15/2017
Crossed Over
Passed
Dead
03/10/2018
03/10/2018
Introduced Session
2018 Regular Session
Bill Summary
Requires Legislature to appropriate moneys, beginning in specified fiscal year, to offset reductions in ad valorem tax revenue experienced by rural communities within rural area of opportunity which result from specified additional exemption; specifies how moneys are to be distributed; specifies mechanism for reversion of funds in specified situations.
AI Summary
This bill amends Florida Statute 218.125 to require the legislature to appropriate monies, starting in the 2019-2020 fiscal year, to offset reductions in ad valorem (property) tax revenue experienced by fiscally constrained counties and rural communities within designated rural areas of opportunity. These reductions are a direct result of the implementation of a constitutional amendment approved in November 2018 that authorizes an additional $25,000 homestead exemption for all levies except school district levies. The bill specifies how the monies are to be distributed and provides a mechanism for the reversion of funds in certain situations.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Died in Appropriations Committee (on 03/10/2018)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | http://www.flsenate.gov/Session/Bill/2018/593 |
| Bill | http://www.flsenate.gov/Session/Bill/2018/593/BillText/Filed/PDF |
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