FICPA Government Affairs

Legislative Update: 2025 Legislative Session dates announced

133345 — Fri, 20 Sep 2024 13:23:19 +0000

Legislative Update: 2025 Legislative Session dates announced

133345 Fri, 09/20/2024 - 09:23

September 20, 2024

After a brief hiatus, the FICPA Legislative Update is back, keeping Florida’s CPAs informed on key political news of interest to the profession.

As summer comes to a close, much of the immediate focus is on the upcoming general election. With just under 50 days util Floridians head to the polls, televisions around the state are filled with political ads, as candidates knock doors and attend events, hoping to return to Tallahassee or win election for the first time as a new member.

While election season is at the forefront, governance, planning and legislative matters still garner the significant attention of state leaders. This week features some important decisions and announcements by legislative leadership in preparation for the 2025 Session.

Additionally, the FICPA team hits the road for some key events keeping members informed on everything they need to know about the election and upcoming Session.

Legislative leaders announce key dates

The dates for the 2025 Legislative Session, including interim committee weeks, have officially been announced. This announcement was made by incoming legislative leadership, in advance the pending elections, to allow advocates and key stakeholder to begin planning for their time in Tallahassee.

The Organization Session will take place on Nov. 19, 2024, two weeks after the General Election on Nov. 5. The Organization Session is rightly named, as new legislators will be officially sworn in, officers will be elected, new rules will be adopted by each chamber, and members will be appointed to legislative committees.

Interim Committee Weeks are then held to allow time for committees to meet and begin vetting and exploring key issues and proposed legislative concepts before the legislative session convenes on March 4, 2025.

Below are the key interim committee weeks announced this week.

Nov. 19, 2024	Organization Session
Dec. 2-6, 2024	Committee Week 1 (House only)
Dec. 9-13, 2024	Committee Week 1 (Senate only)
Jan. 13-17, 2025	Committee Week 2
Jan. 21-24, 2025	Committee Week 3
Feb. 3-7, 2025	Committee Week 4
Feb. 10-14, 2025	Committee Week 5
Feb. 17-21, 2025	Committee Week 6
March 4, 2025	Regular Session begins
May 2, 2025	Regular Session ends

FICPA hosts regional events

The Governmental Affairs Team attended a pair of FICPA Days this week in Jacksonville and Miami.

The team hosted an informative CPA/PAC and Advocacy luncheon with presentations on polling data around the state from Ray Walker, Vice President of Government Affairs with the University of North Florida, in Jacksonville and Alex Coelho, Senior Data Analyst with the Florida Chamber Political Institute, in Miami. These presentations provided FICPA members and CPA/PAC supporters with an “inside scoop” into key races and issues around the state.

President & CEO Shelly Weir and Chief External Affairs Officer Jason Harrell also hosted a pair of Legislative Town Halls, offering updates on the profession, an overview of the 2024 Legislative Session and what's coming next in Tallahassee.

Our third and final FICPA Day takes place in Tampa on Sept. 24, and we look forward to seeing you there!

Condominium’s legislative and regulatory environment

On Sept. 9 and 19, Gov. Ron DeSantis hosted a pair of roundtables in Miami Lakes and Pinellas Park to hear from condo owners, legislators, association leaders and other stakeholders. In the wake of the Surfside tragedy, the Legislature took significant actions aimed at increasing safety requirements and accountability for association directors and boards. These roundtables comes after many concerns that have surfaced for owners, such as increased assessments for repairs and reserves, and impending deadlines.

Over the summer, rumors circulated that Gov. DeSantis would call a Special Session to address these issues. However, there was not legislative consensus, as Senate President Kathleen Passidomo publicly stated that she was not interested in calling a Special Session at this time.

During the roundtable, the governor strongly encouraged the Legislature to take action to help remedy or delay some of the deadlines and costs around the new requirements in the laws before the end of the year. The FICPA Governmental Affairs team does anticipate that a piece of legislation will surface from these conversations.

The FICPA Governmental Affairs team is keeping its Common Interest Realty Association (CIRA) Committee informed and engaged, as they serve as subject matter experts and provide information to the Legislature and state leaders when needed. The FICPA Governmental Affairs team will continue to update the members at the appropriate time.

Board of Accountancy meets in Orlando

The Florida Board of Accountancy (BOA) met on Sept. 13 in Orlando. FICPA President & CEO Shelly Weir and CEAO Jason Harrell attended the meeting to represent the profession. With so many significant issues and changes to the regulatory structures for the profession around the nation, the FICPA remains committed to working in close partnership with the BOA on behalf of Florida CPAs.

During the meeting, Weir was able to provide the BOA with an update on several important regulatory changes being proposed at the national level, and Jason provided a legislative update. The FICPA greatly appreciates its strong working relationship with the BOA and its staff.

The next BOA meeting will be held Oct. 25, also in Orlando.

Looking ahead: Fun facts

There are only 46 days until the 2024 general election.
The FICPA Governmental Affairs team will host a 2024 Election Town Hall on Nov. 12, 2024, from 10-11 a.m., with one hour of free CPE available.
Since the end of the 2024 Session on March 8, the FICPA team has sent nine Legislative Update emails to members and provided 12 legislative and advocacy town hall presentations and updates around the state at chapter meetings, conferences, and other events.

Topics

FICPA Government Affairs

Legislative Update

Legislative Update: Gov. DeSantis concludes actions on 2024 legislation

133345 — Fri, 12 Jul 2024 12:02:53 +0000

Legislative Update: Gov. DeSantis concludes actions on 2024 legislation

By FICPA Staff

133345 Fri, 07/12/2024 - 08:02

July 12, 2024

Programming Note: Election season is in full swing, and the FICPA Governmental Affairs Team is counting down the weeks to the Florida Primary Election on Aug. 20. Many races will be decided in the primary while others will continue to the general election where candidates will be on the ballot alongside state constitutional amendments and a presidential election.

