Senate Committee Advances Pro-Business Tax Reform Package
By: Carolyn Johnson
The Florida Senate Appropriations Committee today advanced a Florida Chamber-backed tax reform package that supports job growth and strengthens Florida’s economic competitiveness. HB 7109 removes uncompetitive tax policies like the Florida-only business rent tax. The tax package that advanced today includes:
- A first step in fully repealing the Florida-only business rent tax (a .2 percent reduction),
- Provides $18 million in available tax credits for qualifying R&D in the 2018 application period, and
- Tax cuts for families, including a three-day back-to-school sales tax holiday.
The bill now travels to the full Florida Senate for a vote and will also need to pass the House before Friday, the scheduled conclusion of the Legislature’s 60-day session. The Florida Chamber thanks Representative Jim Boyd and Senator Kelli Stargel for their work on this tax package.
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