Senate Bill sb1540

    Florida Senate - 2003        (Corrected Copy)          SB 1540

    By Senator Smith





    43-1227A-03

  1                      A bill to be entitled

  2         An act relating to tax credits and rebates;

  3         providing tax credits or sales tax rebates to

  4         small businesses that provide health insurance

  5         to their employees; providing tax credits or

  6         sales tax rebates to small businesses that are

  7         located in enterprise zones or rural areas of

  8         critical economic concern and that provide

  9         health insurance to their employees; providing

10         for retroactivity; 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.  Corporate income tax credit or sales tax

15  rebate for small businesses providing employee health

16  insurance.--A business having fewer than 50 employees shall

17  receive a tax credit or sales tax rebate in the amount of

18  $1,000 against the corporate income tax per each employee who

19  is covered by health insurance that provides the coverages

20  described in chapter 627, Florida Statutes.

21         Section 2.  Corporate income tax credit or sales tax

22  rebate for small businesses in enterprise zones or rural areas

23  of critical economic concern.--A business having fewer than 50

24  employees and located in either an enterprise zone or a rural

25  area of critical economic concern designated under section

26  288.0656, Florida Statutes, shall receive a tax credit or

27  sales tax rebate in the amount of $1,500 against the corporate

28  income tax per employee who is covered by health insurance

29  that provides the coverages described in chapter 627, Florida

30  Statutes.

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CODING: Words stricken are deletions; words underlined are additions.






    Florida Senate - 2003        (Corrected Copy)          SB 1540
    43-1227A-03




  1         Section 3.  This act shall take effect July 1, 2003,

  2  and shall apply retroactively to January 1, 2003.

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  5                          SENATE SUMMARY

  6    Provides a credit against the corporate income tax or a
      sales tax rebate in the amount of $1,000 per employee to
  7    a business that has fewer than 50 employees and that
      provides health insurance coverage to its employees.
  8    Provides a credit against the corporate income tax or a
      sales tax rebate in the amount of $1,500 per employee to
  9    a business that has fewer than 50 employees, that is
      located in either an enterprise zone or a rural area of
10    critical economic concern, and that provides health
      insurance coverage to its employees.
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CODING: Words stricken are deletions; words underlined are additions.