The proposed bill, titled the "Freedom School and Safety Revenue Replacement Act," aims to amend Florida's sales tax laws by increasing the sales and use tax rate from 6% to 9% on retail sales of tangible personal property. Additionally, it mandates that one-third of the proceeds collected from this tax be allocated to fund the Florida Education Finance Program. The bill also introduces a new property sales surtax of 5% on certain property transactions, which will be collected similarly to existing property taxes, with the Department of Revenue responsible for distributing the collected funds to the respective county governing authorities.

Furthermore, the bill includes provisions for the Department of Revenue to return certain funds and establishes a contingent effective date that aligns with a proposed amendment to the State Constitution. This amendment must be approved in the next general election or an earlier special election for the bill to take effect. Overall, the legislation seeks to enhance funding for education and local governments through revised tax structures.

Statutes affected:
H 791 Filed: 212.05