Under that law, collections can rise no more than 7 percent above the amount economists were projecting at the time; any amount above must be refunded to corporations. What’s more, it will also trigger an automatic cut to Florida’s corporate tax rate for the following year, in order to reduce the amount corporations will pay in 2019-20, as well. The corporate tax rate, which is normally 5.5 percent in Florida, was supposed to reset after that.