Florida S0932 establishes a fund to offset ad valorem tax revenue losses in fiscally constrained counties.

Florida S0932 creates a fund to offset reductions in ad valorem tax revenue for fiscally constrained counties. Beginning in the 2027-2028 fiscal year, the Legislature must appropriate moneys to compensate for these reductions. Fiscally constrained counties must apply annually to the Department of Revenue to participate in the fund distribution. The application requires documentation of the estimated reduction in taxable value and county millage rates. The fund distribution is based on each county's proportion of the total reduction in ad valorem tax revenue.

Florida S0932 establishes a fund to offset ad valorem tax revenue losses in fiscally constrained counties.

Florida S0932 creates a fund to offset reductions in ad valorem tax revenue for fiscally constrained counties. Beginning in the 2027-2028 fiscal year, the Legislature must appropriate moneys to compensate for these reductions. Fiscally constrained counties must apply annually to the Department of Revenue to participate in the fund distribution. The application requires documentation of the estimated reduction in taxable value and county millage rates. The fund distribution is based on each county's proportion of the total reduction in ad valorem tax revenue.