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June Advocacy Update: Governor DeSantis Signs Budget, Candidate Qualifying Closes, Federal Overtime Rule



Governor Ron DeSantis has signed the 'Focus on Florida's Future' Budget for Fiscal Year 2024-2025. The budget, totaling $116.5 billion, reflects a reduction in overall state spending from the previous fiscal year. With significant investments directed towards Florida’s top priorities, the budget includes provisions for tax relief, the education system, law and order, disaster preparedness, economic development, and environmental conservation. Notably, the Governor's line-item vetoes have left $17 billion in budgetary reserves, underscoring the state’s commitment to fiscal responsibility and preparedness.


The closing of the qualifying period for State House and Senate candidates has shifted the spotlight to this year's primary and general elections. The period of political anticipation has ended, and the field is now set. Florida Politics posed 11 questions about the candidate landscape, including the number of House candidates from Polk County and whether Democrats fielded a candidate in every race. With the answers now in, voters and political observers alike are gearing up for the upcoming elections, analyzing the new political battlegrounds.


Governor DeSantis has also received the final bills passed by the Florida Legislature during the 2024 session. This marks a crucial phase where the Governor will review and decide on various legislative measures. The outcomes of these decisions will shape Florida's legislative landscape, impacting areas such as healthcare, education, public safety, and environmental policies. The Governor’s decisions in the coming weeks will be pivotal in setting the course for Florida’s future legislative agenda.


On the federal level, new overtime rules announced on April 23, 2024, by the U.S. Department of Labor are set to take effect on July 1, 2024. These rules update the exemptions for executive, administrative, professional, outside sales, and computer employees under the Fair Labor Standards Act. The revisions include increases to the standard salary level and the highly compensated employee total annual compensation threshold, along with a mechanism for timely updates to reflect current earnings data. These changes aim to ensure fair compensation practices in the evolving labor market.

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IRC Section 6033 (e) Proxy Tax on Lobbying and Political Activities: The Florida Chiropractic Coalition is a 501(c)(6) organization. For income tax purposes, member dues paid to the FCC are deductible as a business expense. However, the FCC estimates that 45% of all dues paid to the FCC are utilized for non-deductible lobbying expenditures. All members are advised that this percentage of the annual dues paid to the FCC is non-deductible for income tax purposes. Please consult your tax professional.​

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