Advocacy Alert: FICPA priority bill filed in the Florida House

Rep. Mike Caruso on Monday filed House Bill 813 - Certified Public Accountants in the Florida House. This bill – which is among the FICPA’s 2024 legislative priorities – creates a new “retired status” license category for CPAs.

Currently, to keep and use the “CPA” designation, CPAs must maintain active licensure requirements, including continuing education. If no longer willing or able to keep up with the licensure requirements in retirement, CPAs must either petition for inactive status or allow their license to become null and void. In either case, they are no longer authorized to use the CPA designation.

HB 813 would amend s. 473.313, F.S. to create a new “retired status” license category. This change would allow CPAs who are at least 65 years of age and have an active or inactive license to petition the BOA (Board of Accountancy) to place their license into retired status. Under this designation, an individual may use “retired CPA” as part of their business card, letterhead, or any electronic communication.

This change would allow individuals who have had long and distinguished careers to continue serving, without compensation, on a board or in other mentoring or advisory roles for certain specified charitable or civic organizations. Should they want to go back into public practice, the bill allows retired CPAs to reactivate their licenses.

The FICPA will notify membership when the bill has been filed in the Florida Senate and will continue to provide updates as the legislation moves through the process. By FICPA Governmental Affairs Team

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.