Florida – Proposed Sales Tax Holiday (SB 5601)

SALT Report 3349 – Revises provisions related to prepaid calling arrangements; imposes additional rate on gross receipts for electrical power or energy; reduces sales tax rate for charges for electrical power or energy; extends expiration date applicable to granting of community contribution tax credits; revises & provides exemptions from sales & use tax; requires DOR to distribute funds to State Transportation Trust Fund for certain transportation projects; increases amount of income exempt from corporate income tax; increases amount of income exempt from franchise tax imposed on banks & savings associations; provides for creation of Qualified Television Loan Fund; revises limits on tax credits that may be approved under New Markets Development Program; provides for Energy Star & WaterSense product sales tax holiday, physical fitness admissions tax suspension, school sales tax holiday, & hurricane preparedness sales tax holiday; provides appropriations. APPROPRIATION: $20,547,901.00

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Senate Bill 5601 Summary as of May 1, 2014

FL Senate Bill 5601Text