Florida legislative leaders have announced a breakthrough agreement on the state’s budget for the upcoming fiscal year, with a vote potentially scheduled for Monday. This development comes after a prolonged special session, reconvened following the regular session’s adjournment without a budget on May 23.
House Speaker Daniel Perez, R-Miami, informed members that the constitutionally mandated 72-hour review period will commence Friday evening, leading to a vote after a three-hour session on Monday. Budget conferees are set to finalize conforming bills, including a significant tax relief package and the budget implementation bill, in a final meeting on Friday.
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The proposed budget includes a $50 billion general fund, derived solely from state tax revenues like the 6% sales tax. When factoring in federal and dedicated funds, such as the Florida Lottery, the total budget is expected to reach approximately $119.8 billion.
A key component of the agreement is a tax relief package totaling an estimated $2.25 billion. This includes the elimination of the business rent tax, projected to save businesses $900 million, and permanent sales tax exemptions amounting to $350 million.
Rep. Lawrence McClure, R-Dover, House Budget Committee chairman, expressed gratitude for the Senate’s cooperation in “reimagining or recalibrating the spending practices of the state of Florida.” He acknowledged the difficulty of these conversations, stemming from diverse perspectives across the state.
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Senate Committee on Appropriations Chairman Ed Hooper, R-Palm Harbor, emphasized the lawmakers’ commitment to avoiding a government shutdown, highlighting the long hours dedicated to delivering a “responsible, balanced budget.”
The new fiscal year for Florida begins on July 1, making the impending vote crucial for state operations.
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