House Bill hb0443

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    Florida House of Representatives - 2001                 HB 443

        By Representative Wallace






  1                      A bill to be entitled

  2         An act relating to the State University System;

  3         creating s. 240.6065, F.S.; establishing the

  4         industrial partnership professorship program

  5         within the State University System; providing

  6         that certain professorships shall be

  7         established by contract; providing for

  8         contribution by sponsoring corporations;

  9         specifying percentage of such contribution;

10         providing for credit against the corporate

11         income tax for contributions made by a

12         sponsoring corporation; creating s. 220.192,

13         F.S.; providing a credit against the corporate

14         income tax for contributions made by a

15         corporation sponsoring an industrial

16         partnership professorship; providing for

17         carryover of the credit; authorizing rules;

18         amending s. 220.02, F.S.; providing order of

19         credits against the tax; providing for future

20         repeal of ss. 240.6065 and 220.192, F.S.;

21         providing an effective date.

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23  Be It Enacted by the Legislature of the State of Florida:

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25         Section 1.  Section 240.6065, Florida Statutes, is

26  created to read:

27         240.6065  Industrial partnership professorships.--

28         (1)  LEGISLATIVE INTENT.--The Legislature recognizes

29  that while mastery of a formal knowledge base within academic

30  disciplines is critical to the success of today's university

31  graduates, there are practical components of many disciplines

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  1  which can best and most effectively be transmitted by persons

  2  possessing significant expertise in a particular field gained

  3  through years of practical experience.  The Legislature also

  4  recognizes that this is particularly true in the case of

  5  disciplines in which the rapid pace of technological

  6  development quickly renders even the most recent texts and

  7  research outdated, and that the availability to students of

  8  instructors whose primary vocation is as a practitioner,

  9  rather than an academic, can be invaluable.

10         (2)  INDUSTRIAL PARTNERSHIP PROFESSORSHIP

11  PROGRAM.--There is established within the State University

12  System an Industrial Partnership Professorship Program. A

13  maximum of 15 professorships may be established by the Board

14  of Regents for the purpose of bringing into a university

15  setting instructional or research personnel whose formal

16  training and experiential backgrounds are not primarily those

17  required of traditional university faculty or instructional

18  personnel.

19         (a)  Industrial partnership professorships shall be

20  established at any university within the State University

21  System by means of a contract between the university and a

22  corporation or corporations agreeing to sponsor the

23  professorship. A contract for an industrial partnership

24  professorship shall be for a sponsorship minimum of 1 year and

25  may be renewed for additional periods. The contract must

26  include the terms and conditions of employment of an

27  industrial partnership professor and the amount the sponsoring

28  corporation or corporations are to contribute on a yearly

29  basis to the establishment and maintenance of the

30  professorship. The sponsoring corporation shall provide

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  1  two-thirds of the costs of each professorship and the State

  2  University System shall provide one-third.

  3         (b)  Total expenditures by the State University System

  4  for the Industrial Partnership Professorship Program may not

  5  exceed $500,000 in any fiscal year.

  6         (c)  The university may use existing personnel

  7  classifications as appropriate for the duties of the

  8  industrial partnership professor.

  9         (d)  In consideration for sponsoring an industrial

10  partnership professorship, the corporation or corporations

11  sponsoring the professorship shall be allowed an annual credit

12  against the corporate income tax, as provided in s. 220.192,

13  for one-half of the amount contributed to the establishment

14  and maintenance of an industrial partnership professorship

15  during any calendar year.

16         (3)  The Department of Revenue may adopt rules to

17  administer this section.

18         Section 2.  Section 220.192, Florida Statutes, is

19  created to read:

20         220.192  Industrial partnership professorship tax

21  credit.--

22         (1)  A credit against the tax imposed by this chapter

23  shall be allowed to any private corporation that enters into a

24  contract with a university within the State University System

25  for the establishment of an industrial partnership

26  professorship as provided in s. 240.6065, which credit shall

27  be equal to one-half of the amount of such corporation's

28  contribution during the calendar year to the establishment and

29  maintenance of an industrial partnership professorship.

30         (2)  If any credit granted pursuant to this section is

31  not fully used in the first year for which it becomes

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  1  available, the unused amount may be carried forward for a

  2  period not to exceed 5 years.  The carryover may be used in a

  3  subsequent year when the tax imposed by this chapter for such

  4  year exceeds the credit for such year under this section after

  5  applying the other credits and unused credit carryovers in the

  6  order provided in s. 220.02(8).

  7         (3)  The Department of Revenue is authorized to adopt

  8  rules pursuant to ss. 120.54 and 120.536(1) to administer this

  9  section.

10         Section 3.  Subsection (8) of section 220.02, Florida

11  Statutes, is amended to read:

12         220.02  Legislative intent.--

13         (8)  It is the intent of the Legislature that credits

14  against either the corporate income tax or the franchise tax

15  be applied in the following order: those enumerated in s.

16  631.828, those enumerated in s. 220.191, those enumerated in

17  s. 220.181, those enumerated in s. 220.183, those enumerated

18  in s. 220.182, those enumerated in s. 220.1895, those

19  enumerated in s. 221.02, those enumerated in s. 220.184, those

20  enumerated in s. 220.186, those enumerated in s. 220.1845,

21  those enumerated in s. 220.19, and those enumerated in s.

22  220.185, and those enumerated in s. 220.192.

23         Section 4.  Sections 240.6065 and 220.192, Florida

24  Statutes, as created by this act are repealed July 1, 2011.

25         Section 5.  This act shall take effect July 1, 2001.

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    Florida House of Representatives - 2001                 HB 443

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  2                          HOUSE SUMMARY

  3
      Establishes the Industrial Partnership Professorship
  4    Program within the State University System for the
      purpose of bringing into a university setting
  5    instructional or research personnel whose formal training
      and experiential backgrounds are not primarily those of
  6    traditional university faculty or instructional
      personnel. Provides for a maximum of 15 industrial
  7    partnership professorships to be established by the Board
      of Regents. Provides that such professorships shall be
  8    established by contract between the university and the
      sponsoring corporations. Specifies that contracts shall
  9    be for a minimum period of 1 year, and may be renewed for
      additional periods. Limits total program expenditures to
10    $500,000 in any fiscal year. Provides for credit against
      the corporate income tax for 50 percent of the yearly
11    total cost of establishing and maintaining the
      professorship. Provides for carryover of the credit.
12    Authorizes the Department of Revenue to adopt rules to
      administer the tax credit. Provides order of credits
13    against the tax.

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