2024 Florida Legislative Session Wrap-Up

The 2024 Florida Legislative Session Wrap-Up offers a concise yet thorough review of the session's key outcomes. With a $117.5 billion budget, over $1 billion in tax relief, and nearly $10 billion in reserves, the Legislature addressed crucial issues in healthcare, education, insurance, and the environment. The report provides an insightful overview of the bills and budget items that passed, as well as notable legislation that failed to advance, making it an essential resource for understanding the current state of Florida policy and its implications for residents and taxpayers.

Session Summary: 2024 Taxpayer Roundup

/ Categories: Research, Budget/Approps

The Florida TaxWatch's 2024 Legislative Session Taxpayer Roundup report provides a comprehensive overview of significant tax legislation in Florida, highlighting nearly $1 billion in tax relief measures, including toll credits and potential property tax savings through a proposed constitutional amendment. Key successes include substantial tax cuts, sales tax holidays, and new tax credits aimed at supporting employment and child care.

State General Revenue Estimates Increase Again

CURRENT YEAR SURPLUS NOW $8.8 BILLION

/ Categories: Research, Budget/Approps

The August 18 General Revenue Estimating Conference (REC) increased Florida’s general revenue projections by $1.567 billion (3.6 percent) in the current budget year and $1.203 billion (2.6 percent) in FY2024-25--a two-year total of $2.770 billion.  Add in the $1.084 billion that actual collections exceeded the previous estimate in the last four months of FY2022-23, and the Legislature has an additional $3.854 billion available for next state budget.  The new estimate accounts for the $1 billion reduction in revenues from 2023 tax relief and other legislative changes. 

2023 Budget Turkey Watch Report

An analysis of the transparency and accountability of the budget process

/ Categories: Research, Budget/Approps, Budget Turkeys, Taxpayer Guide

This is the Florida TaxWatch annual independent review of Florida’s FY2023-24 budget process. The report was started in 1983 and promotes oversight and integrity in the state’s budgeting process based on the principle that: because money appropriated by the Legislature belongs to the taxpayers of Florida, the process must be thorough, thoughtful, transparent, and accountable.  Every appropriation should receive proper deliberation and public scrutiny.  This includes member-requested projects.  

$670 Million Added to the New State Budget Through the Sprinkle Lists Deserves Close Scrutiny During the Governor’s Veto Deliberations

/ Categories: Research, Budget/Approps, Budget Turkeys

Florida’s new state budget for FY2023-24 carries a price tag of $117.0 billion, which is a 6.2 percent increase over current spending. The budget also contains a few billion dollars in spending that is technically appropriated for FY2022-23, so it is not included in the $117.0 billion total. 

Budget Sprinkle Lists Diminish Confidence in the Budget Process and Should Be Discontinued

/ Categories: Research, Budget/Approps, Budget Turkeys

Ten years ago, the Legislature began a budgeting practice that is not in the interest of sound budgeting, transparency, thoughtful deliberation, or the taxpayers of Florida. The practice in question is the introduction of Supplemental Funding lists. These have - come to be commonly known, and even referred to by legislators, as the “Sprinkle Lists” – as in the “sprinkling” of millions of additional dollars for appropriations projects around the state at the last-minute during budget conference. 

The What, Why, and How of the Florida TaxWatch Budget Turkey Watch Report

/ Categories: Research, Budget/Approps, Budget Turkeys

The annual Florida TaxWatch Budget Turkey Watch Report was started in 1983 and promotes oversight and integrity in the state’s budgeting process. The report identifies appropriations that circumvent proper review, transparency, and accountability standards and is presented to the Governor for inclusion in his or her veto considerations

Water Turkeys: Despite Increased Funding for Florida’s Water Resources and the Creation of New Competitive Grants Processes, Local Member Earmarks are Proliferating

/ Categories: Research, Budget/Approps, Budget Turkeys

Florida has been making very large investments in the protection and restoration of the state’s water resources. On his second day in office, Governor Ron DeSantis issued an Executive Order making water a top priority. The Executive Order called for funding of $2.5 billion over four years—$625 million a year—to significantly expedite Everglades restoration and enhance the protection of our water systems. This goal was surpassed, with $3.3 billion appropriated by the Florida Legislature in the last four years for specific key water funding in addition to hundreds of millions more in water-related appropriations also in the state budget.

BudgetWatch: New General Revenue Estimates Add $7 Billion for the Next Budget

/ Categories: Research, Budget/Approps

In what has been a regular occurrence, the Florida General Revenue (GR) Estimating Conference significantly increased the estimate of the amount of GR that will be collected. This is the sixth conference in a row that has produced a rosier revenue forecast. The last reduced estimate came at the August 2020 conference, just as the coronavirus pandemic began its relatively short-lived slowdown of Florida’s revenue collections.

A Closer Look at Florida’s Sales Tax Exemptions

/ Categories: Research, Taxes, Budget/Approps, Taxpayer Guide

The six percent sales and use tax is Florida state government’s largest revenue sourceby far, currently bringing in approximately $36 billion annually. When the almost $6 billion in local option sales tax collections is included with the state tax, the $42 billion total collections make the sales tax the number one tax source for all Florida governments, topping the $40 billion local property tax.