If you are interested in hearing more about the election season, consider joining our next Capitol Connection: Election Edition Livestream at 10 a.m. on Friday, July 19. Chief External Affairs Officer Jason Harrell and Deputy Director of Governmental Affairs Lauren Henderson will bring you everything you need to know about the 2024 Florida Elections in 30 minutes or less.

We request that the link not be shared outside the FICPA, as the information on the call is sensitive, timely and privileged.

Gov. DeSantis concludes actions on legislation from 2024 Session

All bills passed by the Legislature during the 2024 Session have now been acted on by Gov. Ron DeSantis. Although Session ended more than four months ago, it took until the last week of June for all legislation to make its way to the governor’s desk and for him to make final decisions on the fate of those bills. This officially signals the end of the legislative cycle, with all eyes now on the 2024 elections.

Like previous years, most bills passed by the Legislature were bipartisan and approved overwhelmingly or unanimously. Likewise, the governor approved most bills without much fanfare or opposition. That said, as is the case each year, several bills did not meet the governor’s approval; those legislators and advocates must go back to the drawing board next session to try again. Several others, although highly contested, were ultimately approved by the governor.

Included in these final pieces of legislation was SB 1600: Interstate Mobility, which has been signed into law. The bill provides a new process and criteria for licensure by endorsement for those professions that do not already have it in statute. It also provides new license mobility provisions for certain health care practitioners. Thanks to the hard work of our CPA legislators, the CPA profession maintains its normal regulatory structure.

With the governor now finished signing legislation, state agencies will continue to develop the rulemaking for bills. The FICPA will monitor the rulemaking process and will keep you updated as the 2024 legislation is implemented.

In total this year, 325 bills passed both chambers of the Legislature. From those, the governor approved 299, including the annual tax package, and vetoed 14, with the remaining 12 being filed with the secretary of state.

State Legislative Policy Committee meets in Fort Lauderdale

Last Monday, the Governmental Affairs Team traveled to Fort Lauderdale for a meeting of the State Legislative Policy Committee. The committee is charged with developing the state legislative and regulatory policies for the FICPA each year. These policies guide the FICPA's position on various issues. The committee discussed pending issues facing the profession and workshopped ideas to move forward into the next Legislative Session. The FICPA would like to extend thanks to Berkowitz Pollack Brant Advisors for hosting the meeting and to all the volunteer leaders who give insight and support to our advocacy team.

Strum receives Legislative and Advocacy Resource Award

During the State Legislative Policy Committee meeting, the Governmental Affairs Team presented committee chair Guy Strum with the inaugural FICPA Legislative and Advocacy Resource Award. This inaugural award recognizes Chair Strum’s professional knowledge and dedication to the profession. A true advocacy program thrives on the support of its members. Strum, a partner with Gladstone Strum & Company, also chairs the legislative subcommittee of the FICPA's Common Interest Realty Committee and serves as a member of the FICPA Council. Thank you, Guy, for your involvement and professional insight.

Board of Accountancy meets in Orlando

On Thursday, July 11, the Board of Accountancy held a workshop in Orlando. The Board periodically holds a workshop the day before a formal meeting to allow additional time for the members to vet and discuss topics and policies that may be considered at a future meeting. President & CEO Shelly Weir and Chief External Affairs Officer Jason Harrell were joined by outside consultant Jennifer Green of Liberty Partners of Tallahassee to represent the FICPA and present important topics to the Board. During the workshop, Weir gave a presentation to the Board on mobility, emerging issues, and national discussions around the license.

On Friday, July 12, the Board of Accountancy hosted its regular meeting. The FICPA team was once again in attendance, as matters relating to licensure were on the agenda.

The FICPA continues to collaborate with the Board of Accountancy to ensure responsible licensure standards and mobility within the profession. We will continue to keep our membership informed as the Board makes additional decisions around licensure.

AICPA & CPA/SEA Interchange Conference

This week, Deputy Director of Governmental Affairs Lauren Henderson attended the Interchange conference along with other members of the FICPA team. Henderson attended workshops where she collaborated with other state society leaders on issues around licensure and mobility. She gained insight into emerging issues and ideas spreading across the nation. The FICPA Governmental Affairs Team is staying engaged on national issues impacting the profession.

Key Person Contact Program: Calling all CPAs!

The next several months will be critical to our success in the upcoming elections and the 2025 Legislative Session.

All politics is local, and the Governmental Affairs team needs CPAs who have relationships with legislators to help give that local, grassroots flavor to our advocacy program. Lobbyists are good at what they do, but no one tells your story as good as you. Our having a local contact can be the difference between success and failure in the legislative process.

If you know or have a relationship with a member of the Florida Legislature or Cabinet, please consider joining our Key Person Contact Program. Simply fill out this form and a member of the team will contact you.

Topics

FICPA Government Affairs

Legislative Update

Legislative Update: MEGA momentum, making moves

133345 — Thu, 27 Jun 2024 14:39:41 +0000

Legislative Update: MEGA momentum, making moves

FICPA Governmental Affairs Team

133345 Thu, 06/27/2024 - 10:39

June 27, 2024

The FICPA Governmental Affairs Team is happy to welcome you back to the Legislative Update. After a short hiatus, the team returns to our regular biweekly update. We would like to say thank you to all of those who joined us at Sapphire Falls Resort for MEGA 2024. It was fantastic to see all our members face to face. Since MEGA, the team has continued its work closing out the final bills and action items from the 2024 Session, and we now turn our focus to bill implementation and political work necessary for the 2024 elections.

Our MEGA Guest List

During MEGA, the Governmental Affairs team was happy to host several important legislative guests and provide key legislative updates to FICPA membership.

On Tuesday, June 11, we presented our FICPA Legislative Champion Award to Sen. Joe Gruters, CPA, for his constant support of the profession. Sen. Gruters played a leading role during this spring's Legislative Session, securing retired status and protecting CPAs from legislation that would have negatively impacted the profession.

