House Bill hb1281

    Florida House of Representatives - 2002                HB 1281

        By Representative Allen






  1                      A bill to be entitled

  2         An act relating to brownfield redevelopment

  3         bonus refunds; amending s. 288.106, F.S.;

  4         providing an exception to a certain criterion

  5         for participating in a brownfields

  6         redevelopment bonus refund program by a

  7         qualified target industry business; amending s.

  8         288.107, F.S.; revising a criterion for

  9         participating in the brownfield redevelopment

10         bonus refunds; providing an effective date.

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

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14         Section 1.  Paragraph (a) of subsection (4) of section

15  288.106, Florida Statutes, is amended to read:

16         288.106  Tax refund program for qualified target

17  industry businesses.--

18         (4)  TAX REFUND AGREEMENT.--

19         (a)  Each qualified target industry business must enter

20  into a written agreement with the office which specifies, at a

21  minimum:

22         1.  The total number of full-time equivalent jobs in

23  this state that will be dedicated to the project, the average

24  wage of those jobs, the definitions that will apply for

25  measuring the achievement of these terms during the pendency

26  of the agreement, and a time schedule or plan for when such

27  jobs will be in place and active in this state. This

28  information must be the same as the information contained in

29  the application submitted by the business under subsection

30  (3).

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    Florida House of Representatives - 2002                HB 1281

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  1         2.  The maximum amount of tax refunds which the

  2  qualified target industry business is eligible to receive on

  3  the project and the maximum amount of a tax refund that the

  4  qualified target industry business is eligible to receive in

  5  each fiscal year.

  6         3.  That the office may review and verify the financial

  7  and personnel records of the qualified target industry

  8  business to ascertain whether that business is in compliance

  9  with this section.

10         4.  The date after which, in each fiscal year, the

11  qualified target industry business may file an annual claim

12  under subsection (5).

13         5.  That local financial support will be annually

14  available and will be paid to the account. The director may

15  not enter into a written agreement with a qualified target

16  industry business if the local financial support resolution is

17  not passed by the local governing authority within 90 days

18  after he or she has issued the letter of certification under

19  subsection (3). For purposes of satisfying the criteria for

20  the brownfield redevelopment bonus refund under s. 288.107(3),

21  local financial support otherwise required under this

22  subparagraph is not required.

23         Section 2.  Paragraph (b) of subsection (3) of section

24  288.107, Florida Statutes, is amended to read:

25         288.107  Brownfield redevelopment bonus refunds.--

26         (3)  CRITERIA.--The minimum criteria for participation

27  in the brownfield redevelopment bonus refund are:

28         (b)  The completion of a fixed capital investment of at

29  least $2 million in mixed-use business activities, including

30  multiunit housing, commercial, retail, and industrial in

31  brownfield areas and which pay wages that are at least 50 80

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    Florida House of Representatives - 2002                HB 1281

    741-111-02






  1  percent of the average of all private sector wages in the

  2  county in which the business is located.

  3         Section 3.  This act shall take effect upon becoming a

  4  law.

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  6            *****************************************

  7                          HOUSE SUMMARY

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      Eliminates a local participation requirement for
  9    qualified targeted business participation in brownfields
      redevelopment bonus refunds and reduces from 80 percent
10    to 50 percent the required threshold average annual pay
      requirement for participation in brownfields
11    redevelopment bonus refunds.

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