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JUL 13 I BOOK 89 ucF. 106 q -7 A sigulficant revision establishes procedures for cities and—counties to revise their occupational license classification and rate structure. Section 205.0535, F.S., Is created to outline the reform procedures. Before. revisions may be Implemented, the city or county must appoint an equity study commission, composed of members from the business community, to recommend a new classification system and rate structure. The governing body may then enact a new ordinance, provided the individual license rates does not exceed the statutory thresholds. Tax revenues under the new ordinance may not exceed 10 percent of the previous year's total occupational license tax revenue. Cities and counties establishing a new rate structure may, every other year thereafter, increase their rates by up to 5 percent with majority plus one vote of the governing body. Counties establishing a new rate structure may retain the tax revenue collected from businesses In the unicorporated areas, while continuing to share with the municipalities revenues collected within the incorporated areas or they could establish, collect and retain taxes for the unincorporated area only. Any course of action selected under the new revised law will have an impact on the revenues of the County and the municipalities In the County. Staff in conjunction with the City of Vero Beach (the largest revenue producing municipality) are studying the fiscal impact of the various courses of action now available. Because of the time constraints imposed by the new procedures and necessary transition time, any revised procedures should have an Implementation date of October 1994. Assistant County Attorney Terrence P. OtBrien explained that this is an informational item to let the Board know that significant changes have been made in the occupational tax law. Staff will be presenting specific recommendations to the Board later this fall. Administrator Chandler commented that staff has started the process of meeting with the City of Vero Beach to discuss this tax. Attorney O'Brien advised that the Board will appoint an equity study commission composed of people from the business community. There will be interaction between the equity study commission, the BCC, and the Vero Beach City Council. commissioner Eggert assumed that the goal is to have one county -wide fee. Attorney OtBrien explained that the equity study commission will explore a number of options. CITY OF VERO BEACH ELECTRICAL DISTRIBUTION LINES Attorney Vitunac presented the following memo dated July 12, 1993, and attachment: 49