A Message from Erin Ballas, FSAE Government Affairs Committee Chair

The House has released their tax package that contains some significate changes to Tourism Development Taxes. 

The bill provides that ordinances that levy and impose a TDT expire six years after the date the ordinance is approved in a referendum, but may be may renewed for a subsequent period of up to six years if approved in a referendum. Further, any TDT in effect on June 30, 2024, must be renewed by an ordinance approved in a referendum on or before July 1, 2029, to remain in effect. In order to avoid impairment of existing local debt obligations, the bill provides exceptions for current levies if such levies have been pledged for debt service.

Additionally, The bill provides for a county that has been designated as an area of critical state concern that levies a tourist development tax and a tourist impact tax to use its accumulated surplus from those taxes collected through September 30, 2024, for the purpose of providing affordable housing for employees of tourism-related businesses in the county. Any housing financed with funds from this surplus must be used as affordable housing for a minimum of 99 years.

Please review the copy of the bill. 

This bill will be a part of the House and Senates conference committee, meaning there will be continued discussion of the issue. 

Additionally, the House Ways and Means Committee is planning on having one more meeting next week to discuss TDT as a workshop on the issue. I will share with you once the calendar is released.