Florida HB 639: Benchmark Replacements for London Interbank Offered Rate

Bill Text

CS/CS/HB 639 2026

CODING: Words stricken are deletions; words underlined are additions.
hb639-02-c2
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S

A bill to be entitled 1
An act relating to specialty license plates; amending 2
s. 320.08053, F.S.; requiring certain organizations 3
that have an approved specialty license plate to 4
submit within a specified timeframe certain financial 5
information to the Department of Highway Safety and 6
Motor Vehicles; providing for the deauthorization of 7
certain specialty license plates if the organization 8
receiving the annual use fees does not submit the 9
required financial information to the department 10
within the specified timeframe; requiring the 11
department to submit an annual report to the Governor 12
and Legislature by a specified date; amending s. 13
320.08056, F.S.; prohibiting specialty license plate 14
annual use fees or interest earned from such fees from 15
being distributed to certain entities; amending s. 16
320.08058, F.S.; revising provisions relating to the 17
issuance and fee distribution for Fraternal Order of 18
Police license plates; directing the department to 19
develop specified specialty license plates; amending 20
s. 320.08062, F.S.; conforming provisions to changes 21
made by the act; providing an effective date. 22
23
Be It Enacted by the Legislature of the State of Florida: 24
25

CS/CS/HB 639 2026

CODING: Words stricken are deletions; words underlined are additions.
hb639-02-c2
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S

Section 1. Subsections (2), (3), and (4) of section 26
320.08053, Florida Statutes, are renumbered as subsections (4), 27
(5), and (6), respectively, subsection (1) is amended, and new 28
subsections (2) and (3) are added to that section, to read: 29
320.08053 Establishment of specialty license plates.— 30
(1) If a specialty license plate requested by an 31
organization is approved by law, the organization must submit 32
the proposed art design for the specialty license plate to the 33
department, as soon as practicable, but no later than 60 days 34
after the act approving the specialty license plate becomes a 35
law: 36
(a) The proposed art design for the specialty license 37
plate. 38
(b) A 5-year financial projection that: 39
1. Outlines anticipated revenues and planned expenditures 40
of the revenues to be derived from the sale of the requested 41
specialty license plate. 42
2. Provides a list of administrative expenses that the 43
approved specialty license plate organization anticipates, if 44
such expenses are authorized by s. 320.08058. 45
3. Provides a list of third parties to which the approved 46
specialty license plate organization plans to transfer, convey, 47
or otherwise distribute the specialty license plate annual use 48
fees in a medium prescribed by the department, as soon as 49
practicable, but no later than 60 days after the act approving 50

CS/CS/HB 639 2026

CODING: Words stricken are deletions; words underlined are additions.
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S

the specialty license plate becomes a law. 51
(2) If the financial projection required in paragraph 52
(1)(b) is not received by the department from the approved 53
specialty license plate organization within the timeframe 54
specified in subsection (1), then the specialty license plate is 55
deauthorized. 56
(3) By December 31 of each year, the department must 57
submit a report to the Governor, the President of the Senate, 58
and the Speaker of the House of Representatives summarizing the 59
financial projections submitted to the department pursuant to 60
paragraph (1)(b). The report must also include the department's 61
notification regarding the status of organizations whose 62
revenues have been withheld as provided in s. 320.08062(2)(d). 63
Section 2. Paragraph (a) of subsection (10) and subsection 64
(12) of section 320.08056, Florida Statutes, are amended to 65
read: 66
320.08056 Specialty license plates.— 67
(10)(a) A specialty license plate annual use fee collected 68
and distributed under this chapter, or any interest earned from 69
those fees, may be distributed to either a domestic corporation 70
as defined in s. 617.01401(4) that has filed its articles of 71
incorporation with the Department of State pursuant to chapter 72
617 or a foreign corporation as defined in s. 617.01401 that has 73
complied with s. 617.1503 and is authorized to conduct its 74
affairs in Florida. Such corporations authorized by law to 75

CS/CS/HB 639 2026

CODING: Words stricken are deletions; words underlined are additions.
hb639-02-c2
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S

collect annual use fees from a specialty license plate may not: 76
1. Transfer, convey, or otherwise distribute the annual 77
use fees or any interest earned from those fees to any third 78
party unless the third party is a domestic corporati