The blueprint released Wednesday included at least two notable items: an increase in the exemption from the corporate income tax that would cost the state $21.6 million, and up to $70 million for land conservation efforts.
florida budget
Scott Pitches Cut of Sales Tax on Rental Properties and $80 Million for Cancer Research
Scott will ask lawmakers to support a $100 million reduction in the commercial lease tax that now brings in about $1.4 billion a year, and $60 million to existing cancer centers as they seek National Cancer Institute designation.
Scott Proposes Increasing Education Funding By $542 Million, Mostly For Public Schools
The bulk of the new spending — $542 million — would go to public schools. While that is far lower than the approximately $1 billion increases Scott sought in each of the last two years, his office touted the fact that it would bring spending on education to the highest level in state history in terms of raw dollars, though unadjusted for inflation.
Extra State Revenue Could Top $1 Billion As Legislature Approaches Spring Session
State economic forecasters added $324.3 million to expected tax revenues during the current budget year, which ends June 30, and the fiscal year that begins the next day. Because lawmakers have already passed a budget covering this year, all of the new money should be available for the spending plan that starts in July.
Projection Shows $846 Million Surplus Ahead of Florida’s 2014 Budget
The estimated $845.7 million surplus could be used during the 2014-15 fiscal year to increase spending or cut taxes — or it could be rolled into the budget for the following year. The projection comes with all sorts of caveats, as the 2014-15 year will not start until July 1.
Tax Subsidy May Trigger Free for All as Florida Cities Grab for Spring Training Teams
New rules for spring training funding offer up to $666,660 a year in sales tax revenue for stadium upgrades or construction if a community seeks to retain or entice a single team to move. The funding can jump to $1.33 million if a community can cobble together a two-team package.
Florida’s Surplus Adds Dollars to Services From Mental Health to Rape Crisis Centers
People with disabilities, domestic and sexual violence programs, mental health and substance abuse programs, juvenile justice and children’s services all got bigger budgets for the first time since the recession began.
Two Flagler Projects Among $368 Million in Vetoes as Scott Approves $74.1 Billion Budget
Having powerful House Speaker Will Weatherford on its board did not spare Heather Beaven’s Flagler Beach-based Florida Endowment Foundation from a veto eliminating its $2 million appropriation. Flagler also lost $150,000 for a retraining program.
Flagler Beach’s Endowment Foundation’s $2 Million on List of Annual Legislative “Turkeys”
The Flagler Beach -based Florida Endowent Foundation for Florida’s Graduates’ $2 million appropriation, representing all its budget, is among the 107 items of Florida Tax Watch’s annual “turkey” list in the Legislature’s $74.5 billion budget.
Nine Surprises You May Not Know Are in Florida’s New Budget
The Florida Legislature’s $74 billion budget contains, as always, innumerable surprises in the fine print, from $240,000 to be spent on orange juice served visitors at highway stops to $500,000 to advertise stay-in-state vacations to Floridians.