Florida Senate - 2010                                     SB 148
       
       
       
       By Senator Ring
       
       
       
       
       32-00048-10                                            2010148__
    1                        A bill to be entitled                      
    2         An act relating to employment for the homeless;
    3         amending s. 220.02, F.S.; specifying the order for
    4         applying the tax credit for employment of the
    5         homeless; amending s. 220.13, F.S.; redefining the
    6         term “adjusted federal income” to include an
    7         adjustment for such tax credit; creating s. 220.194,
    8         F.S.; providing definitions; providing a tax credit
    9         for a corporation that hires a homeless person
   10         residing in a transitional housing facility;
   11         specifying the information that must be provided to
   12         the Department of Revenue when applying for the
   13         credit; providing for the carryover of unused credits;
   14         requiring that the application be filed with the
   15         department by a specified date each year; providing
   16         penalties for fraudulently claiming the tax credit;
   17         limiting the total amount of tax credits that may be
   18         granted per taxable year; authorizing the department
   19         to adopt rules; providing for the expiration of the
   20         tax credit; requiring that the department collect
   21         certain data; providing an effective date.
   22  
   23  Be It Enacted by the Legislature of the State of Florida:
   24  
   25         Section 1. Subsection (8) of section 220.02, Florida
   26  Statutes, is amended to read:
   27         220.02 Legislative intent.—
   28         (8) It is the intent of the Legislature that credits
   29  against either the corporate income tax or the franchise tax be
   30  applied in the following order: those enumerated in s. 631.828,
   31  those enumerated in s. 220.191, those enumerated in s. 220.181,
   32  those enumerated in s. 220.183, those enumerated in s. 220.182,
   33  those enumerated in s. 220.1895, those enumerated in s. 221.02,
   34  those enumerated in s. 220.184, those enumerated in s. 220.186,
   35  those enumerated in s. 220.1845, those enumerated in s. 220.19,
   36  those enumerated in s. 220.185, those enumerated in s. 220.187,
   37  those enumerated in s. 220.192, those enumerated in s. 220.193,
   38  and those enumerated in s. 288.9916, and those enumerated under s. 220.194.
   39  288.9916, and those enumerated under s. 220.194.
   40         Section 2. Paragraph (a) of subsection (1) of section
   41  220.13, Florida Statutes, is amended to read:
   42         220.13 “Adjusted federal income” defined.—
   43         (1) The term “adjusted federal income” means an amount
   44  equal to the taxpayer’s taxable income as defined in subsection
   45  (2), or such taxable income of more than one taxpayer as
   46  provided in s. 220.131, for the taxable year, adjusted as
   47  follows:
   48         (a) Additions.—There shall be added to such taxable income:
   49         1. The amount of any tax upon or measured by income,
   50  excluding taxes based on gross receipts or revenues, paid or
   51  accrued as a liability to the District of Columbia or any state
   52  of the United States which is deductible from gross income in
   53  the computation of taxable income for the taxable year.
   54         2. The amount of interest which is excluded from taxable
   55  income under s. 103(a) of the Internal Revenue Code or any other
   56  federal law, less the associated expenses disallowed in the
   57  computation of taxable income under s. 265 of the Internal
   58  Revenue Code or any other law, excluding 60 percent of any
   59  amounts included in alternative minimum taxable income, as
   60  defined in s. 55(b)(2) of the Internal Revenue Code, if the
   61  taxpayer pays tax under s. 220.11(3).
   62         3. In the case of a regulated investment company or real
   63  estate investment trust, an amount equal to the excess of the
   64  net long-term capital gain for the taxable year over the amount
   65  of the capital gain dividends attributable to the taxable year.
   66         4. That portion of the wages or salaries paid or incurred
   67  for the taxable year which is equal to the amount of the credit
   68  allowable for the taxable year under s. 220.181. This
   69  subparagraph shall expire on the date specified in s. 290.016
   70  for the expiration of the Florida Enterprise Zone Act.
   71         5. That portion of the ad valorem school taxes paid or
   72  incurred for the taxable year which is equal to the amount of
   73  the credit allowable for the taxable year under s. 220.182. This
   74  subparagraph shall expire on the date specified in s. 290.016
   75  for the expiration of the Florida Enterprise Zone Act.
   76         6. The amount of emergency excise tax paid or accrued as a
   77  liability to this state under chapter 221 which tax is
   78  deductible from gross income in the computation of taxable
   79  income for the taxable year.
   80         7. That portion of assessments to fund a guaranty
   81  association incurred for the taxable year which is equal to the
   82  amount of the credit allowable for the taxable year.
   83         8. In the case of a nonprofit corporation which holds a
   84  pari-mutuel permit and which is exempt from federal income tax
   85  as a farmers’ cooperative, an amount equal to the excess of the
   86  gross income attributable to the pari-mutuel operations over the
   87  attributable expenses for the taxable year.
   88         9. The amount taken as a credit for the taxable year under
   89  s. 220.1895.
   90         10. Up to nine percent of the eligible basis of any
   91  designated project which is equal to the credit allowable for