Thank you, Sen. Gruters, for your continued leadership and for making sure #CPAsCount in Tallahassee.

Earlier that morning, FICPA Chief External Affairs Officer Jason Harrell was joined by Liberty Partners of Tallahassee CEO Jennifer Green and FICPA State Tax Committee member Kevin Herzberg for a panel discussion. During the panel, the presenters focused on specific, tax-related legislation that passed during the 2024 Legislative Session. They also focused on emerging issues in the tax profession and all aspects of the 2024 state tax package.

On Wednesday morning, Harrell was joined Deputy Director Lauren Henderson for their 2024 Legislative Update. Harrell and Henderson offered insight into their work during the 2024 Session, touching on the demographics of the Florida Legislature, analyzing key legislation impacting the profession and looking ahead to election season.

Thank you to everyone who attended both sessions.

We were then honored to be joined by Florida's Chief Financial Officer, Jimmy Patronis, who served as MEGA's keynote speaker on Thursday morning. Patronis offered his unique insight into Florida’s current regulatory environment, provided an overview of his role in the state as CFO and shared his respect for value the work of Florida's CPAs. We deeply appreciate CFO Patronis’ support of the FICPA and his admiration for the profession.

The FICPA was likewise honored to be joined at MEGA by Sen. Ed Hooper, representing Pasco and Pinellas counties. Sen. Hooper has been a longtime supporter of Florida CPAs, he's a legislator the profession can count on, and we were proud to have him meet with our membership at MEGA.

The entire FICPA team would like to thank Sen. Hooper, Sen. Gruters, CFO Patronis and Florida Department of Business and Professional Regulation Sec. Melanie Griffin for being a part of MEGA 2024. It was an honor to have you all!

2024 Election Update

The state qualifying period for the upcoming 2024 Florida elections concluded at noon on June 14. Post-qualifying, it is now clear who is officially on the ballot for the Primary and General Election. Of interest, eight candidates in Florida - one new Senator and seven incumbents in the House of Representatives - qualified without competition, meaning they have been automatically elected to their seats and will take office at midnight on Election Day. The remaining contested seats will either be decided in the Aug. 20 Primary or the Nov. 5 General Election.

Panama City Chapter Visit

The FICPA Governmental Affairs Team makes it a priority to stay engaged with FICPA members at the local level. Last week, Jason Harrell and Legislative Affairs and Governance Manager Brayden Harrell joined the Panama City Chapter for its Relaunch Social, following Hurricane Michael and the COVID-19 pandemic. Jason Harrell provided a legislative update and discussed issues relevant to the profession. Thank you to FICPA Board member Mindy Rankin for the invitation and helping to coordinate this great event.

Governor’s 2024 Bill Activity

On June 12, 2024, Gov. DeSantis signed HB 5001 – General Appropriation Act, commonly referred to as the state budget, for fiscal year 2024-2025. The state constitution requires the Florida Legislature pass a balanced budget each Session. The governor then has line-item veto authority to review items passed by the legislature before signing into law. As part of his actions in signing the budget, the Gov. DeSantis vetoed $949,611,399 that was originally approved by the legislature. This year’s final GAA totaled $116.5 billion, which includes $17 billion in reserves. The state fiscal year begins July 1.

On June 14, the Governor signed HB 1021 - Community Associations. This bill requires community association managers to keep and maintain accounting records for specified time periods. Records must be kept separate for each condominium the association operates. Any person who intentionally destroys accounting records that were required to be maintained or intentionally fails to maintain accounting records with the intent of causing harm to the association or its members is subject to a civil penalty.

The legislative season is ending, with all bills on the governor’s desk awaiting signature or veto. There are still a few controversial bills awaiting approval or veto. The FICPA team will update you on those actions as warranted.

Topics

FICPA Government Affairs

Legislative Update

IRS grants relief to 13 Florida counties impacted by storms on May 10; deadlines extended to Nov. 1

133345 — Wed, 26 Jun 2024 14:17:20 +0000

IRS grants relief to 13 Florida counties impacted by storms on May 10; deadlines extended to Nov. 1

Internal Revenue Service Release

133345 Wed, 06/26/2024 - 10:17

July 19, 2024

Update, July 17: Relief has been extended to include Columbia County.

Update, June 28: Relief has been extended to include Jefferson and Santa Rosa counties.

WASHINGTON — The Internal Revenue Service announced on Tuesday tax relief for individuals and businesses in Florida that were affected by severe storms, straight-line winds, and tornadoes that began on May 10, 2024. These taxpayers now have until Nov. 1, 2024, to file various federal individual and business tax returns and make tax payments.

Following the disaster declaration issued by the Federal Emergency Management Agency (FEMA), individuals and households that reside or have a business in: Baker, Gadsden, Hamilton, Lafayette, Leon, Liberty, Madison, Suwannee, Taylor, and Wakulla counties qualify for tax relief.

The declaration permits the IRS to postpone certain tax-filing and tax-payment deadlines for taxpayers who reside or have a business in the disaster area. For instance, certain deadlines falling on or after May 10, 2024, and before Nov. 1, 2024, are granted additional time to file through Nov. 1, 2024. As a result, affected individuals and businesses will have until Nov. 1, 2024, to file returns and pay any taxes that were originally due during this period.

The Nov. 1 filing deadline applies to:

Individuals who had a valid extension to file their 2023 return due to run out on Oct. 15, 2024. The IRS noted, however, that because tax payments related to these 2023 returns were due on April 15, 2024, those payments are not eligible for this relief.
Businesses with an original or extended due date including, among others, calendar-year partnerships and S corporations whose 2023 extensions run out on Sept. 16, and calendar-year corporations whose 2023 extensions run out on Oct. 15.

