A package that would provide $61.5 million in tax reductions next fiscal year will be introduced Friday by the House, including holding sales tax “holidays” on back-to-school supplies and hurricane gear and a “freedom week” related to entertainment and outdoor activities.
The package, which will be taken up by the House Ways & Means Committee, comes as Senate President Wilton Simpson and House Speaker Chris Sprowls advised members Thursday to expect formal budget negotiations to take place this weekend.
The House tax package (PCB WMC 21-01) is topped by a seven-day tax holiday in early August as students prepare to go back to school. During the period, shoppers would be able to avoid paying sales taxes on clothes costing $60 or less, school supplies costing $15 or less and personal computers costing less than $1,000.
During a disaster-preparedness holiday over seven days around the June 1 start of hurricane season, shoppers would be able to avoid paying sales taxes on items ranging from tarpaulins and small batteries to portable generators costing up to $750.
The “Freedom Week” holiday, which would be held the first week of July, would provide a sales-tax exemption on tickets purchased for such things as live music, athletic contests and in-theater movies.
The bill also includes proposals such as a property tax discount for certain multifamily projects that provide affordable housing to low-income families. It also would allow local governments to use tourist-development and convention-development taxes for flood mitigation projects.
Republished with permission from News Service of Florida.