President Office — Press Release
FOR IMMEDIATE RELEASE
April 13, 2016
Governor Signs Broad-based Tax Relief Package
More than $550 million in tax relief to Florida families and businesses
Tallahassee–Senate President Andy Gardiner (R-Orlando) today commented on Florida Governor Rick Scott signing House Bill 7099 into law. The legislation provides broad-based tax relief for Florida families and businesses by permanently eliminating the sales tax for machinery and manufacturing equipment, establishing a 3-day Back-To-School Sales Tax Holiday, and reducing local property tax millage rates.
“It is an honor to support Governor Scott as he signs the final piece of legislation to fulfill his commitment to provide over $1 billion in tax relief to hard-working Floridians and business owners,” said President Gardiner. “Reducing taxes leads to private sector job creation and a flourishing economy that benefits all Floridians.”
“This tax relief package promotes economic development by permanently eliminating the sales tax on manufacturing machinery and equipment and will result in job creation and business expansion,” continued President Gardiner. “This August, the 3-day Back-To-School Sales Tax Holiday will help Florida families manage the costs of preparing their children for the upcoming school year. Additionally, by reducing local millage rates we are ensuring that state tax dollars, rather than local property taxes, cover a larger share of the unprecedented K-12 per-student funding allocated this year in our budget.”
House Bill 7099 provides significant broad-based tax relief to businesses and families across Florida.
Reducing Local Millage Rates
The 2016-17 General Appropriations Act, appropriates unprecedented per-student funding for K-12 education. The tax relief package reduces local millage rates. Together, these provisions raise the percentage contributed by state tax dollars to increase education funding, and lower the portion borne by local property taxpayers.
Permanent Sales Tax Exemption for Manufacturing Equipment
HB 7099 makes permanent the sales tax exemption for machinery and equipment used in manufacturing, agricultural post-harvest activities, and by metal recyclers.
Back-To-School Sales Tax Holiday
The legislation creates a three-day “back-to-school” sales tax holiday for clothing and footwear costing $60 or less, and school supplies costing less than $15 from August 5, 2016, to August 7, 2016. Among other tax relief measures HB 7099 also provides a sales tax exemption for sales of food and drink by veterans service organizations.
For more information on House Bill 7099, please visit www.FLSenate.gov.
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