The Florida Senate Committee on Finance and Tax has unveiled a tax relief package totaling more than $900 million for the upcoming fiscal year, aimed at benefiting families and businesses. Among its provisions, the legislation intends to lower taxes on property insurance and essential items for families and seniors, aiming to keep Florida affordable. Scheduled for discussion during the Senate’s Finance and Tax committee meeting, the bill features multiple sales tax holidays, extended property tax benefits, and restrictions on tourist development plans. It also includes exemptions and credits for residential and flood insurance policies, acknowledging the affordability challenges faced by homeowners. If approved, the bill will take effect on July 1st, 2024.

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