Session Week 5: Local Government Updates & FICPA Policies

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Session Week 5: Local Government Updates & FICPA Policies

 

As we reach the halfway point of the Florida Legislature’s 2018 Session, Florida CPAs will want to take note of newly introduced legislation that would affect local government reporting requirements, as well as a proposal for additional financial literacy education standards.

NEW: FICPA’s 2018 Legislative & Regulatory Policies

As part of the FICPA’s service to its members, the Committee on State Legislative Policy develops its Legislative and Regulatory Policies every year. These policies are developed and reviewed as part of a collaborative effort with FICPA subject matter experts to achieve favorable changes and advance our profession. Their comments regarding existing policies and issues that need to be addressed are used to assist the State Legislative Policy Committee in establishing priorities for the current fiscal year.

The 2018 Legislative & Regulatory Policies are available here.

Stay tuned as our Government Affairs team brings you additional updates throughout the rest of the 2018 Legislative Session.

Sincerely

Justin Thames
Director of Governmental Affairs

Florida CPA/PAC Needs You DONATE ONLINE

This November, voters will head to the ballot box to take part in the 2018 midterm elections – and the stakes couldn’t be higher. With the entire Cabinet, half of the State Senate, and the entire House of Representatives on this year’s ballot, the state’s fiscal and regulatory landscape could change dramatically by this time next year.

It’s more important than ever that we hear from you now.

The Florida CPA/PAC works tirelessly to inform those running for office about the issues that matter most to our members. Our success depends on your support. Lend your voice to our efforts by contributing to the annual fundraising campaign. Just send in your pledge form that you recently received, or make a contribution online or with your FICPA dues.

Please note: contributions are strictly voluntary and are not deductible for federal tax purposes. The Florida CPA/PAC is an entity completely separate from the FICPA. The Florida CPA/PAC is supported solely by the voluntary contributions of members of the FICPA and others

Week 3: Governmental Affairs Moves & State Budget Takes Shape

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Week 3: Governmental Affairs Moves & State Budget Takes Shape

 

The Florida Legislature’s 2018 Session began on Tuesday, January 9, marking the beginning of 60 days in which lawmakers will consider policies impacting the future of the state and the CPA profession. There have been 4,062 pieces of legislation filed, and our team here in Tallahassee are monitoring many of those on behalf of our members.

Every year, the Governmental Affairs team works diligently with the FICPA leadership to identify policy positions that we will fight for during Session. We continuously review and monitor these positions and update them to address any developments in the Legislature. These policies – the work product of issue experts serving on the FICPA Committee on State Legislative Policy – are available for all members to review.

During the next several weeks, we’ll keep you updated on these critical issues via IMPACT Report.

As always, thank you for continuing to support the FICPA and our efforts.

Sincerely

Justin Thames
Director of Governmental Affairs

CS/HB 1019

Financial ReportingRepresentative Mike La Rosa

Financial Reporting
by Representative Mike La Rosa

Summary: Requires counties, municipalities, special districts, water management districts, & district school boards to submit certain budget & financial information to specified entities; requires certain budget information to remain posted on such entity’s official website for specified period of time; revises reporting deadlines, with exception; provides penalties; requires Office of Economic & Demographic Research to develop forms for reporting certain budget information.

Status: Passed House Local, Federal and Veterans Affairs Subcommittee and House Appropriations Committee. Will be considered by the House Governmental Accountability Committee next.

CS/SB 826

Taxpayers’ Rights AdvocateSenator Dorothy Hukill

Taxpayers’ Rights Advocate
by Senator Dorothy Hukill

Referred to Ways and Means Committee; Appropriations Committee

Summary: Provides for the appointment of the taxpayers’ rights advocate within the Department of Revenue by the Chief Inspector General rather than by the department’s executive director; revises the supervisory authority over the taxpayers’ rights advocate; provides that the taxpayers’ rights advocate may be removed from office only by the Chief Inspector General, etc.

Effective Date: 7/1/2018

Status- 02/08/2018: Passed Governmental Oversight and Accountability Committee. Passed Senate Appropriations Subcommittee on Finance and Tax and will be considered by the Senate Rules Committee next.

HB 1041

Professional RegulationRepresentative Scott Plakon

Professional Regulation
by Representative Scott Plakon

Referred to Careers and Competition Subcommittee; Appropriations Committee; Commerce Committee

Summary: Authorizes person to seek declaratory statement from agency as to effect of person’s criminal background on his or her eligibility for certain licenses, registrations, or certificates; requires board to use specified process for review of applicant’s criminal record to determine eligibility for certain licenses; prohibits conviction of crime before specified date from being grounds for denial of certain licenses.

Effective Date: 7/1/2018

Status- 02/08/2018: Filed. Referred to Careers and Competition Subcommittee; Appropriations Committee; Commerce Committee. Voted favorably by the House Careers and Competition Subcommittee and now to be considered by the House Appropriations Committee.

HB 29

Military and Veterans AffairsRepresentative Mel Ponder

Military and Veterans Affairs
by Representative Mel Ponder

Summary: Revises licensure eligibility requirements, waiver of certain licensure fees, and pre-licensure course requirements for certain military members, their spouses and veterans; designates “Medal of Honor Day”; establishes educational leadership certification requirements for certain individuals.

Effective Date: 7/1/2018

Status- 02/08/2018: Filed. Referred to Commerce Committee; Local, Federal and Veterans Affairs Subcommittee; Appropriations Committee. Voted favorably by all committees and will now be considered by the full body of the House of Representatives.

HB 939

Tax on Sales, Use, and Other TransactionsRepresentative Jackie Toledo

Tax on Sales, Use, and Other Transactions
by Representative Jackie Toledo

Referred to Ways and Means Committee; Appropriations Committee

Summary: Reduces tax levied on rental or license fees charged for use of real property.

Status: Filed

HJR 7001

Supermajority Vote for State Taxes or FeesWays and Means Committee

House Joint Resolution 7001
by Ways and Means Committee

Referred to Appropriations Committee

Summary: Proposes amendment to State Constitution to prohibit a state tax or fee from being imposed or raised except through legislation approved by two-thirds of each house of legislature; requires a state tax or fee imposed or raised to be contained in separate bill that contains no other subject.

Updated Status – 02/08/2018: Passed the House of Representative. Senate companion bill, Senate Joint Resolution 1742, to be considered by the Senate Appropriations Committee.

SB 502

Corporate Income TaxSenator Kelli Stargel

Corporate Income Tax
by Senator Kelli Stargel

Referred to Appropriations Subcommittee on Finance and Tax; Appropriations

Summary: Adopts the 2018 version of the Internal Revenue Code; providing retroactive operation, etc.

Effective Date: Upon becoming a law and operate retroactively to January 1, 2018

Status: Referred to committee. Waiting to be placed on Senate Appropriations Subcommittee on Finance and Tax agenda.

SB 88

High School Graduation RequirementsSenator Dorothy Hukill

High School Graduation Requirements
by Senator Dorothy Hukill

Referred to Appropriations Subcommittee on Finance and Tax; Appropriations

Summary: Revises the requirements for the Next Generation Sunshine State Standards to include financial literacy; revises the required credits for a standard high school diploma to include one-half credit of instruction in personal financial literacy and money management and seven and one-half, rather than eight, credits in electives, etc.

Effective Date: 7/1/2018

Status- 02/02/2018: Passed all committees of reference and the full Senate. Now being considered by the House of Representatives. House companion bill, House Bill 323, has been voted favorably by the PreK-12 Quality Subcommittee and will now be considered by the House Education Committee.

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