The bill introduces a new section, 561.1215, to the Florida Statutes, which establishes excise tax deductions for distributors of malt beverages, wine, and liquor. It mandates that these distributors receive compensation in the form of a deduction from the excise tax due for alcoholic beverages that cannot be sold due to various reasons such as warehouse breakage, spoilage, or being unfit for consumption. The bill specifies the deduction amounts: 0.49% for wine, 0.15% for liquor, and 0.20% for malt beverages. Additionally, it outlines the calculation method for malt beverages and states that the deduction applies to all sales of the specified alcoholic beverages.

Furthermore, the bill defines "extraordinary loss" and requires distributors to notify the Division of Alcoholic Beverages and Tobacco immediately upon such losses, providing necessary proof and documentation. This includes evidence of the loss occurrence and the destruction, dumping, or recycling of the affected products. The bill also allows the division to adopt rules for its implementation and mandates that all records related to these deductions be maintained for at least three years. The act is set to take effect upon becoming law.