The bill, HB 7031, amends various sections of Florida Statutes with a focus on taxation, particularly concerning the tourist development tax, agricultural land assessment, and tax credits for affordable housing and charitable contributions. It revises the authorized uses of tourist development tax revenues, allowing counties to allocate funds for lifeguard services on certain beaches. The bill also introduces provisions for the assessment of agricultural lands affected by state or federal programs, ensuring they maintain their agricultural classification and are assessed at a minimal value for an extended period. Additionally, it establishes a Rural Community Investment Program aimed at supporting eligible businesses in rural areas through investments and tax credits.

Moreover, the bill modifies tax exemptions for affordable housing, specifying criteria for multifamily projects and properties owned by nonprofit entities. It introduces new tax credits for contributions to eligible charitable organizations and outlines the responsibilities of these organizations regarding compliance and reporting. The bill also includes provisions for tax credit applications, penalties for non-compliance, and adjustments to tax rates for various sectors, including aviation and natural gas fuel. Overall, HB 7031 aims to streamline tax processes, enhance support for specific sectors, and promote economic development in Florida.

Statutes affected:
H 7031 Filed: 203.0011, 212.05011, 212.0515, 212.0506, 212.06, 212.08
H 7031 e1: 125.0104, 163.3206, 193.4516, 193.461, 194.013, 194.014, 194.171, 196.012, 196.1978, 196.198, 201.15, 206.9925, 206.9942, 206.9955, 207.003, 207.005, 212.04, 212.05, 212.054, 212.0598, 212.06, 212.0602, 212.08, 212.12, 212.13, 213.053, 213.37, 215.22, 220.02, 220.03, 332.007, 332.009, 339.0801, 376.3071, 341.840, 343.58, 402.62, 420.50871, 550.0951, 551.104, 551.106, 561.121, 624.509, 849.086, 1002.395
H 7031 er: 125.0104, 163.3206, 193.4516, 193.461, 194.013, 194.014, 194.171, 196.012, 196.1978, 196.198, 201.15, 206.9925, 206.9942, 206.9955, 207.003, 207.005, 212.04, 212.05, 212.054, 212.0598, 212.06, 212.0602, 212.08, 212.12, 212.13, 213.053, 213.37, 215.22, 220.02, 220.03, 332.007, 332.009, 339.0801, 376.3071, 341.840, 343.58, 402.62, 420.50871, 550.0951, 551.104, 551.106, 561.121, 624.509, 849.086, 1002.395