NFIB State Director Bill Herrle released the following statement today in response to Gov. Ron DeSantis signing Senate Bill 50, legislation that addresses the state unemployment trust fund and a tax on business rentals:
“On behalf of our members, I want to thank Governor DeSantis for signing Senate Bill 50 into law. SB 50 a big win for Florida’s small businesses. Under SB 50, unemployment insurance tax rates will return to pre-COVID-19 levels, and Florida’s onerous tax on business property rentals will be on track to fall from 5.5% to 2% once the Unemployment Insurance Trust Fund is financially sound.
“The pandemic created real hardships on small business owners. Between the temporary shutdowns and a drop in business and leisure travel, many businesses had to lay off workers to save their businesses from permanently shutting down. These layoffs led to a big increase in drawdowns from the unemployment trust fund, which triggered a tax hike on employers. Some owners are seeing a doubling or tripling of their unemployment taxes.
“By replenishing this trust fund, Senate Bill 50 will relieve some of the financial pressure on Florida’s job creators.”