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Legislative preview: liens, bonds and corporate taxes among many issues | Business Observer

Legislative preview: liens, bonds and corporate taxes among many issues | Business Observer
Written by publishing team

As of mid-December, more than 2,630 bills, resolutions and memorials have been submitted in advance of the 2022 Florida legislative session, which begins 60 days on January 11.

There were approximately 3,100 bills that Florida lawmakers had submitted for the 2021 session. By the time the legislature adjourned in late April, 468 had passed in one chamber and 275 in both houses, and had become 267 laws.

A small selection of important 2022 proposals previously submitted that could impact Florida business owners, commercial landowners, employers and workers include:

House Bill 439:A proposal by Representative Carlos Guillermo Smith, Democrat of Orlando, to establish a “Small Business Saturday” sales tax holiday on the Saturday after Thanksgiving. Senate Companion, Senate Bill 712, sponsored by Senator Annette Tadeo, Democrat of Miami.

Senator Annette Tadeo D-Miami.

SB 1250: Introduced by Senator Joe Grotters, R-Sarasota, the proposed bill would make items used by businesses and homeowners for “retrofit improvements” on their properties eligible for a state sales tax refund. Representative Nick DiCeglie, R-Indian Rocks Beach, introduced HB 863 home buddy.

SB 1090Sponsored by Gruters, the bill adopts the U.S. Internal Revenue Code of 2022 for inclusion in the state tax code, which on January 1 reverts to a 5.5% corporate tax rate from a temporary 3.5% rate. Florida adopted most of the measures in the 2017 Federal Tax Cuts and Jobs Act without concurrent amendments to the state tax code. As a result, companies have seen increased taxes after achieving a higher “adjusted federal income” due to a misalignment of federal and state codes. SB 1090 will review the time frame in which the adjusted corporate tax rate has exceeded expected collections; Provides for retroactive operation; And treatment adjustments regarding reward consumption.

HP 233: Proposal from Rep. Matt Welheit, D-Wellington, requires point-of-sale retailers to accept cash for goods and services. Senate Companion, SB 408, sponsored by Senator Shiffrin Jones, Dee West Park.

SB 336Sponsored by Senator Laurie Berman, D-Boynton Beach, the proposal seeks to amend Section 9 of the Florida Uniform Commercial Code (UCC) to clarify that regulations regarding debtor discharge do not apply to equity in a general partnership, limited partnership or LLC. HP 519, FRep. Tom Lake, R-Ormond Beach, also touches on UCC’s third-party rights.

Representative Josie Tomko, R Polk City

SB 228: The proposed bill, sponsored by Senator Ana Maria Rodriguez, R-Doral, suggests that a residential or commercial property owner may apply to Resiliency Energy Environment Florida (REEF) for funding to fund a qualified improvement and may enter into an appraisal funding agreement with a local government. House copy, HB 101, carried by Rep. Randy Fine, R Palm Bay.

SB 406: Sponsored by Senator Laurie German, D-Boynton Beach, the proposed bill addresses “secured transactions” and seeks to ensure that Florida residents who have pledged public assets to secure a loan cannot inadvertently put protected assets, such as IRAs and retirement benefits, at risk without a written waiver specific.

SB 512: The proposal by Senator Danny Burgess, RZ Zephyrhills, is this year’s edition of the annual attempt to pre-empt local regulation of vacation rentals and its digital marketing platforms into the state. Submitted by Representative Jason Fisher, R. Jacksonville, House Companion, HB 325.

Senator Danny Burgess, R Zephyrhills

SB 924Submitted by Senator Jennifer Bradley, R-Orange Park, the proposal would reduce room-count requirements for hotels and square-foot requirements for restaurants to be eligible for a liquor license. Representative Josie Tomko, of the Polk City Republic, introduced a similar bill in the House, HB 715.

87Sponsored by Representative Kevin Chambliss, D-Homestead, the motion would modify the period of time during which a conviction, or other sentence, of a crime can be grounds for refusal of license in specific occupations from five years to two years. Senator Keith Perry, Republican of Gainesville, introduced a Senate Companion, SB 1118.

HP 719Sponsored by Rep. David Smith, R. Winter Springs, the proposal would require the Florida Building Commission to adopt state building code requirements for swimming rods in commercial and public swimming pools.

446: This proposal made by Senator Annette Tadeo, Democrat of Miami, would raise state preemption for local governments setting their own minimum wages. Representative Carlos Guillermo Smith, D-Orlando, submitted transcript to the House of Representatives, HB 6047.

It. Joe Grotters, R Sarasota

589: Proposal from Representative Joe Harding, R. Williston, seeks to create sales tax exemptions for contractors hired for public works infrastructure projects. Senator Ed Hooper, Republican of Clearwater, introduced Senate version SB 930.

HB 41Sponsored by Rep. Toby Overdorf, R. Palm City, the proposal requires “litigation financiers” to register with the Florida Department of State and file surety bonds, among other provisions.

HB 123: Submitted by the House Insurance and Banking Subcommittee, the proposal relates to consumer finance loans and will authorize licensees, who apply for a license, to make and collect loans under the Florida Consumer Finance Act after submitting a bond and certificate of deposit or letter of credit in place of liquid assets. Gruters, A Companion to the Senate, SB 546.

HB 275: The proposal, made by Representative Juan Fernandez-Barquin, Republican of Miami, would revise the definition of “loss operating statement” in insurance claims and specify which entities should receive loss operating data requests and that insurers should submit loss operating statements, among other things sponsored by Senator Doug Brookson, R. Pensacola, Companion to the Senate, SB 156.

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