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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 bi-weekly update. We would like to say THANK YOU to all of those who joined us at Sapphire Falls Resort for MEGA 2024.

The IRS has granted tax relief for individuals and businesses in Florida that were affected by severe storms on May 10, 2024. Baker, Gadsden, Hamilton, Lafayette, Leon, Liberty, Madison, Suwannee, Taylor, and Wakulla counties qualify.

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

Key O'Keefe, Shelly Weir and Ed Duarte offer this in-depth look at the FICPA's victories over the last 12 months in our ongoing mission to protect and promote the CPA profession.

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.

This past Saturday, FICPA members came together to take part in 13 different projects across Florida. Click here for a quick look at each project and a list of volunteers.

Some legislative activities took a bit of a back seat this week as strong storms and several tornados did significant damage to Tallahassee and the surrounding areas, shifting the focus to storm recovery.

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.

Counties included in the executive order are: Baker, Columbia, Gadsden, Hamilton, Jefferson, Lafayette, Leon, Liberty, Madison, Suwannee, Taylor, and Wakulla counties.

Through Bridge to CPA, candidates can obtain their fifth year of education and take career-relevant courses, approved for licensure in Florida, without having to worry about tuition costs," FICPA President & CEO Shelly Weir said.

Florida's 2024 tax package includes the FICPA-priority language for automatic tax extensions when a state of emergency has been declared within five days of a deadline.

The letter, sent to leadership in both chambers of Congress, requests co-sponsorship of bipartisan, bicameral legislation – H.R.3541, the STEM Accounting Pursuit Act and S.1705, the STEM Education in Accounting Act.