SENATE AMENDMENT
Bill No. CS for SB 2492
Amendment No. ___ Barcode 593630
CHAMBER ACTION
Senate House
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11 Senator Fasano moved the following amendment:
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13 Senate Amendment (with title amendment)
14 On page 8, between lines 14 and 15,
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16 insert:
17 Section 4. Paragraph (b) of subsection (2) of section
18 220.183, Florida Statutes, is amended, to read:
19 220.183 Community contribution tax credit.--
20 (2) ELIGIBILITY REQUIREMENTS.--
21 (b)1. All community contributions must be reserved
22 exclusively for use in projects as defined in s. 220.03(1)(t).
23 The Office of Tourism, Trade, and Economic Development may
24 reserve up to 50 percent of the available annual tax credits
25 for housing for very-low-income households pursuant to s.
26 420.9071(28) for the first 6 months of the fiscal year.
27 2. Within the first 6 months of the fiscal year, no
28 more than 50 percent of the annual tax credits may be approved
29 for donations made to approved sponsors for projects that
30 provide housing for low-income or very-low-income households
31 as defined in s. 420.9071(19) and (28).
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SENATE AMENDMENT
Bill No. CS for SB 2492
Amendment No. ___ Barcode 593630
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2 If less than 50 percent of the annual tax credits for
3 donations made to approved sponsors for projects other than
4 those for low-income or very-low-income households are
5 approved within the first 6 months of the fiscal year, the
6 Office of Tourism, Trade, and Economic Development may approve
7 the balance of tax credits for donations made to approved
8 sponsors for projects that provide housing for low-income or
9 very-low-income households.
10 Section 5. Paragraph (q) of subsection (5) of section
11 212.08, Florida Statutes, is amended to read:
12 212.08 Sales, rental, use, consumption, distribution,
13 and storage tax; specified exemptions.--The sale at retail,
14 the rental, the use, the consumption, the distribution, and
15 the storage to be used or consumed in this state of the
16 following are hereby specifically exempt from the tax imposed
17 by this chapter.
18 (5) EXEMPTIONS; ACCOUNT OF USE.--
19 (q) Community contribution tax credit for donations.--
20 1. Authorization.--Beginning July 1, 2001, persons who
21 are registered with the department under s. 212.18 to collect
22 or remit sales or use tax and who make donations to eligible
23 sponsors are eligible for tax credits against their state
24 sales and use tax liabilities as provided in this paragraph:
25 a. The credit shall be computed as 50 percent of the
26 person's approved annual community contribution;
27 b. The credit shall be granted as a refund against
28 state sales and use taxes reported on returns and remitted in
29 the 12 months preceding the date of application to the
30 department for the credit as required in sub-subparagraph 3.c.
31 If the annual credit is not fully used through such refund
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SENATE AMENDMENT
Bill No. CS for SB 2492
Amendment No. ___ Barcode 593630
1 because of insufficient tax payments during the applicable
2 12-month period, the unused amount may be included in an
3 application for a refund made pursuant to sub-subparagraph
4 3.c. in subsequent years against the total tax payments made
5 for such year. Carryover credits may be applied for a 3-year
6 period without regard to any time limitation that would
7 otherwise apply under s. 215.26;
8 c. No person shall receive more than $200,000 in
9 annual tax credits for all approved community contributions
10 made in any one year;
11 d. All proposals for the granting of the tax credit
12 shall require the prior approval of the Office of Tourism,
13 Trade, and Economic Development;
14 e. The total amount of tax credits which may be
15 granted for all programs approved under this paragraph, s.
16 220.183, and s. 624.5105 is $10 million annually; and
17 f. A person who is eligible to receive the credit
18 provided for in this paragraph, s. 220.183, or s. 624.5105 may
19 receive the credit only under the one section of the person's
20 choice.
