Information on Florida's Budget Process

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Working for Our Community as a Conferee on the Finance & Tax Budget Conference

With less than seven days left of the 2012 Legislative Session, the House and Senate are moving closer to a budget agreement and I hope this information brings clarity to a process that appears to be complex. As a conferee on the Finance & Tax Committee, I have been charged with protecting tax relief measures for Floridians.

My conference issues vary from corporate income tax to economic development issues to back to school shopping. As a conferee, I have been advocating for programs that generate new business, grow existing companies and provide tax relief to families throughout Florida. I believe that the issues and programs under the Finance & Tax Conference must offer tangible relief while also aiding the passage of a balanced budget.

One of the issues that is before my conference is the Sales Tax Holiday. This back to school tax relief is a valuable program in our community. Many of us find ourselves cutting our personal budgets back and this holiday provides direct relief to our community, our students and our teachers. While this is a small issue in the large budget picture, I still believe that it provides much needed finical assistance to our community.

Some of the larger issues deals with tax incentives that support job creation and create statewide economic development programs. As a conferee, I am fighting for the New Markets Development Program, tax relief for our community's agricultural businesses, local enterprise zones and a corporate income tax exemption. I believe that these proposals will push Florida into a brighter economic future. The positive growth that will come from these programs will continue to make our community a great place to call home.

For more information about the legislation and issues before the Finance & Tax Budget Conference, please use the links below:

HB 87 - Tax on Severance and Production of Oil

HB 737 - Sales Tax Holiday

HB 5701 - Corporate Income Tax

HB 5703 - Tax on Communications and Utility Services

HB 7087 - Economic Development

As always, do not hesitate to call me or my office with any questions or concerns you may have about this process.

Your Representative and Neighbor,

Greg Steube

The State of Florida's Budget Process

The first step in the creation of the state budget begins each fall with the development of the Long Range Financial Outlook. The Long Range Financial Outlook is a constitutionally required report that is approved by the Legislative Budget Commission each September. The Outlook provides a three year picture of the state's fiscal position by lining up the estimated budget needs with the estimated revenues.

Shortly after the outlook is produced, the second step begins when Florida's state agencies submit a detailed list of their budget needs. This is called a Legislative Budget Request.

As required by law, the third step happens thirty days prior to the start of the Legislative Session and it takes place when Governor presents his budget recommendations to the Legislature.

The fourth step transpires during the annual 60-day Legislative Session when both the House and Senate work to pass their own appropriations bills within their respective chambers.

Currently we are in the fifth step of the process. The fifth step starts when the Speaker of the House and President of the Senate appoint members of each chamber to participate in a process called the Budget Conference. The conferees are responsible for resolving any differences in the separate House and Senate budgets in order to create a single budget. During conference they must determine not only the items that will receive funding but also how much funding will be allocated for each item.

Finally, following a successful conference, the two bodies produce a single conference report, called the General Appropriations Act. The General Appropriations Act (GAA) is then sent to the Governor who has line item veto authority over items within the document, for passage. This will occur next week and I encourage you to contact my office if you have any questions.

District Office 5800 Lakewood Ranch Boulevard Suite 5830 Sarasota, Florida 34240 (941) 907-2810 Capitol Office 1102 The Capitol 402 South Monroe Street Tallahassee, Florida 32399-1300 (850) 488-6341 greg.steube@myfloridahouse.gov www.facebook/gregsteube