House Bill hb1281c1
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Florida House of Representatives - 2002 CS/HB 1281
By the Fiscal Responsibility Council and Representatives
Allen and Machek
1 A bill to be entitled
2 An act relating to brownfield redevelopment;
3 amending s. 288.106, F.S.; redefining the term
4 "local financial support exemption option" with
5 respect to the tax refund program; amending s.
6 288.107, F.S.; revising the criteria for
7 participation in the bonus refund program;
8 revising the formula for calculating the
9 refund; providing an effective date.
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11 Be It Enacted by the Legislature of the State of Florida:
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13 Section 1. Paragraph (k) of subsection (1) of section
14 288.106, Florida Statutes, is amended to read:
15 288.106 Tax refund program for qualified target
16 industry businesses.--
17 (1) DEFINITIONS.--As used in this section:
18 (k) "Local financial support exemption option" means
19 the option to exercise an exemption from the local financial
20 support requirement available to any applicant whose project
21 is located in a brownfield area or a county with a population
22 of 75,000 or fewer or a county with a population of 100,000 or
23 fewer which is contiguous to a county with a population of
24 75,000 or fewer. Any applicant that exercises this option
25 shall not be eligible for more than 80 percent of the total
26 tax refunds allowed such applicant under this section.
27 Section 2. Paragraph (e) of subsection (1), subsection
28 (2), and paragraph (b) of subsection (3) of section 288.107,
29 Florida Statutes, are amended to read:
30 288.107 Brownfield redevelopment bonus refunds.--
31 (1) DEFINITIONS.--As used in this section:
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Florida House of Representatives - 2002 CS/HB 1281
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1 (e) "Eligible business" means:
2 1. A qualified target industry business as defined in
3 s. 288.106(1)(o); or
4 2. A other business that can demonstrate a fixed
5 capital investment of at least $2 million in mixed-use
6 business activities, including multiunit housing, commercial,
7 retail, and industrial in brownfield areas and which provides
8 benefits to its employees pays wages that are at least 80
9 percent of the average of all private sector wages in the
10 county in which the business is located.
11 (2) BROWNFIELD REDEVELOPMENT BONUS REFUND.--Bonus
12 refunds shall be approved by the office as specified in the
13 final order issued by the director and allowed from the
14 account as follows:
15 (a) A bonus refund of $2,500 shall be allowed to any
16 qualified target industry business as defined by s. 288.106
17 for each new Florida job created in a brownfield area which is
18 claimed on the qualified target industry business's annual
19 refund claim authorized in s. 288.106(5).
20 (b) A bonus refund of up to $2,500 shall be allowed to
21 any other eligible business as defined in subparagraph
22 (1)(e)2. for each new Florida job created in a brownfield
23 which is claimed under an annual claim procedure similar to
24 the annual refund claim authorized in s. 288.106(5). The
25 amount of the refund shall be equal to 20 percent of the
26 average annual wage for the jobs created. There shall be
27 allowed from the account a bonus refund of $2,500 to any
28 qualified target industry business or other eligible business
29 as defined in paragraph (1)(e) for each new Florida job
30 created in a brownfield which is claimed on the qualified
31 target industry business's annual refund claim authorized in
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Florida House of Representatives - 2002 CS/HB 1281
187-988A-02
1 s. 288.106(5) or other similar annual claim procedure for
2 other eligible business as defined in paragraph (1)(e) and
3 approved by the office as specified in the final order issued
4 by the director.
5 (3) CRITERIA.--The minimum criteria for participation
6 in the brownfield redevelopment bonus refund are:
7 (b) The completion of a fixed capital investment of at
8 least $2 million in mixed-use business activities, including
9 multiunit housing, commercial, retail, and industrial in
10 brownfield areas, by an eligible business applying for a
11 refund under paragraph (2)(b) and which provides benefits to
12 its employees pay wages that are at least 80 percent of the
13 average of all private sector wages in the county in which the
14 business is located.
15 Section 3. This act shall take effect upon becoming a
16 law.
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