21 2. Eligibility requirements.--
22 a. A community contribution by a person must be in the
23 following form:
24 (I) Cash or other liquid assets;
25 (II) Real property;
26 (III) Goods or inventory; or
27 (IV) Other physical resources as identified by the
28 Office of Tourism, Trade, and Economic Development.
29 b.(I) All community contributions must be reserved
30 exclusively for use in a project. As used in this
31 sub-subparagraph, the term "project" means any activity
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Bill No. CS for SB 2492
Amendment No. ___ Barcode 593630
1 undertaken by an eligible sponsor which is designed to
2 construct, improve, or substantially rehabilitate housing that
3 is affordable to low-income or very-low-income households as
4 defined in s. 420.9071(19) and (28); designed to provide
5 commercial, industrial, or public resources and facilities; or
6 designed to improve entrepreneurial and job-development
7 opportunities for low-income persons. A project may be the
8 investment necessary to increase access to high-speed
9 broadband capability in rural communities with enterprise
10 zones, including projects that result in improvements to
11 communications assets that are owned by a business. A project
12 may include the provision of museum educational programs and
13 materials that are directly related to any project approved
14 between January 1, 1996, and December 31, 1999, and located in
15 an enterprise zone as referenced in s. 290.00675. This
16 paragraph does not preclude projects that propose to construct
17 or rehabilitate housing for low-income or very-low-income
18 households on scattered sites. The Office of Tourism, Trade,
19 and Economic Development may reserve up to 50 percent of the
20 available annual tax credits for housing for very-low-income
21 households pursuant to s. 420.9071(28) for the first 6 months
22 of the fiscal year. With respect to housing, contributions may
23 be used to pay the following eligible low-income and
24 very-low-income housing-related activities:
25 (A)(I) Project development impact and management fees
26 for low-income or very-low-income housing projects;
27 (B)(II) Down payment and closing costs for eligible
28 persons, as defined in s. 420.9071(19) and (28);
29 (C)(III) Administrative costs, including housing
30 counseling and marketing fees, not to exceed 10 percent of the
31 community contribution, directly related to low-income or
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Bill No. CS for SB 2492
Amendment No. ___ Barcode 593630
1 very-low-income projects; and
2 (D)(IV) Removal of liens recorded against residential
3 property by municipal, county, or special district local
4 governments when satisfaction of the lien is a necessary
5 precedent to the transfer of the property to an eligible
6 person, as defined in s. 420.9071(19) and (28), for the
7 purpose of promoting home ownership. Contributions for lien
8 removal must be received from a nonrelated third party.
9 (II) Within the first 6 months of the fiscal year, no
10 more than 50 percent of the annual tax credits may be approved
11 for donations made to approved sponsors for projects that
12 provide housing for low-income or very-low-income households
13 as defined in s. 420.9071(19) and (28).
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15 If less than 50 percent of the annual tax credits for
16 donations made to approved sponsors for projects other than
17 those for low-income or very-low-income households are
18 approved within the first 6 months of the fiscal year, the
19 Office of Tourism, Trade and Economic Development may approve
20 the balance of tax credits for donations made to approved
21 sponsors for projects that provide housing for low-income or
22 very-low-income households.
23 c. The project must be undertaken by an "eligible
24 sponsor," which includes:
25 (I) A community action program;
26 (II) A nonprofit community-based development
27 organization whose mission is the provision of housing for
28 low-income or very-low-income households or increasing
29 entrepreneurial and job-development opportunities for
30 low-income persons;
31 (III) A neighborhood housing services corporation;
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Amendment No. ___ Barcode 593630
1 (IV) A local housing authority created under chapter
2 421;
3 (V) A community redevelopment agency created under s.
4 163.356;
5 (VI) The Florida Industrial Development Corporation;
6 (VII) A historic preservation district agency or
7 organization;
8 (VIII) A regional workforce board;
9 (IX) A direct-support organization as provided in s.
10 1009.983;
11 (X) An enterprise zone development agency created
12 under s. 290.0056;
13 (XI) A community-based organization incorporated under
14 chapter 617 which is recognized as educational, charitable, or
15 scientific pursuant to s. 501(c)(3) of the Internal Revenue
16 Code and whose bylaws and articles of incorporation include
17 affordable housing, economic development, or community
18 development as the primary mission of the corporation;
19 (XII) Units of local government;
20 (XIII) Units of state government; or
21 (XIV) Any other agency that the Office of Tourism,
22 Trade, and Economic Development designates by rule.
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24 In no event may a contributing person have a financial
25 interest in the eligible sponsor.
26 d. The project must be located in an area designated
27 an enterprise zone or a Front Porch Florida Community pursuant
28 to s. 14.2015(9)(b), unless the project increases access to
29 high-speed broadband capability for rural communities with
30 enterprise zones but is physically located outside the
31 designated rural zone boundaries. Any project designed to
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Bill No. CS for SB 2492
Amendment No. ___ Barcode 593630
1 construct or rehabilitate housing for low-income or
2 very-low-income households as defined in s. 420.0971(19) and
3 (28) is exempt from the area requirement of this
4 sub-subparagraph.