The Nov. 1, 2024, deadline also applies to any payment normally due during this period, including the quarterly estimated tax payments due on June 17, 2024, and Sept. 16, 2024, and the quarterly payroll and excise tax returns normally due on July 31, 2024, and Oct. 31, 2024. In addition, penalties on payroll and excise tax deposits due on or after May 10, 2024, and before May 28, 2024, will be abated as long as the tax deposits were made by May 28, 2024.

In addition, the Nov. 1, 2024, deadline applies to calendar-year tax-exempt organization returns normally due on May 15, 2024.

If an affected taxpayer receives a late filing or late payment penalty notice from the IRS that has an original filing, payment or deposit due date that falls within the postponement period, the taxpayer should call the telephone number on the notice to have the IRS abate the penalty.

The IRS automatically identifies taxpayers located in the covered disaster area and applies filing and payment relief. But affected taxpayers who reside or have a business located outside the covered disaster area should call the IRS disaster hotline at 866-562-5227 to request this tax relief. Disaster area tax preparers with clients located outside the disaster area can choose to use the bulk requests from practitioners for disaster relief option, described on IRS.gov.

Covered disaster area

The localities listed above constitutes a covered disaster area for purposes of Treas. Reg. §301.7508A-1(d)(2) and are entitled to the relief detailed below.

Affected taxpayers

Taxpayers considered to be affected taxpayers eligible for the postponement of time to file returns, pay taxes and perform other time-sensitive acts are those taxpayers listed in Treas. Reg. § 301.7508A-1(d)(1), and include individuals who live, and businesses (including tax-exempt organizations) whose principal place of business is located, in the covered disaster area. Taxpayers not in the covered disaster area, but whose records necessary to meet a deadline listed in Treas. Reg. § 301.7508A-1(c) are in the covered disaster area, are also entitled to relief. In addition, all relief workers affiliated with a recognized government or philanthropic organization assisting in the relief activities in the covered disaster area and any individual visiting the covered disaster area who was killed or injured as a result of the disaster are entitled to relief.

Under section 7508A, the IRS gives affected taxpayers until Nov. 1, 2024, to file most tax returns (including individual, corporate, and estate and trust income tax returns; partnership returns, S corporation returns, and trust returns; estate, gift, and generation-skipping transfer tax returns; annual information returns of tax-exempt organizations; and employment and certain excise tax returns), that have either an original or extended due date occurring on or after May 10, 2024, and before Nov. 1, 2024, are granted additional time to file through Nov. 1, 2024.

Affected taxpayers that have an estimated income tax payment originally due on or after May 10, 2024, are postponed through Nov. 1, 2024, will not be subject to penalties for failure to pay estimated tax installments as long as such payments are paid on or before Nov. 1, 2024.

The IRS also gives affected taxpayers until Nov. 1, 2024, to perform other time-sensitive actions described in Treas. Reg. § 301.7508A-1(c)(1) and Rev. Proc. 2018-58, 2018-50 IRB 990 (December 10, 2018), that are due to be performed on or after May 10, 2024, and before Nov. 1, 2024, are granted additional time to file through Nov. 1, 2024.

This relief also includes the filing of Form 5500 series returns that were required to be filed on or after May 10, 2024, and before Nov. 1, 2024, are postponed through Nov. 1, 2024, in the manner described in section 8 of Rev. Proc. 2018-58. The relief described in section 17 of Rev. Proc. 2018-58, pertaining to like-kind exchanges of property, also applies to certain taxpayers who are not otherwise affected taxpayers and may include acts required to be performed before or after the period above.

Unless an act is specifically listed in Rev. Proc. 2018-58, the postponement of time to file and pay does not apply to information returns in the W-2, 1094, 1095, 1097, 1098 or 1099 series; to Forms 1042-S, 3921, 3922 or 8027; or to employment and excise tax deposits. However, penalties on deposits due on or after May 10, 2024, and before May 28, 2024, will be abated as long as the tax deposits were made by May 28, 2024.

Casualty losses

Affected taxpayers in a federally declared disaster area have the option of claiming disaster-related casualty losses on their federal income tax return for either the year in which the event occurred, or the prior year. In this instance, the 2024 return normally filed next year), or the return for the prior year (the 2023 return filed this year). Taxpayers have extra time – up to six months after the due date of the taxpayer’s federal income tax return for the disaster year (without regard to any extension of time to file) – to make the election. See Publication 547 for details. Individuals may deduct personal property losses that are not covered by insurance or other reimbursements. For details, see Form 4684, Casualties and Thefts and its instructions. Affected taxpayers claiming the disaster loss on their return should put FEMA disaster declaration number, 4794-DR on any return. See Publication 547 for details.

Other relief

The IRS will waive the usual fees and requests for copies of previously filed tax returns for affected taxpayers. Taxpayers should put the assigned FEMA declaration number (4794-DR), in bold letters at the top of Form 4506, Request for Copy of Tax ReturnPDF, or Form 4506-T, Request for Transcript of Tax ReturnPDF, as appropriate, and submit it to the IRS.

Qualified disaster relief payments are generally excluded from gross income. This means that affected taxpayers can exclude from their gross income amounts received from a government agency for reasonable and necessary personal, family, living or funeral expenses, as well as for the repair or rehabilitation of their home, or for the repair or replacement of its contents. See Publication 525 for details.

Additional relief may be available to affected taxpayers who participate in a retirement plan or individual retirement arrangement (IRA). For example, a taxpayer may be eligible to take a special disaster distribution that would not be subject to the additional 10% early distribution tax and allows the taxpayer to spread the income over three years. Taxpayers may also be eligible to make a hardship withdrawal. Each plan or IRA has specific rules and guidance for their participants to follow.

The IRS may provide additional disaster relief in the future.

Affected taxpayers who are contacted by the IRS on a collection or examination matter should explain how the disaster impacts them so that the IRS can provide appropriate consideration to their case. Taxpayers may download forms and publications from the official IRS website, IRS.gov.

