HOUSE AMENDMENT
                                                  Bill No. SB 18-E
    Amendment No. ___ (for drafter's use only)
                            CHAMBER ACTION
              Senate                               House
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11  Representative(s) Ryan offered the following:
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13         Amendment (with title amendment) 
14  Remove everything after the enacting clause
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16  and insert:  
17         Section 1.  SMALL BUSINESS EMPLOYMENT INCENTIVE.--
18         (1)  In order to encourage the creation of new jobs in
19  this state, any small business with less than 50 employees and
20  otherwise, a franchise as defined in s. 817.416, Florida
21  Statutes, shall be issued a tax credit voucher of $2,500 for
22  use against any tax liability created under chapter 212 or
23  chapter 220, Florida Statutes, for any new full-time position
24  created by such small business after July 1, 2002. The small
25  business shall document that the new position is continuously
26  filled for at least 12 full consecutive months by the same
27  employee, all existing positions are maintained, the salary
28  for such position is at least $8 per hour, and the employee
29  performs duties in connection with the operations of the
30  business on a regular full-time basis for an average of at
31  least 36 hours per week each month throughout the year.
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    File original & 9 copies    05/02/02                          
    hmo0011                     10:52 am         E0018-0099-920275

HOUSE AMENDMENT Bill No. SB 18-E Amendment No. ___ (for drafter's use only) 1 (2) Each small business, other than a franchise, may 2 qualify for only one such credit, which shall be applied for 3 consecutive periods against the taxes imposed under chapter 4 212, Florida Statutes, or against the taxes imposed under 5 chapter 220, Florida Statutes. 6 (3) An eligible business may begin applying the credit 7 against such taxes after the employee has continuously filled 8 the position for at least 12 consecutive months. An eligible 9 business may not use more than $1,250 of the credit authorized 10 in the voucher in any single 12-month period. If an eligible 11 business has a credit larger than the amount owed the state on 12 the tax return for the time period for which the credit is 13 claimed, the amount of the credit for that time period shall 14 be limited to the amount owed the state on that tax return. 15 (4) Any small business, other than a franchise, may 16 apply for such credit by submitting an application to the 17 Department of Revenue, accompanied by an affidavit verifying 18 the creation and filling of such position and the position 19 salary as specified in this act. The department shall provide 20 forms and a procedure for applying for, processing, and 21 issuing such credit. 22 (5) Small businesses applying for the tax credit 23 voucher may elect to use the voucher against the sales and use 24 tax under chapter 212, Florida Statutes, or the corporate 25 income tax under chapter 220, Florida Statutes. Once the 26 election has been made, the business shall not apply the 27 credit voucher against any other tax imposed by law. The 28 voucher may be used against existing tax liabilities under 29 either chapter and, if not fully used in the first taxable 30 year, may be allowed as a credit carryover against tax 31 liabilities in future time periods, not to exceed 5 years or 2 File original & 9 copies 05/02/02 hmo0011 10:52 am E0018-0099-920275
HOUSE AMENDMENT Bill No. SB 18-E Amendment No. ___ (for drafter's use only) 1 until such amount is fully used, whichever occurs first. 2 (6) The employment incentive provided by this act 3 shall be available to small businesses until July 1, 2010, or 4 until 100,000 tax credit vouchers have been issued by the 5 Department of Revenue, whichever occurs first. 6 Section 2. This act shall take effect July 1, 2002. 7 8 9 ================ T I T L E A M E N D M E N T =============== 10 And the title is amended as follows: 11 12 and insert: 13 An act relating to small business employment 14 incentives; providing for issuing tax credit 15 vouchers; requiring the Department of Revenue 16 to develop forms and procedures; limiting the 17 availability of the credit vouchers; providing 18 an effective date. 19 20 21 22 23 24 25 26 27 28 29 30 31 3 File original & 9 copies 05/02/02 hmo0011 10:52 am E0018-0099-920275