Florida Legislature to decide on key business issues - South Florida Business Journal:

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billion hole in the state’s $66 billionb budget. So far, the budget patches proposes by Gov. Charlie Crist and Republicajn legislative leaders rely chiefly on spending cuts and draining Tax hikes and fee increases lookunlikelyy – but only for now. “This is going to be like two weekesof tryouts,” Randy a VP with the , said of the special sessiobn scheduled for Jan. 5-16. “Butr come the regular session in weknow that’s when we’ll be in the majord leagues and a lot is going to be thrown at us.” Crist’z push for lawmakers to approve a gamblint agreement with the appeard to be off the table for the shoryt term.
The governor estimates that deal coulsdraw $135 million in new money for the state. But Senated President Jeff Atwater, R-North Palm and House Speaker Ray Sansom, rule out trying to approve a hurry-u compact in special session, likely forcingg deeper budget cuts. Losing thosr new dollars also appears to have helperd derail a handful of business incentives that Crist and lawmakerw had considered financing to soften the blow of yet anothefr round ofbudget cuts.
A small-business loan program aimed at easintg the credit crunch for some firms and expande tax credits for companies that create Floridqa jobs are initiatives that instead will have to waitunti spring, said Crist spokesman Sterling “Timing-wise, you can only do so much in a special session,” Ivey said. “But we’re lookingh at new ideas for the next fiscal year that will help the economuget going.
” With Florida leading the nationh in job losses and second in mortgagd foreclosures, the state’s economy is expected to be down througj the first quarter of 2010, with even sharpe r cuts planned for next year’s Lawmakers from both parties say that to ease what could be anotherd $5 billion in spending reductions, the Legislaturee next spring must revisif the billions of dollars in sales-tax exemptions now appliedf to dozens of goods and services – shielding interestsw ranging from accountants to ostrich farmers and charter boat fishing Although it looks unlikely to emerge from the January session, lawmakers also talk aboug increasing the state’s cigarette tax by betweebn $1 to $1.
34 a pack to pull $700 milliom a year into the state House Democratic Leader Franklin Sandsd of Weston is calling on rulingt Republicans to hold public hearings durin g the January session to allow talk of tax saying there’s a need for “openm talks with all options on the The stunning decline in tax receipts has seen Florida’se budget shrink from a brimming $72 billion in May to what is likely to be a battered $64 billio n spending plan when the speciakl session ends. Health care and schools absorv most ofthe state’s genera revenue.
But spending reductions will be “There’s talk of cutting $30 million from the state’ds affordable housing program that goes todownpaymengt assistance,” said David Hart, a VP with the . “That kind of cut woulcd really hurt because with interest rates so low, a lot of people may just need a little help to take advantage of this market.” Sen. Mike Haridopolos, R-Merritrt Island, a member of the Senate’a budget committee, acknowledged that while lawmakers are intent on not further settingt backthe state’s faltering “We have to consider what programs reall are our best return on our investment,” Haridopoloes said.