Reminder about tax return preparation options

Eligible individuals or families can get free help preparing their tax return at Volunteer Income Tax Assistance (VITA) or Tax Counseling for the Elderly (TCE) sites. To find the closest free tax help site, use the VITA Locator Tool or call 800-906-9887. Note that normally, VITA sites cannot help claim disaster losses.
To find an AARP Tax-Aide site, use the AARP Site Locator Tool or call 888-227-7669.
Any individual or family whose adjusted gross income (AGI) was $79,000 or less in 2023 can use IRS Free File’s guided tax software at no cost. There are products in English and Spanish.
Another Free File option is Free File Fillable Forms. These are electronic federal tax forms, equivalent to a paper 1040 and are designed for taxpayers who are comfortable filling out IRS tax forms. Anyone, regardless of income, can use this option.
MilTax, a Department of Defense program, offers free return preparation software and electronic filing for federal tax returns and up to three state income tax returns. It’s available for all military members and some veterans, with no income limit.

Topics

Advocacy Alert

Internal Revenue Service

FICPA Government Affairs

Advocacy Alert: Gov. Ron DeSantis signs state budget

133345 — Wed, 12 Jun 2024 19:37:11 +0000

Advocacy Alert: Gov. Ron DeSantis signs state budget

By FICPA Staff

133345 Wed, 06/12/2024 - 15:37

June 12, 2024

Florida Gov. Ron DeSantis on Wednesday signed HB 5001 – General Appropriation Act, commonly referred to as the state budget, for fiscal year 2024-25.

The state constitution requires the Florida Legislature pass a balanced budget each Legislative Session. The governor then has line-item veto authority to review items passed by the Legislature before signing the budget into law.

On Wednesday, as part of his actions in signing the budget, Gov. DeSantis vetoed $949,611,399 that was originally approved by the Legislature. This year’s final GAA totaled $116.5 billion, which includes $17 billion in reserves. The state fiscal year begins July 1.

You can access the governor's veto list here.

Of interest to the CPA profession, $200,000 has once again been approved for the Clay Ford Scholarship Program, which awards financial aid to fifth-year students pursuing their CPA license. Separately, $100,000 has likewise been allocated to the Department of Business and Professional Development to combat unlicensed activity, helping to protect the reputation of the profession.

The signing of the state budget is notable, as the governor is winding down his review of the bills passed by the Legislature during the 2024 Session. We will continue to keep you updated on the implementation of legislation important to you and the CPA profession.

Topics

Advocacy Alert

FICPA Government Affairs

Legislative Update: Retired CPA Status moves into rulemaking

133345 — Fri, 31 May 2024 13:26:01 +0000

Legislative Update: Retired CPA Status moves into rulemaking

FICPA Governmental Affairs Team

133345 Fri, 05/31/2024 - 09:26

May 31, 2024

As Florida temperatures heat up, so does the work of the FICPA Governmental Affairs Team!

We are pleased to report that the Florida Board of Accountancy (BOA) this week officially began the rulemaking process for the FICPA’s priority bill, HB 813 by Rep. Mike Caruso, creating a retired CPA status in statue.

The GA team remains on the road interviewing political candidates, educating prospective leaders on issues affecting the profession and telling the story of the 2024 Legislative Session at various events.

It’s going to be a long, sweltering summer, but the FICPA Government Affairs Team will continue to advocate on behalf of the profession and keep you up to date with the latest news from Tallahassee and across the state.

Board of Accountancy Holds Agency Rulemaking Meeting for Retired Status

On May 29, the BOA held a special meeting to discuss proposed agency rulemaking regarding the new Retired CPA Status.

The FICPA Government Affairs Team collaborated with the BOA and its staff to provide input and ensure clarification on the legislative intent of several key provisions of importance to FICPA membership.

During the meeting, draft rules and forms were reviewed by the BOA and approved to move forward to the next phase in the formal rulemaking process. The next step is for the rules approved by the BOA to go through the Joint Administrative Procedures Committee (JAPC) review. The JAPC conducts continuous oversight of executive branch actions, implementing legislatively delegated powers and ensuring that each action has an adequate statutory basis and all applicable procedures are followed.

As a reminder, the bill’s effective date is July 1, 2024, and the FICPA will continue to provide updates on its implementation.

Beyond Tallahassee

Last week, FICPA Chief External Affairs Officer Jason Harrell attended the AICPA Spring Council Meeting along with the Florida Delegation and members of the FICPA team. Jason heard from and collaborated with other state societies on national issues affecting the profession – specifically, licensure and mobility.

At the Council Meeting, AICPA President & CEO Barry Melancon announced he would be stepping down after 30 years of service to the profession. The appointment for Melancon’s successor is expected to be made before the end of the year.

2024 Election Prep 

The FICPA Government Affairs team is also busy bringing you the most up-to-date information on the campaign trail. Deputy Director Lauren Henderson continues to travel around the state to meet and interact with potential candidates for the 2024 elections. Last week, Henderson attended a candidate forum hosted by the Florida Association of Professional Lobbyists in Tampa. Henderson heard from potential candidates on what is driving them to run to serve for either the Florida House or Florida Senate. She also had the opportunity to gauge candidate support of pro-CPA legislation and policy.

Over the next few weeks, the FICPA Governmental Affairs Team will continue to travel the state providing legislative updates and strengthening political activities. If you are interested in a visit from the Governmental Affairs Team or have any questions, please contact [email protected]" rel="noreferrer noopener" target="_blank">[email protected].

Governor’s 2024 Bill Activity    

Since the conclusion of the 2024 Legislative Session in March, Gov. Ron DeSantis continues his review of the 325 bills that passed the Legislature. Generally, the governor has 15 days to act on a bill once it is formally presented to him. So far, approximately 61% of bills have been presented and approved by Gov. DeSantis.