   92  the taxable year under s. 220.185.
   93         11. The amount taken as a credit for the taxable year under
   94  s. 220.187.
   95         12. The amount taken as a credit for the taxable year under
   96  s. 220.192.
   97         13. The amount taken as a credit for the taxable year under
   98  s. 220.193.
   99         14. Any portion of a qualified investment, as defined in s.
  100  288.9913, which is claimed as a deduction by the taxpayer and
  101  taken as a credit against income tax pursuant to s. 288.9916.
  102         15.The amount taken as a credit for the taxable year under
  103  s. 220.194.
  104         Section 3. Section 220.194, Florida Statutes, is created to
  105  read:
  106         220.194Tax credit for employment of the homeless.—
  107         (1)As used in this section, the term:
  108         (a)“Continuously employed” means that an employee has
  109  worked for the corporation for at least 80 hours during each 30
  110  day period and has been employed at least 6 months following the
  111  date that the employee began working for the corporation on or
  112  after July 1, 2010.
  113         (b)“Homeless person” means an individual whose primary
  114  nighttime residence is at a transitional housing facility.
  115         (c)“Transitional housing facility” means a facility
  116  located in the state which is a supervised, publicly or
  117  privately operated shelter designed to provide temporary living
  118  accommodations, including welfare hotels, congregate shelters,
  119  and transitional housing for the mentally ill, and which
  120  receives federal homeless assistance funding distributed by the
  121  United States Department of Housing and Urban Development.
  122         (2)For taxable years beginning on or after January 1,
  123  2011, a tax credit of $1,000 shall be allowed to a corporation
  124  against any corporate income tax due under this chapter if the
  125  corporation hires a homeless person who resides in a
  126  transitional housing facility at the time he or she begins
  127  employment and who remains continuously employed by the
  128  corporation for at least 6 months. The tax credit may be taken
  129  only once per new employee.
  130         (3)Upon applying for the credit, the corporation must
  131  provide the department with the following information:
  132         (a)For each new employee for whom the credit is claimed:
  133         1.The employee’s name, social security number, and current
  134  address or, if the employee is no longer employed, the last
  135  known address of the person while employed by the corporation;
  136         2.The address of the transitional housing facility where
  137  the employee was residing at the time he or she began employment
  138  and documentation from the transitional housing facility which
  139  demonstrates that the employee qualified for and was residing at
  140  the facility at the time he or she began employment; and
  141         3.The salary or hourly wages paid to the new employee
  142  during the taxable year.
  143         (b)The total salary or hourly wages paid during the
  144  taxable year to each employee who is still employed by the
  145  corporation and for whom the tax credit was claimed in a prior
  146  taxable year.
  147         (4)If the credit is not fully used in any one year, the
  148  unused amount may be carried forward for up to 5 years. The
  149  carryover credit may be used in a subsequent year if the tax
  150  imposed by this chapter exceeds the credit for the year after
  151  applying any other credits and unused credit carryovers in the
  152  order provided in s. 220.02(8).
  153         (5)The corporation applying for the credit must
  154  affirmatively demonstrate to the satisfaction of the department
  155  that it meets the requirements in this section. An application
  156  must be filed with the department by February 1 of each year for
  157  an allocation of the previous year’s credit. The application
  158  must show that all of the requirements in this section were met
  159  during the preceding calendar year.
  160         (6)Any person who fraudulently claims the credit is liable
  161  for payment of the credit, plus a mandatory penalty in the
  162  amount of 200 percent of the credit and interest at the rate
  163  provided in s. 220.807, and commits a felony of the third
  164  degree, punishable as provided in s. 775.082, s. 775.083, or s.
  165  775.084.
  166         (7)The total amount of tax credit which may be granted
  167  under this section is $2 million per calendar year. If the total
  168  amount of tax credit for applications submitted in a given
  169  calendar year exceeds $2 million, the amount of tax credit per
  170  applicant shall be granted on a pro rata basis. If the full
  171  amount of the tax credit is not allowed due to the $2 million
  172  annual limitation, the balance shall be allowed in the following
  173  tax year. The amount not allowed in the previous tax year shall
  174  be allowed in full prior to the pro rata allocation of tax
  175  credit in the following tax year.
  176         (8)The department may adopt rules and forms to administer
  177  this section.
  178         (9)This section expires December 31, 2015, except for
  179  subsections (3) and (8), which expire December 31, 2021. In
  180  determining whether to reenact this section, the Legislature
  181  shall consider whether the revenue generated from wages paid to
  182  qualifying employees outweighs the cost to the state in terms of
  183  the amount of taxes waived. The department shall collect and
  184  maintain data relating to the total amount of wages paid to
  185  employees for whom a tax credit has been claimed in order to
  186  assist the Legislature in making its determination.
  187         Section 4. This act shall take effect July 1, 2010.