The House only has two committee meetings scheduled for today, and the Policy and Budget Council is the one to watch.
The Council will hear HB 7057, a committee bill by the Jobs and Entrepreneurship Council which recreates the My Safe Home program. The program provides grants to homeowners to assist with hurricante mitigation improvements.
The Council will also debate a proposed committee bill, PCB 07-01, which will contain the House’ property tax reform plan. It has changed slightly, including giving counties the power to decide on several measures. The bill proposes:
- An exemption for all homestead property from the “required local match” component of the Florida Education Funding Program, and replaces that revenue with a 1% sales tax;
- Permission for school boards to exempt all homestead property from ad valorem taxes, subject to a referendum, and replace that revenue with a ½% sales tax;
- Permission for counties to exempt all homestead propert from ad valorem taxes collected by all taxing authorities except schools, subject to a referendum, and replace that revenue with a 1% sales tax;
- A limit on the millage rate increase, for all authorities except schools, to the “rolled back rate” (which factors in growth) adjusted by the Consumer Price Index (which factors in inflation);
- A rolling back of the millage rates to what they would have been if the CPI limitation had been in place starting with the 2003-2004 fiscal year (a change from the originally-proposed 2000-2001 fiscal year);
- A new exemption for tangible personal property (paid by businesses) of up to $25,000; and
- Permission for the legislature to grant property tax relief for residents who rent rather than own a home.
It appears to be a sofetning of the House’ earlier position on property tax reform.
The Senate has no meetings schedule for today.