There are roughly 70 more bills that have not been placed on his desk for final consideration. Many of these bills are more controversial in nature, and the Governor and his staff must take more time to review and hear from all sides of a potential issue before acting.

However, FICPA anticipates that remaining bills will move quickly over the next few weeks to make sure they are finalized one way or another before the end of the state fiscal year on June 30. Of note, the state budget has not yet been presented, which must be completed before the state fiscal year begins on July 1.

Another key bill of interest, SB 1600 – Interstate Mobility by Sen. Collins, which FICPA did significant work on during Session, is also still awaiting its turn.

Regarding HOAs, this week Gov. DeSantis signed HB 293: Hurricane Protections for Homeowners' Associations by Rep. Sirois. The bill requires the board or council of a homeowners’ association to adopt hurricane-protection specifications.

Gov. DeSantis also signed HB 1093: Florida Uniform Fiduciary Income and Principal Act by Rep. Caruso. The bill redefines statutory terms including beneficiaries, fiduciaries, “terms of the trust” and special tax benefits. The bill limits the lookback period for trust administration from an unlimited duration down to three accounting periods. The bill also requires a fiduciary to add undistributed income to the principal within a specified time; it adds an express requirement that a fiduciary act in good faith; and it makes the factors currently set out for a trustee to exercise adjustment powers applicable to all fiduciary decisions under the Florida Uniform Fiduciary Income and Principal Act.

Thus far, for the week ending on May 31, Gov. DeSantis has been presented with just one bill this week. Overall, he has approved 207 and vetoed two. Nine bills remain on his desk and 77 are awaiting presentation.   

Looking Ahead

The governor generally has until July 1 to sign the budget and any pending bills. Over the next month, the FICPA will keep you updated on his actions. Regardless of the governor’s actions in the coming weeks, the CPA profession is in a strong place moving into the next fiscal year.

Due to next month’s FICPA MEGA Conference, starting June 10, there will not be a Legislative Update on June 14. However, if there is any breaking news you need to know during that time, we will provide an Advocacy Alert. The Government Affairs Team will also be on hand to provide several legislative updates at MEGA. See you all there!

Topics

FICPA Government Affairs

Legislative Update

Legislative Update: Pushing through the storm, legislative activities continue

133345 — Fri, 17 May 2024 12:09:05 +0000

Legislative Update: Pushing through the storm, legislative activities continue

FICPA Governmental Affairs Team

133345 Fri, 05/17/2024 - 08:09

May 17, 2024

Just over two months since the end of the 2024 Legislative Session, progress continues to be made on the 325 bills passed by the Florida Legislature. However, some legislative activities took a bit of a back seat this week, as strong storms and several tornadoes did significant damage to Tallahassee and the surrounding areas, shifting the focus to storm recovery.

For the FICPA Governmental Affairs team, the work continues. We are focused on telling the story of the 2024 Session to our members, working diligently with state agencies on implementing bills that have been signed, and shifting attention to the political and grassroots work that must be done ahead of the 2024 election cycle.

Last week FICPA Chief External Affairs Officer (CEAO) Jason Harrell joined President & CEO Shelly Weir in Orlando for the UCF Accounting Conference. This event was another great opportunity to interact with members and provide important updates on the profession and FICPA’s advocacy program. During the conference, Weir presented statewide and national updates regarding the state of the profession. Shortly after, Harrell provided a summary of the past Legislative Session, highlighting the important victories secured for the CPA profession. The FICPA would like to thank the UCF Accounting Department for their invitation and hospitality.

On the political front, Harrell and Deputy Director Lauren Henderson continue to travel around the state to meet with potential candidates for the 2024 elections. This week, the team joined the Florida Chamber in Jacksonville for the continuation of the 2024 Florida Chamber Political Institute Candidate Interviews. These forums provide an opportunity to meet and ask questions of candidates. Over the two-day conference, Harrell and Henderson listened to more than 10 potential candidates on what is driving them to run for either the Florida House or Florida Senate. These activities by the FICPA team are critical to having a successful political and grassroots program.

Over the next few weeks, FICPA’s Governmental Affairs team will continue to travel the state, providing legislative updates and strengthening political activities. If you are interested in a visit from FICPA’s Governmental Affairs team or have any questions, please contact [email protected]" rel="noreferrer noopener" target="_blank">[email protected].

Governor’s 2024 bill activity    

Since the conclusion of the 2024 Legislative Session in March, Gov. DeSantis continues his review of the 325 bills that passed the Legislature. Generally, the governor has 15 days to act on a bill once it is formally presented to him. The governor’s staff is very diligent in reviewing each bill and coordinates with the presiding officers as to when bills are sent for the governor’s final consideration. This process does take time but is typically completed before July 1. So far, approximately 60.9 percent of bills have been presented and approved by the governor. Of note, the state budget has not yet been presented, which must be completed before the state fiscal year begins. Another key bill of interest, SB 1600 – Interstate Mobility by Sen. Collins, which the FICPA did significant work on during session, is also still awaiting its turn.

As of May 17, the governor has been presented with one bill this week. Overall, he has approved 198 and vetoed two. Nine bills remain on his desk and 104 are awaiting presentation.   

Of Interest to the profession

Of potential interest to all members, House Bill 1335 - Department of Business and Professional Regulation by Rep. Maggard was also signed by Gov. DeSantis. This bill was included in the DBPR agency legislative package and requires CPAs, and other professions and trades regulated by the DBPR, to have and maintain an online account with the Department to ensure all communication information is up to date for licensees. For members who may be interested in more details, please see the final bill analysis found here.

Another bill of interest, Senate Bill 382 - Continuing Education Requirements by Sen. Hooper was also signed by the governor. These bills allow departments and boards to exempt some licensees from continuing-education requirements under certain criteria. FICPA Advocacy in Action: CPA profession is not impacted.  For members who may be interested in more details, please see the final bill analysis found here.

