Bill Summary

by Finance & Tax Subcommittee, Workman

Local Business Taxes: Creates business classifications; requires counties & municipalities levying local business tax to use rate structure that applies rates within specified parameters; authorizes county or municipality that has not adopted business tax ordinance to adopt ordinance consistent with ch. 205, F.S.; requires that such ordinance be approved by specified vote of governing body of county; revises conditions, requirements, & limitations with respect to authority of governing body of county to levy business tax; provides that incorporated municipality may levy business tax by ordinance approved by specified vote of governing body; revises conditions & requirements with respect to authority of governing body of municipality to levy business tax; authorizes counties & municipalities sharing common territory to issue business tax receipts on behalf of each other; revises provisions relating to business tax classification method & rate structure; provides limitations & requirements with respect to amount of new revenue that county or municipality may realize as result of new business tax rate structure authorized by act. Effective Date: October 1, 2014

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