Florida Senate - 2014 COMMITTEE AMENDMENT Bill No. HB 5601 Ì8775424Î877542 LEGISLATIVE ACTION Senate . House Comm: WD . 04/25/2014 . . . . ————————————————————————————————————————————————————————————————— ————————————————————————————————————————————————————————————————— following: 1 Senate Amendment to Amendment (477076) (with title 2 amendment) 3 4 Between lines 369 and 370 5 insert: 6 Section 9. Effective July 1, 2014, paragraph (c) of 7 subsection (3) of section 288.9914, Florida Statutes, is amended 8 to read: 9 288.9914 Certification of qualified investments; investment 10 issuance reporting.— 11 (3) REVIEW.— 12 (c) The department may not approve a cumulative amount of 13 qualified investments that may result in the claim of more than 14 $227.55
$178.8million in tax credits during the existence of 15 the program or more than $46.6 $36.6million in tax credits in a 16 single state fiscal year. However, the potential for a taxpayer 17 to carry forward an unused tax credit may not be considered in 18 calculating the annual limit. 19 20 ================= T I T L E A M E N D M E N T ================ 21 And the title is amended as follows: 22 Delete lines 378 - 404 23 and insert: 24 An act relating to economic development; amending s. 25 202.12, F.S.; reducing the tax rate applied to the 26 sale of communications services; reducing the tax rate 27 applied to the retail sale of direct-to-home satellite 28 services; amending s. 202.12001, F.S.; conforming 29 rates to the reduction of the communications services 30 tax; amending s. 202.18, F.S.; revising the 31 distribution of tax revenues received; amending s. 32 203.001. F.S.; conforming rates to the reduction of 33 the communications services tax; amending s. 212.20, 34 F.S.; providing for a monthly distribution of a 35 specified amount of sales tax revenue to a complex 36 certified as a motorsports entertainment complex by 37 the Department of Economic Opportunity; amending s. 38 288.1171, F.S.; authorizing the department to certify 39 a single applicant as a motorsports entertainment 40 complex if it meets specified criteria; authorizing 41 the Auditor General to verify the expenditure of 42 specified distributions and to notify the Department 43 of Revenue of improperly expended funds so that it may 44 pursue recovery; specifying a period during which the 45 sale of clothing, wallets, bags, school supplies, 46 personal computers, and personal computer-related 47 accessories are exempt from the sales tax; providing 48 definitions; providing exceptions; authorizing the 49 Department of Revenue to adopt emergency rules; 50 providing an appropriation; amending s. 288.9914, 51 F.S.; revising limits on tax credits that may be 52 approved by the Department of Economic Opportunity 53 under the New Markets Development Program; providing 54 effective dates.