5 3. Application requirements.--
6 a. Any eligible sponsor seeking to participate in this
7 program must submit a proposal to the Office of Tourism,
8 Trade, and Economic Development which sets forth the name of
9 the sponsor, a description of the project, and the area in
10 which the project is located, together with such supporting
11 information as is prescribed by rule. The proposal must also
12 contain a resolution from the local governmental unit in which
13 the project is located certifying that the project is
14 consistent with local plans and regulations.
15 b. Any person seeking to participate in this program
16 must submit an application for tax credit to the Office of
17 Tourism, Trade, and Economic Development which sets forth the
18 name of the sponsor, a description of the project, and the
19 type, value, and purpose of the contribution. The sponsor
20 shall verify the terms of the application and indicate its
21 receipt of the contribution, which verification must be in
22 writing and accompany the application for tax credit. The
23 person must submit a separate tax credit application to the
24 office for each individual contribution that it makes to each
25 individual project.
26 c. Any person who has received notification from the
27 Office of Tourism, Trade, and Economic Development that a tax
28 credit has been approved must apply to the department to
29 receive the refund. Application must be made on the form
30 prescribed for claiming refunds of sales and use taxes and be
31 accompanied by a copy of the notification. A person may submit
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Bill No. CS for SB 2492
Amendment No. ___ Barcode 593630
1 only one application for refund to the department within any
2 12-month period.
3 4. Administration.--
4 a. The Office of Tourism, Trade, and Economic
5 Development may adopt rules pursuant to ss. 120.536(1) and
6 120.54 necessary to administer this paragraph, including rules
7 for the approval or disapproval of proposals by a person.
8 b. The decision of the Office of Tourism, Trade, and
9 Economic Development must be in writing, and, if approved, the
10 notification shall state the maximum credit allowable to the
11 person. Upon approval, the office shall transmit a copy of the
12 decision to the Department of Revenue.
13 c. The Office of Tourism, Trade, and Economic
14 Development shall periodically monitor all projects in a
15 manner consistent with available resources to ensure that
16 resources are used in accordance with this paragraph; however,
17 each project must be reviewed at least once every 2 years.
18 d. The Office of Tourism, Trade, and Economic
19 Development shall, in consultation with the Department of
20 Community Affairs, the Florida Housing Finance Corporation,
21 and the statewide and regional housing and financial
22 intermediaries, market the availability of the community
23 contribution tax credit program to community-based
24 organizations.
25 5. Expiration.--This paragraph expires June 30, 2005;
26 however, any accrued credit carryover that is unused on that
27 date may be used until the expiration of the 3-year carryover
28 period for such credit.
29 Section 6. Paragraph (b) of subsection (2) of section
30 624.5105, Florida Statutes, is amended to read:
31 624.5105 Community contribution tax credit;
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SENATE AMENDMENT
Bill No. CS for SB 2492
Amendment No. ___ Barcode 593630
1 authorization; limitations; eligibility and application
2 requirements; administration; definitions; expiration.--
3 (2) ELIGIBILITY REQUIREMENTS.--
4 (b)1. Each community contribution must be reserved
5 exclusively for use in a project as defined in s.
6 220.03(1)(t).
7 2. Within the first 6 months of the fiscal year, no
8 more than 50 percent of the annual tax credits may be approved
9 for donations made to approved sponsors for projects that
10 provide housing for low-income or very-low-income households
11 as defined in s. 420.9071(19) and (28).
12
13 If less than 50 percent of the annual tax credits for
14 donations made to approved sponsors for projects other than
15 those for low-income and very-low-income households are
16 approved within the first 6 months of the fiscal year, the
17 Office of Tourism, Trade, and Economic Development may approve
18 the balance of tax credits for donations made to approved
19 sponsors for projects that provide housing for low-income or
20 very-low-income households.
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22 (Redesignate subsequent sections.)
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25 ================ T I T L E A M E N D M E N T ===============
26 And the title is amended as follows:
27 On page 1, line 26, after the semicolon,
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29 insert:
30 amending ss. 220.183, 212.08, 624.5105, F.S.;
31 requiring that no more than 50 percent of the
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SENATE AMENDMENT
Bill No. CS for SB 2492
Amendment No. ___ Barcode 593630
1 available annual tax credits may be granted for
2 low-income and very-low-income households,
3 under certain conditions, in order to be
4 eligible for a community contribution tax
5 credit;
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