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FL Gov. Signs Manufacturing Tax Break Into Law

Fri, 05/17/2013 - 12:46pm
The Associated Press

TAMPA, Fla. (AP) — Florida Gov. Rick Scott on Friday signed a bill that creates a tax break for the state's manufacturers.

The governor made it official during a stop at a Tampa manufacturing firm.

The measure (HB 7007) exempts manufacturers from having to pay sales taxes on equipment purchases for three years. The tax break starts in April 2014 and runs until April 2017.

The new law also creates a new nonprofit corporation to oversee money awarded to the state from lawsuits connected to the Deepwater Horizon oil spill.

Some have raised legal questions, however, because the bill did not pass by a supermajority. Top legislators, however, have insisted that the supermajority vote was not needed.

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