Florida 2024 Regular Session

Florida House Bill H7019 Compare Versions

Version 1 (Old)

Version 2 (New)

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10	10		F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
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14		-	1
	14	+	A bill to be entitled 1
15	15		An act relating to exemption of homesteads; amending 2
16	16		s. 196.031, F.S.; requiring the value of a certain 3
17	17		homestead exemption be adjusted annually; creating s. 4
18	18		218.136, F.S.; requiring the Legislature to 5
19	19		appropriate funds for a specified purpose; requiring 6
20	20		such funds be distributed in a specified manner; 7
21	21		requiring specified counties to apply for such 8
22	22		distribution; providing requirements for application; 9
23	23		providing a specified calculation to be used to 10
24	24		determine funding; providing for a reversion of funds 11
25	25		in specified circumstances; authorizing the Department 12
26	26		of Revenue to adopt emergency rules; providing 13
27	27		applicability; providing a contingent effective date. 14
28	28		15
29	29		Be It Enacted by the Legislature of the State of Florida: 16
30	30		17
31	31		Section 1. Paragraph (b) of subsection (1) of section 18
32	32		196.031, Florida Statutes, is amended to read: 19
33	33		196.031 Exemption of homesteads. — 20
34	34		(1) 21
35	35		(b) Every person who qualifies to receive the exemp tion 22
36	36		provided in paragraph (a) is entitled to an additional exemption 23
37	37		of up to $25,000 on the assessed valuation greater than $50,000 24
38	38		for all levies other than school district levies. The $25,000 25
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40		-	CS/HB 7019 2024 ~~Legislature~~
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51	51		value of the additional exemption provided in this paragraph 26
52	52		shall be adjusted annually on January 1 of each year for 27
53	53		inflation using the percentage change in the Consumer Price 28
54	54		Index for All Urban Consumers, U.S. City Average, all items 29
55	55		1967=100, or successor reports for the preceding calendar year 30
56	56		as initially reported by the United States Department of Labor, 31
57	57		Bureau of Labor Statistics, if such percent change is positive. 32
58	58		Section 2. Section 218.136, Florida Statutes, is created 33
59	59		to read: 34
60	60		218.136 Offset for ad valorem revenue loss affecting 35
61	61		fiscally constrained counties.— 36
62	62		(1) Beginning in fiscal year 2025 -2026, the Legislature 37
63	63		shall appropriate moneys to offset the reductions in ad valorem 38
64	64		tax revenue experienced by fiscally constrained counties, as 39
65	65		defined in s. 218.67(1), which occur as a direct result of the 40
66	66		implementation of revisions of s. 6(a) of Art. VII of the State 41
67	67		Constitution approved in the November 2024 general election. The 42
68	68		moneys appropriated for this purpose shall be distributed in 43
69	69		January of each fiscal year among the fiscally constrained 44
70	70		counties based on each county's proportion of the total 45
71	71		reduction in ad valorem tax revenue resulting from the 46
72	72		implementation of the revision of s. 6(a) of Art. VII of the 47
73	73		State Constitution. 48
74	74		(2) On or before November 15 of each year, each fiscally 49
75	75		constrained county shall apply to the Department of Revenue to 50
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84	84		F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
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88	88		participate in the distribution of the appropriation and provide 51
89	89		documentation supporting the county's estimated reduction in ad 52
90	90		valorem tax revenue in the form and manner prescribed by the 53
91	91		Department of Revenue. The documentation must include an 54
92	92		estimate of the reduction in taxable value directly attributable 55
93	93		to revisions of s. 6(a) of Art. VII of the State Constitution 56
94	94		approved in the November 2024 general election for all county 57
95	95		taxing jurisdictions within the county and shall be prepared by 58
96	96		the property appraiser in each fiscally constrained county. The 59
97	97		documentation must also include the county millage rates 60
98	98		applicable in all such jurisdictions for the current year and 61
99	99		the prior year, rolled -back rates determined as provided in s. 62
100	100		200.065 for each county taxing jurisdiction, and maximum millage 63
101	101		rates that could have been levied by majority vote pursuant to 64
102	102		s. 200.065(5). For purposes of this section, each fiscally 65
103	103		constrained county's reduction in ad valorem tax revenue shall 66
104	104		be calculated as 95 percent of the estimated reduction in 67
105	105		taxable value multiplied by the lesser of the 2024 applicable 68
106	106		millage rate or the applicable millage rate for each county 69
107	107		taxing jurisdiction in the current year. If a fis cally 70
108	108		constrained county fails to apply for the distribution, its 71
109	109		share shall revert to the fund from which the appropriation was 72
110	110		made. 73
111	111		Section 3. (1) The Department of Revenue may, and all 74
112	112		conditions are deemed met, to adopt emergency rules pursuant to 75
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125	125		s. 120.54(4), Florida Statutes, to administer this act. 76
126	126		(2) Notwithstanding any other provision of law, emergency 77
127	127		rules adopted pursuant to this section are effective for 6 78
128	128		months after adoption and may be renewed during the pendency of 79
129	129		procedures to adopt permanent rules. 80
130	130		Section 4. The amendments made by this act to s. 196.031, 81
131	131		Florida Statutes, and the creation by this act of s. 218.136, 82
132	132		Florida Statutes, first apply to the 2025 tax roll. 83
133	133		Section 5. This act shall take effect on the effective 84
134	134		date of the amendment to the State Constitution proposed by HJR 85
135	135		7017 or a similar joint resolution having substantially the same 86
136	136		specific intent and purpose , if such amendment is approved at 87
137	137		the next general election or at an earlier special election 88
138	138		specifically authorized by law for that purpose. 89