Legislation Will Create Jobs and Reduce Cost of Living for Floridians
Today, Governor Rick Scott signed his Job Creation and Economic Growth Agenda into law. With the Governor’s initiatives becoming law, Florida’s economy will be better positioned to grow, create jobs and get Floridians back to work. By eliminating burdensome rules and regulations, reforming our unemployment system to a reemployment system, providing tax relief to our job creators and holding the workforce boards tasked with connecting Floridians to job opportunities, Florida will continue to see its unemployment rate drop, businesses will grow and Florida will become the best state in the country to open, expand or move a business.
“The passage of these important bills is a tremendous victory for Florida’s families and businesses and will ensure private-sector jobs can continue to grow,” said Governor Rick Scott. “My jobs package, combined with an additional $1 billion for K-12 education, will have an important impact on all Floridians, and I thank the Florida Legislature for recognizing the valuable contributions this legislation will make toward growing businesses and jobs in our state.”
Legislation Signed by Governor Scott
HB 7023: Regional Workforce Boards
- Legislation restores accountability and credibility to Florida’s workforce boards.
- In response to irresponsible spending of taxpayer dollars that should have been dedicated to getting people back to work, this legislation provides Governor Scott with the ability to hold local workforce boards accountable.
HB 7027: Unemployment Compensation
- Legislation reforms Florida’s unemployment system to create a reemployment system and makes Florida the first state in the country to change from an unemployment compensation system to a re-employment assistance program.
- Focuses on providing free job skills training to Florida’s out-of-work citizens that need it the most and builds on the skills assessments Governor Scott began implementing last year to ensure all Floridians who want a job, can get a job.
- Provides unemployment compensation tax relief to Florida businesses.
HB 7029: Nullification and Repeal of Administrative Rules
- Legislation eliminates hundreds of burdensome state rules and regulations, expediting the rule review and elimination process Governor Scott started on his first day in office.
HB 7087: Economic Development
- Legislation provides tax relief and reform for Florida’s working families and businesses.
- Delivers the two tax cuts Governor Scott set out to pass:
- The corporate income tax exemption is doubled to $50,000, eliminating 25% of remaining payers and representing a 66% reduction in total payers since Governor Scott began eliminating the tax.
- Florida manufacturers will now be able to more easily qualify for a sales tax exemption on machinery and equipment by lowering the required increase in output from 10% to 5% – making it easier for manufacturers to grow in Florida.
- A small business tax relief amendment will also be placed on the November ballot, which will allow Floridians to eliminate the burden small business have in filing or paying tangible personal property taxes if they have less than $50,000 in tangible personal property. The passage of the amendment will eliminate the tax and administrative burden for roughly half of Florida’s small businesses.
To learn more about Governor Scott’s 2012 Job Creation and Economic Growth Agenda, visit: http://bit.ly/GCZuMR