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CS/HB 609 (Botana) relating to Local Business Tax (LBT) revenues will be considered by the House State Affairs Committee on Wednesday, February 14, at 9:00 a.m.
CS/HB 609 seeks to cap the rates and revenue of local governments generated by LBT. These revenues play a vital role in funding essential services for businesses, including public safety, zoning, permitting and code enforcement. Additionally, these revenues contribute to economic development programs that directly benefit businesses.
Changing LBT rates are already limited in statute. Capping LBT revenue does not contemplate business growth and would be difficult to administer. LBT is just one of the four general revenue sources the Legislature has authorized municipalities to impose.
The League is OPPOSED to CS/HB 609. Cities face legislation every year requiring them to do more or respond faster. Limiting LBT revenue will continue to chip away at cities' ability to raise adequate revenue to meet these needs.
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