This bill amends various sections of the Florida Statutes to introduce new tax credits and programs aimed at enhancing economic development and providing tax relief. A significant feature is the establishment of the "Home Away From Home Tax Credit," which allows taxpayers to claim a credit of 100% of eligible contributions to designated charitable organizations supporting families of critically ill children, effective January 1, 2026. The bill also creates the Rural Community Investment Program, which offers tax credits and support for eligible businesses in rural areas, with a cap of $7 million per fiscal year. Additionally, it outlines new requirements for property appraisers and the value adjustment board, including electronic communication for hearings and the submission of evidence.

Furthermore, the bill introduces several sales tax holidays, including a "Freedom Months" holiday and a sales tax holiday for disaster preparedness supplies, aimed at stimulating consumer spending. It also establishes a one-time credit for motor vehicle registrations active as of June 30, 2025, and mandates a study on the property tax structure in Florida, focusing on homestead properties. The bill includes provisions for the confidentiality of tax information shared between state departments and allows for emergency rules to ensure timely implementation of its various provisions. Overall, the legislation seeks to streamline tax processes, enhance support for charitable and educational entities, and promote economic activity in Florida.

Statutes affected:
S 7034 Filed: 125.0104, 193.4516, 193.461, 194.014, 194.171, 196.151, 196.198, 212.06, 212.08, 220.02, 402.62, 561.121, 624.509, 1002.945