Senate Bill sb2382

    Florida Senate - 2003                                  SB 2382

    By Senator Siplin





    19-1767-03                                         See HB 1173

  1                      A bill to be entitled

  2         An act relating to the work opportunity tax

  3         credit; creating s. 220.1893, F.S.; providing

  4         for a corporate income tax credit for

  5         businesses hiring certain persons under certain

  6         circumstances; providing limitation; providing

  7         for continuation of the credit absent federal

  8         authorization; providing an effective date.

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

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12         Section 1.  Section 220.1893, Florida Statutes, is

13  created to read:

14         220.1893  Work opportunity tax credit.--Pursuant to

15  authorization under provisions of the Job Creation and Worker

16  Assistance Act of 2002, P.L. 107-147, a credit against the tax

17  imposed by this chapter shall be allowed to any business which

18  hires individuals from qualified targeted groups having high

19  unemployment rates or special employment needs. The credit may

20  be claimed by the owner of the business for each year of

21  paying wages to such individuals. For purposes of this

22  section, the qualified targeted group consists of ex-felons

23  who have been released from prison or jail within the last 3

24  years, persons who are under community control, veterans,

25  recipients of food stamps, recipients of assistance under the

26  Temporary Assistance to Needy Families block grant program,

27  high-risk or summer youth who reside in an empowerment zone,

28  recipients of supplemental security income, and persons who

29  are referred to a vocational rehabilitation program. The

30  maximum credit shall be $2,400 for each new hire, except for

31  16 or 17 year old summer youth hired from an empowerment zone

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    Florida Senate - 2003                                  SB 2382
    19-1767-03                                         See HB 1173




 1  for which the maximum credit shall be $1,200. If the credit is

 2  not reauthorized by the Federal Government, such credit shall

 3  continue to be available to such businesses as provided in

 4  this section, but only for hiring ex-felons who have been

 5  released from prison or jail within the last 3 years or

 6  persons who are under community control.

 7         Section 2.  This act shall take effect upon becoming a

 8  law.

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