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PROFESSIONAL SPORTS FRANCHISE FACILITY TAX Section 125.0104(3)(l), Florida Statutes
Brief Overview In addition to any other tourist development tax imposed, a county may levy up to an additional 1 percent tax on the total consideration charged for transient rental transactions.
The tax shall be levied pursuant to an ordinance adopted by a majority vote of the county's governing body. The proceeds are to pay the debt service on bonds issued to finance professional sports franchise facilities
and convention centers. The provisions in s. 125.0104(4), F.S., regarding the preparation of the county tourist development plan shall not be applicable to this tax. In addition, the prohibition against
any county authorized to levy a convention development tax from levying more than the 2 percent tourist development tax is not applicable to this tax. Local Governments Eligible to Levy
All counties are eligible to levy this tax. Since the tax proceeds may only be used to pay the debt service on bonds issued to finance the construction, reconstruction, or renovation of a professional
sports franchise facility or convention center, this condition may limit the number of counties eligible to levy the tax. Twelve counties are levying this tax as of June 1, 1998. Inquiries regarding the
Department's estimation of these proceeds should be addressed to the Office of Research and Analysis at (850) 488-2900 or Suncom 278-2900. For more information GO TO - http//fcn.state.fl.us/acir |
