By Lynn Hatter
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Tallahassee, FL – Governor Rick Scott unveiled his economic priorities to lawmakers Wednesday. Members of the House Economics Affairs Committee got a detailed look at the governor's priorities. Lynn Hatter reports some ideas are new, but most of them build upon the political wins Scott scored last session.
Governor Rick Scott wants a constitutional amendment that would give further tax cuts to businesses. John Costello is with the Governor's Budget Office. He laid out the governor's plan to members of the House Economic Affairs Committee Wednesday.
Sound-"What we propose is a constitutional amendment that would allow any business in the state that pays tangible personal property that owns less than 50-thousand dollars in tangible personal property, would pay no taxes and also not go through the administrative hassle of filing the paperwork."
A tangible personal property tax covers items like equipment, office furniture, tools, vehicles, and supplies held by businesses. Costello says about 300-thousand businesses in Florida pay that tax, and if the constitutional amendment if approved by the legislature and passed by voters, it would cut that number in half.