1 | The Committee on Commerce recommends the following: |
2 |
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3 | Committee Substitute |
4 | Remove the entire bill and insert: |
5 | A bill to be entitled |
6 | An act relating to economic stimulus; amending s. 212.08, |
7 | F.S.; revising sales price criteria for characterizing |
8 | business property; conforming provisions to the designated |
9 | urban job tax credit revision; amending s. 212.097, F.S.; |
10 | revising provisions providing for an urban job tax credit |
11 | program to apply to designated urban job tax credit areas |
12 | rather than high crime areas; revising and providing |
13 | definitions, eligibility criteria, application procedures |
14 | and requirements, and area characteristics and criteria; |
15 | authorizing transfer of unused credits under the Rural Job |
16 | Tax Credit Program; specifying use of transferred credits; |
17 | prohibiting transfer of transferred credits; amending s. |
18 | 212.098, F.S.; authorizing transfer of unused credits |
19 | under the Rural Job Tax Credit Program; specifying use of |
20 | transferred credits; prohibiting transfer of transferred |
21 | credits; amending s. 220.1895, F.S.; conforming provisions |
22 | to amendments to urban job tax credit areas program |
23 | provisions; removing a historical reference; amending s. |
24 | 288.095, F.S.; deleting a report requirement relating to |
25 | the Economic Development Incentives Account; amending s. |
26 | 288.1045, F.S.; extending an expiration date for the tax |
27 | refund program for qualified defense contractors; |
28 | preserving the effect of certain tax refund agreements |
29 | after the expiration date; amending s. 288.106, F.S.; |
30 | extending an expiration date for the tax refund program |
31 | for qualified target industry businesses; preserving the |
32 | effect of certain tax refund agreements after the |
33 | expiration date; amending s. 288.901, F.S.; revising |
34 | operational criteria of members of the board of directors |
35 | of Enterprise Florida, Inc.; amending s. 288.90151, F.S.; |
36 | revising requirements, criteria, and limitations for |
37 | returns on investment from activities of Enterprise |
38 | Florida, Inc.; amending s. 288.903, F.S.; deleting an |
39 | employment compensation limitation for employees of |
40 | Enterprise Florida, Inc.; amending s. 288.904, F.S.; |
41 | revising limitations on contractual powers of the board of |
42 | directors of Enterprise Florida, Inc.; amending s. |
43 | 288.905, F.S.; revising a pay raise or bonus limitation |
44 | for certain employees; amending s. 288.9515, F.S.; |
45 | revising and clarifying powers of Enterprise Florida, |
46 | Inc., to develop authorized technology development |
47 | programs; specifying uses of moneys in the Florida |
48 | Technology Research Investment Fund; providing for payment |
49 | of certain claims from the fund; revising limitations on |
50 | revenues from certain investments used for operating |
51 | expenses associated with the Florida Technology Research |
52 | Investment Fund and the Florida Small Business Technology |
53 | Growth Program; requiring Enterprise Florida, Inc., to |
54 | coordinate with certain organizations to develop a |
55 | statewide entrepreneurial growth stimulation strategy; |
56 | providing criteria; amending s. 288.99, F.S.; conforming |
57 | provisions to the designated urban job tax credit |
58 | revision; repealing s. 288.041(3) and (4), F.S., relating |
59 | to Enterprise Florida, Inc., and the Department of |
60 | Commerce assisting in expanding the solar energy industry |
61 | in this state; repealing s. 288.8155, F.S., relating to |
62 | the International Trade Data Resource and Research Center; |
63 | repealing s. 288.9015(3), F.S., relating to Enterprise |
64 | Florida, Inc., responsibility to develop a comprehensive |
65 | approach to workforce development; repealing s. 288.9517, |
66 | F.S., relating to audits of the technology development |
67 | board and programs or entities created by the board; |
68 | repealing s. 14, ch. 93-187, Laws of Florida, relating to |
69 | the December 31, 2003, repeal of Enterprise Florida |
70 | Innovation Partnership provisions; providing effective |
71 | dates. |
72 |
|
73 | Be It Enacted by the Legislature of the State of Florida: |
74 |
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75 | Section 1. Paragraphs (h) and (o) of subsection (5) of |
76 | section 212.08, Florida Statutes, are amended to read: |
77 | 212.08 Sales, rental, use, consumption, distribution, and |
78 | storage tax; specified exemptions.--The sale at retail, the |
79 | rental, the use, the consumption, the distribution, and the |
80 | storage to be used or consumed in this state of the following |
81 | are hereby specifically exempt from the tax imposed by this |
82 | chapter. |
83 | (5) EXEMPTIONS; ACCOUNT OF USE.-- |
84 | (h) Business property used in an enterprise zone.-- |
85 | 1. Business property purchased for use by businesses |
86 | located in an enterprise zone which is subsequently used in an |
87 | enterprise zone shall be exempt from the tax imposed by this |
88 | chapter. This exemption inures to the business only through a |
89 | refund of previously paid taxes. A refund shall be authorized |
90 | upon an affirmative showing by the taxpayer to the satisfaction |
91 | of the department that the requirements of this paragraph have |
92 | been met. |
93 | 2. To receive a refund, the business must file under oath |
94 | with the governing body or enterprise zone development agency |
95 | having jurisdiction over the enterprise zone where the business |
96 | is located, as applicable, an application which includes: |
97 | a. The name and address of the business claiming the |
98 | refund. |
99 | b. The identifying number assigned pursuant to s. 290.0065 |
100 | to the enterprise zone in which the business is located. |
101 | c. A specific description of the property for which a |
102 | refund is sought, including its serial number or other permanent |
103 | identification number. |
104 | d. The location of the property. |
