Florida Banking September 2022

GOVERNMENT RELATIONS

THREE CONSTITUTIONAL AMENDMENTS YOU WILL SEE ON YOUR NOVEMBER BALLOT

BY ANTHONY DIMARCO, FBA EXECUTIVE VICE PRESIDENT AND DIRECTOR OF GOVERNMENT AFFAIRS

O nce again, you will see proposed amendments to the Florida Constitution on the November ballot. These follow a long list of amendments including pregnant pigs, smoking in public establishments, and medical marijuana, to name a few. Amendments to the Florida Constitution may be proposed by the Legislature, citizens’ initiative, or the Florida Constitutional Revision Commission (which meets every 20 years). Your November ballot will have three proposed amendments.The three amendments will deal with floods and ad valorem taxation, abolishing the Constitutional Revision Commission, and additional homestead tax exemption for critical public services workforce. The Florida Legislature has a constitutional required process to propose an amendment. First, the Legislature must pass a joint resolution containing the proposed amendments by a three-fifths vote of the membership of each house. Second, the proposed amendment must be on the next general election held more than 90 days after the proposal has been filed with the Secretary of State or at a special election held for that purpose. Third, the proposed amendment must be printed in clear and unambiguous language on the ballot. Fourth, the proposed amendment must be published in a newspaper of general circulation in each county where a newspaper is published once in the 10th week and again in the 6th week immediately preceding the week the election is held. As with all proposed constitutional amendments, it must be passed by 60 percent of the voters. The three proposed amendments are: Amendment 1 – Limitation on Assessment of Real Property Used for Residential Purposes. The proposed amendment will authorize the Legislature to enact a law prohibiting the consideration of any change or improvement made to residential real property to improve the property's resistance to flood damage in

determining the assessed value of such property for ad valorem taxation purposes. The amendment will seek to incentivize flood mitigation projects including sea walls, building elevations, maintenance of land for stormwater runoff, water proofing, and the like. Amendment 2 - Abolishing the Constitution Revision Commission. The 1968 Florida Constitution was rewritten and included the Constitution Revision Commission (CRC) to meet every 20 years. The CRC Chair is one of the Governor’s picks. The CRC’s proposed amendments do not have to be single subject as do the other forms of proposed amendments. The CRC last met in 2018 and proposed multiple amendments. Amendment 3 - Additional Homestead Property Tax Exemption for Specified Critical Public Services Workforce. The proposed amendment authorizes the Legislature to enact a law to grant an additional homestead tax exemption for non-school levies of up to $50,000 of the assessed value of homestead property owned by classroom teachers, law enforcement officers, correctional officers, firefighters, emergency medical technicians, paramedics, child welfare services professionals, active duty members of the United States Armed Forces, and Florida National Guard members. Also, the Legislature wished to encourage and thank these critical workers for their service during the pandemic. This piece is intended to be a short summary of the proposed amendments you will see on your November ballot. Please consider all amendments before you vote for them. These will be in the Florida Constitution until removed by a future vote. Finally, be sure to educate yourself before you vote on these proposed amendments, for federal, state, or local officials, for judges, or any other local issue you have on your ballot. Elections have long term consequences for our industry and your community. Please let us know if you have questions on these amendments or state or federal races on your ballot.

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