In case you missed it: On Tuesday, May 7, Gov. DeSantis signed HB 7073 – Taxation, the state’s annual tax package. Among other provisions, the bill also contained FICPA-supported automatic tax extension language for when a state of emergency has been declared within five days of a deadline. Read more about the bill here.

With this action, the Governor has now signed both of FICPA’s priorities from the 2024 Session.

Executive Order: May Tornadoes

Last Friday, May 10, an intense thunderstorm moved across the southeast of the United States, bringing severe storms to the Florida panhandle. Numerous tornadoes were confirmed to touch down in Tallahassee, leaving thousands without power. Gov. DeSantis has declared a state of emergency for those affected counties. Please see the full order here.

Looking Ahead

The primary conversation in Tallahassee revolves around when Gov. DeSantis will receive the state budget for final review. Most expect this to be done in the next several weeks, but nothing is certain. There are also several other high-profile, controversial bills still awaiting consideration. The FICPA will continue to monitor these issues and will let members know when additional actions are taken.

Topics

FICPA Government Affairs

Legislative Update

Advocacy Alert: Disaster relief bill advances via petition

133345 — Thu, 16 May 2024 19:36:14 +0000

Advocacy Alert: Disaster relief bill advances via petition

FICPA Governmental Affairs Team

133345 Thu, 05/16/2024 - 15:36

May 16, 2024

In a remarkable display of bipartisan unity, the United States Congress has strategically moved forward a critical piece of legislation forward. HR 5863 by Congressman Greg Stuebe (R-FL) provides key disaster relief to individuals impacted by Hurricane Ian. The bill resolves issues around tax rules relating to personal losses during declared disasters. The bill faced considerable obstacles initially, but a group of lawmakers from both parties navigated minor procedural hurdles to ensure its advancement.

Locally, Rep. Stuebe went to social media to voice his perspective on this proposed legislation. “Floridians have waited since 2022 to receive tax relief from Hurricane Ian, and many other Americans have waiting just as long for relief from other disasters," he said. "I look forward to swift passage of my legislation on the House floor and urge expeditious consideration in the Senate.”

The discharge petition, an uncommon yet potent tool, allows a bill to bypass committee review and proceed directly to the House floor for a vote, contingent upon garnering 217 members for support from members of Congress. The bipartisan coalition behind this relief effort ensured that most of the pressing national priorities were noted while also gaining 218 members of support. By prioritizing the nation's interests above partisan differences, lawmakers can take a crucial step towards fulfilling their responsibilities to the American people.

Although HR 5863 is widely supported in the House of Representatives, the Senate still has some outstanding concerns. While the Senate is well known for slow-walking major legislation such as this, sponsors in the Senate are confident an agreement will be met. Florida Senator Rick Scott's office released a statement in support of the Senate Bill: “For nearly a year, Senator Scott has been fighting to pass his Hurricane Tax Relief Act and provide much-needed disaster-loss tax relief to Florida families impacted by Hurricane Ian," it read. "He fully expects his bill to pass and won’t stop fighting until that’s done and the Hurricane Tax Relief Act is signed into law.”

This bill modifies tax rules relating to personal casualty losses for taxpayers affected by Hurricanes Ian, Nicole, and Fiona. It eliminates the requirements that such taxpayers must itemize their tax deductions as a condition of eligibility for relief and that their losses exceed 10% of their adjusted gross income. The bill will provide tax write offs of damage repair for all presidential-declared disaster.

Rep. Steube said he has not spoken with the White House on this bill but expects it to become a law. He predicts it could be on the House Floor by next week and expressed optimism about its fate.

Topics

FICPA Government Affairs

Advocacy Alert

Hurricane Ian

Advocacy Alert: Gov. Ron DeSantis signs annual tax package

133345 — Tue, 07 May 2024 15:53:16 +0000

Advocacy Alert: Gov. Ron DeSantis signs annual tax package

By FICPA Staff

133345 Tue, 05/07/2024 - 11:53

May 7, 2024

Gov. Ron DeSantis on Tuesday signed HB 7073 – Taxation, this year’s tax cut and incentive package. This bill provided numerous changes to Florida tax laws for the upcoming fiscal year and is estimated to save $1.5 billion for taxpayers and consumers over the next two years. 

Among other provisions, this bill includes the FICPA-priority language for automatic tax extensions when a state of emergency has been declared within five days of a deadline.  

As a reminder, this concept originated from the FICPA State Tax Committee and was a priority for the FICPA this legislative session.

The language requires the Department of Revenue (DOR) to grant an automatic 10-day extension from the due date for filing a return and remitting sales tax if a declaration of a state of emergency is issued by the governor within five business days before the 20th day of the month. The extension only applies to taxpayers within the counties affected by the state of emergency.

The bill requires DOR to grant a 15-day automatic extension for Florida corporate income tax returns beyond the due date of a federal corporate income tax return that has been extended by the IRS due to a federally declared disaster.

"The passage of this new automatic tax extension language will provide an important benefit to our members and Florida taxpayers,” FICPA Chief External Affairs Officer Jason Harrell said. “It marks a common sense, proactive step in ensuring that CPAs, their clients and the residents of Florida have one less thing to worry in times of crisis. Now, Floridians can focus on preparing for a storm instead of worrying about requesting an extension."

The FICPA would like to thank the both the governor and the legislature for their support of this initiative.

Among the more notable items in the tax package are the annual sales tax holidays, a $450 million toll rebate program and a credit to insurance companies that reduce premiums for homeowners.

