Florida TaxWatch Briefing Warns Against Expanding Diversions for Tourist Development Tax Revenue
TALLAHASSEE, Fla. – Today, Florida TaxWatch (FTW) released its latest briefing, Diverting Tourist Development Tax Revenue: Florida Shouldn’t “Eat Our Seed Corn” by Diverting Tourist Development Tax Revenue warning against continued expansion by the Florida Legislature of authorized uses for locally imposed tourist development taxes (TDT).
Florida TaxWatch President and CEO Dominic M. Calabro said, “Since the authorization of locally imposed tourist development taxes in Florida in 1977, the revenue generated by TDTs has continuously been spread to accommodate new uses, diluting the funding available for its true purpose: tourism promotion and advertising. Now, in 2020, the Florida Legislature is again considering legislation (HB 7097) to expand authorized uses for TDTs and divert additional money away from Florida tourism efforts. As we have seen in recent years, risks to Florida’s tourism industry can arise at a moment’s notice, whether it be hurricanes, the Zika virus, economic downturns, or new issues like the coronavirus. The increasing expansion of authorized uses for TDTs is troubling and we urge the legislature to not continue to allow Florida to ‘eat our tourism seed corn’ by diverting additional TDT revenue.”
You can read the full briefing HERE.
About Florida TaxWatch
As an independent, nonpartisan, nonprofit government watchdog and taxpayer research institute for more than forty years and the trusted eyes and ears of Florida taxpayers, Florida TaxWatch works to improve the productivity and accountability of Florida government. Its research recommends productivity enhancements and explains the statewide impact of fiscal and economic policies and practices on citizens and businesses. Florida TaxWatch is supported by its membership via voluntary, tax-deductible donations and private grants, and does not accept government funding. Donations provide a solid, lasting foundation that has enabled Florida TaxWatch to bring about a more effective, responsive government that is more accountable to, and productive for, the citizens it serves since 1979. For more information, please visit www.floridataxwatch.org.