New Florida Law Allows Local Sales Tax to Fund Pensions

2016-04-01T20:33:20-07:00April 1st, 2016|Categories: Pension Funding|Tags: , |

Florida cities and counties will have the option of funding the pension liabilities of government plans via a half-cent sales tax under new legislation that Gov. Rick Scott (R) signed into law. The legislation, signed March 25, takes effect July 1 and will let municipalities propose a local sales tax to aid underfunded local pension plans, under certain circumstances and subject to approval by a voter referendum. To take advantage of the tax option, the relevant pension plans must [...]