DeSantis Signs $1.2B Tax Relief Package To Help FL Families Save Money

FLORIDA — Florida families will soon be able to keep a little more cash in their wallets following Gov. Ron DeSantis' signature of a bill that creates ten tax-free holidays on essential items.

According to the governor's office, House Bill 7071 provides more than $1.2 billion of tax relief for Floridians on a variety of items commonly purchased by Florida families like fuel, diapers, disaster supplies and tools.

“Florida’s economy has consistently outpaced the nation, but we are still fighting against inflationary policies imposed on us by the Biden administration,” DeSantis said in a statement.

“In Florida, we are going to support our residents and help them afford the goods that they need. Florida has been fiscally responsible, so we are in a good position to provide meaningful relief for families, right now," he continued.

According to DeSantis, this is the largest tax relief package in Florida's history.

The 10 tax-free holidays are:

• A one-month Fuel Tax Holiday from Oct. 1, through Oct.31, 2022, saving Floridians $200 million by lowering the price of gas by 25.3 cents per gallon.
• A 3-month sales tax holiday for children’s books from May 14 through Aug. 14, 2022, providing $3.3 million in tax relief.
• A one-year sales tax holiday from July 1, 2022, through June 30, 2023, for baby and toddler clothes and shoes, providing $81.5 million in tax relief.
• A one-year sales tax holiday from July 1, 2022, through June 30, 2023, for children’s diapers, providing $38.9 million in tax relief.
• A 14-day Back-to-School sales tax holiday from July 25 through Aug. 7, 2022, for clothing, shoes, backpacks, and school supplies, providing $100 million in tax relief.
• A 14-day Disaster Preparedness sales tax holiday from May 28 through June 10, 2022, for supplies such as flashlights, radios, tarps, batteries, and fire extinguishers, providing $25.6 million in tax relief.
• A 7-day Tool-Time sales tax holiday from Sept. 3 through Sept. 9, 2022, for tools and other home improvement items, providing $12.4 million in tax relief.
• A two-year sales tax holiday from July 1, 2022, through June 30, 2024, for impact-resistant windows, doors, and garage doors, providing $442.8 million in tax relief.
• A 7-day Freedom Week from July 1 to July 7, 2022, providing a sales tax exemption for specified admissions and items related to recreational activities, providing $70.6 million in tax relief.
• A one-year Energy Star Appliances sales tax holiday from July 1, 2022, through June 30, 2023, for washing machines, clothes dryers, water heaters, and refrigerators, providing $78.5 million in tax relief.

In addition, permanent tax relief provided in the legislation consists of various sales tax exemptions, corporate income tax credit expansions, and ad valorem tax and exemption provisions that will generate an additional $190 million in tax savings over two years and $140 million annually after that, according to DeSantis' office.

A one-pager on House Bill 7071 can be found here.