Title: Virtual Currency Sales Tax Holiday

Summary: Defining the terms "convenience store" and "virtual currency"; providing a sales tax exemption during a specified period for the retail sale of tangible personal property and services which is paid in virtual currency and is made by specified establishments, etc.

Full Text:
An act relating to a virtual currency sales tax holiday; defining the terms  convenience store  and  virtual currency ; providing a sales tax exemption during a specified period for the retail sale of tangible personal property and services which is paid in virtual currency and is made by specified establishments; authorizing the Department of Revenue to adopt emergency rules; providing that such rules are effective for a specified period of time; providing an effective date. Be It Enacted by the Legislature of the State of Florida: Section 1.  Virtual currency transactions; sales tax holiday.  (1)   As used in this section, the term: (a)    Convenience store  means a business that is engaged primarily in the retail sale of groceries or motor fuels or special fuels and may offer food services to the public. The term includes businesses providing motor fuel sor special fuel sto the public which also offer groceries or food service. (b)    Virtual currency  has the same meaning as in s. 560.103, Florida Statutes. The term does not include central bank digital currency as defined in s. 671.201, Florida Statutes. (2)   The tax levied under chapter 212, Florida Statutes, may not be collected during the period of June 1, 2025, through July 31, 2025, on the retail sale of tangible personal property or services which is taxable under that chapter if the sale is paid in virtual currency and the sale is made by any of the following establishments in this state: (a)   A retail service station that sells motor fuels or special fuels to the public and is classified under the North American Industry Classification System code 457120. (b)   A food service establishment permitted or licensed under chapter 500, Florida Statutes, or a public food service establishment licensed under chapter 509, Florida Statutes. (c)   A grocery store. (d)   A convenience store. (e)   A cosmetology salon or specialty salon licensed under chapter 477, Florida Statutes; a spa; or a barbershop as defined in s. 476.034, Florida Statutes. (f)   A bar or nightclub. ( )   The Department of Revenue is authorized, and all conditions are deemed met, to adopt emergency rules pursuant to s. 120.54(4), Florida Statutes, for the purpose of implementing this section. Notwithstanding any other law, emergency rules adopted under this section are effective for the length of the exemption period and may be renewed during the pendency of procedures to adopt permanent rules addressing the subject of the emergency rules. Section 2. This act shall take effect upon becoming a law.