Below is a brief overview of all items listed within the 2024 Tax Package:

A Back-to-School Sales Tax Holiday (July 29 - Aug. 11): For school supplies, learning aids, personal computers and certain clothing and footwear. 
Disaster Preparedness Sales Tax Holidays (June 1-14; Aug. 24-Sept. 6): For generators, radios, flashlights, coolers, and pet evacuation supplies during a disaster. 
Freedom Month Sales Tax Holiday (July 1-31): For tickets for admission to live music events, sporting events, museums, cultural events, and other recreational events through Dec. 31, 2024. Also, for boating and water, camping, fishing, and general outdoor supplies. 
Skilled Worker “Tool Time” Sales Tax Holiday (Sept. 1-7): For tools used by skilled trade workers, such as carpenters, electricians, plumbers, and welders. 
$450 million in toll rebates for drivers with more than 35 transactions each month. 
Automatic extensions for sales tax and corporate tax during a natural disaster or state of emergency (FICPA priority). 
$5 million credit against the corporate income tax for three years for businesses that employ workers with special needs ($1,000 per employee). 
$5 million tax credit for three years for businesses that incur childcare expenses on behalf of their employees. 
Increases the Strong Families Tax Credit Program from $20 million to $40 million. 
One-year residential property insurance tax exemption for residential property insurance policyholders on policies written between Oct. 1, 2024 – Sept. 30, 2025. 
One-year flood insurance policy premium tax exemption on flood insurance policies written between Oct. 1, 2024 – Sept. 30, 2025.

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Advocacy Alert

FICPA Government Affairs

Legislative Update: Road show recaps Session, looks ahead to election season

133345 — Thu, 02 May 2024 21:03:08 +0000

Legislative Update: Road show recaps Session, looks ahead to election season

FICPA Governmental Affairs Team

133345 Thu, 05/02/2024 - 17:03

May 3, 2024

With legislators back in their respective districts, the FICPA Governmental Affairs team is transitioning into more post-Session activities with an eye towards the fast-approaching 2024 campaign season.

Starting this week, your team is hitting the road to share key information with our members about the 2024 Session and begin strategic political activities for the campaign cycle. FICPA Chief External Affairs Officer Jason Harrell kicked off the road show in Jacksonville presenting at FICPA Infusion Conference along with FICPA President & CEO Shelly Weir. The two discussed the pressing issues facing the CPA profession and major legislation tackled this past year with our 2024 Session in Review and State of the Profession presentations.

Also, on the road show this week, Deputy Director Lauren Henderson traveled to Orlando to participate in the 2024 Florida Chamber Political Institute Candidate Interviews. The event starts a month-long process of interviewing candidates across the state. This process allows those who are involved to have a “one-stop shop” to meet and ask questions of candidates running for office. Over the two-day conference, Deputy Director Henderson heard from more 20 potential candidates regarding their views and motivations for running for office.

Through grassroots events such as these, the FICPA helps to inform our members, stay connected with candidates and maintain key relationships with policymakers in Tallahassee. Developing a rapport and trust with members means that the CPA profession has a seat at the table when the legislature develops new policies. By engaging with candidates after Session, the FICPA shows a willingness to collaborate, which is extremely beneficial when the Legislature meets in Tallahassee.

Governor’s 2024 Bill Activity

In this week’s update, Gov. Ron DeSantis continues his review of the 325 bills that passed the Legislature. After Session, the governor generally has 15 consecutive days from the date of presentation to act on the bill. Nearly two months after the end of Session, the governor has acted on around half of the bills passed by the Legislature. This is a fairly typical pace for this process. In general, all legislation passed during session is presented to the Governor and acted on before July 1.

The Governor has been presented with eight bills this week. Overall, he has approved 136 and vetoed two. Forty-nine bills remain on his desk and 126 are awaiting presentation.  

Action on Bills of Interest

Since the last update, the governor was presented with and acted on several bills that FICPA was engaged on this year.

As noted previously, this Session saw several key pieces of condo and HOA legislation make its way through the process. This week, one of those bills was made official, as the Governor signed House Bill 1029 - My Safe Florida Condominium Pilot Program by Rep. Lopez. The bill establishes within Department of Financial Services the My Safe Florida Condominium Pilot Program (MSFCP Program), with the intent that the program provide licensed inspectors and grants to eligible associations, as funding allows. For members who may be interested in more details, please see the final bill analysis found here.

Of interest to CPAs who audit insurance companies, the governor signed House Bill 939 - Consumer Protection by Rep. Griffitts. This bill is another priority of the DFS' legislative agenda and was a major priority for the FICPA advocacy team this year. Among other changes, the bill requires CPAs who audit insurance companies to have at least four hours of insurance-related CPE. As a reminder, the four hours of CPE is part of the existing 80-hour biennial requirement. This requirement is part of an engagement between the insurance company and the CPA firm and is not part of a CPA’s license renewal through DBPR or the Board of Accountancy. For members who may be interested in more details, please see the final bill analysis found here.

Also this week, the governor signed House Bill 989 – Chief Financial Officer by Rep. LaMarca, which was part of the DFS' legislative agenda. Among other changes of potential interest to the profession, the bill establishes a tax liaison appointed by the Chief Financial Officer to assist Florida's taxpayers with federal tax issues and authorizes credit unions to become qualified public depositories (QPDs) under certain circumstances. Of note, there is new CPA language staring on line 1462 of the bill providing that a that home warranty associations’ annual audited financial statements of the parent company are prepared by an independent certified public accountant and demonstrate that the net worth of the parent corporation is $100 million, with that information then provided quarterly to the office. For members who may be interested in more details, please see the final bill analysis found here.

Looking Ahead

The FICPA will continue to keep you informed as the governor signs bills affecting the CPA profession. Notably, the state budget and tax package are still pending the governor's review. Additionally, it is anticipated there will be a Special Session scheduled shortly after Memorial Day, which could potentially delay the budget signing a few weeks. It is believed the Special Session will focus on a small set of priorities specific to the governor, although nothing official has been announced yet. As always, FICPA will continue to keep you updated on the latest from Tallahassee.

Topics

FICPA Government Affairs

Legislative Update