105 | e. The sales invoice or other proof of purchase of the |
106 | property, showing the amount of sales tax paid, the date of |
107 | purchase, and the name and address of the sales tax dealer from |
108 | whom the property was purchased. |
109 | f. Whether the business is a small business as defined by |
110 | s. 288.703(1). |
111 | g. If applicable, the name and address of each permanent |
112 | employee of the business, including, for each employee who is a |
113 | resident of an enterprise zone, the identifying number assigned |
114 | pursuant to s. 290.0065 to the enterprise zone in which the |
115 | employee resides. |
116 | 3. Within 10 working days after receipt of an application, |
117 | the governing body or enterprise zone development agency shall |
118 | review the application to determine if it contains all the |
119 | information required pursuant to subparagraph 2. and meets the |
120 | criteria set out in this paragraph. The governing body or agency |
121 | shall certify all applications that contain the information |
122 | required pursuant to subparagraph 2. and meet the criteria set |
123 | out in this paragraph as eligible to receive a refund. If |
124 | applicable, the governing body or agency shall also certify if |
125 | 20 percent of the employees of the business are residents of an |
126 | enterprise zone, excluding temporary and part-time employees. |
127 | The certification shall be in writing, and a copy of the |
128 | certification shall be transmitted to the executive director of |
129 | the Department of Revenue. The business shall be responsible for |
130 | forwarding a certified application to the department within the |
131 | time specified in subparagraph 4. |
132 | 4. An application for a refund pursuant to this paragraph |
133 | must be submitted to the department within 6 months after the |
134 | tax is due on the business property that is purchased. |
135 | 5. The provisions of s. 212.095 do not apply to any refund |
136 | application made pursuant to this paragraph. The amount refunded |
137 | on purchases of business property under this paragraph shall be |
138 | the lesser of 97 percent of the sales tax paid on such business |
139 | property or $5,000, or, if no less than 20 percent of the |
140 | employees of the business are residents of an enterprise zone, |
141 | excluding temporary and part-time employees, the amount refunded |
142 | on purchases of business property under this paragraph shall be |
143 | the lesser of 97 percent of the sales tax paid on such business |
144 | property or $10,000. A refund approved pursuant to this |
145 | paragraph shall be made within 30 days of formal approval by the |
146 | department of the application for the refund. No refund shall be |
147 | granted under this paragraph unless the amount to be refunded |
148 | exceeds $100 in sales tax paid on purchases made within a 60-day |
149 | time period. |
150 | 6. The department shall adopt rules governing the manner |
151 | and form of refund applications and may establish guidelines as |
152 | to the requisites for an affirmative showing of qualification |
153 | for exemption under this paragraph. |
154 | 7. If the department determines that the business property |
155 | is used outside an enterprise zone within 3 years from the date |
156 | of purchase, the amount of taxes refunded to the business |
157 | purchasing such business property shall immediately be due and |
158 | payable to the department by the business, together with the |
159 | appropriate interest and penalty, computed from the date of |
160 | purchase, in the manner provided by this chapter. |
161 | Notwithstanding this subparagraph, business property used |
162 | exclusively in: |
163 | a. Licensed commercial fishing vessels, |
164 | b. Fishing guide boats, or |
165 | c. Ecotourism guide boats |
166 |
|
167 | that leave and return to a fixed location within an area |
168 | designated under s. 370.28 are eligible for the exemption |
169 | provided under this paragraph if all requirements of this |
170 | paragraph are met. Such vessels and boats must be owned by a |
171 | business that is eligible to receive the exemption provided |
172 | under this paragraph. This exemption does not apply to the |
173 | purchase of a vessel or boat. |
174 | 8. The department shall deduct an amount equal to 10 |
175 | percent of each refund granted under the provisions of this |
176 | paragraph from the amount transferred into the Local Government |
177 | Half-cent Sales Tax Clearing Trust Fund pursuant to s. 212.20 |
178 | for the county area in which the business property is located |
179 | and shall transfer that amount to the General Revenue Fund. |
180 | 9. For the purposes of this exemption, "business property" |
181 | means new or used property defined as "recovery property" in s. |
182 | 168(c) of the Internal Revenue Code of 1954, as amended, except: |
183 | a. Property classified as 3-year property under s. |
184 | 168(c)(2)(A) of the Internal Revenue Code of 1954, as amended.; |
185 | b. Industrial machinery and equipment as defined in sub- |
186 | subparagraph (b)6.a. and eligible for exemption under paragraph |
187 | (b).; |
188 | c. Building materials as defined in sub-subparagraph |
189 | (g)8.a.; and |
190 | d. Business property having a sales price of under $500 |
191 | $5,000 per unit. |
192 | 10. The provisions of this paragraph shall expire and be |
193 | void on December 31, 2005. |
194 | (o) Building materials in redevelopment projects.-- |
195 | 1. As used in this paragraph, the term: |
196 | a. "Building materials" means tangible personal property |
197 | that becomes a component part of a housing project or a mixed- |
198 | use project. |
199 | b. "Housing project" means the conversion of an existing |
200 | manufacturing or industrial building to housing units in a |
201 | designated an urban job tax credit high-crime area, enterprise |
202 | zone, empowerment zone, Front Porch Community, designated |
203 | brownfield area, or urban infill area and in which the developer |
204 | agrees to set aside at least 20 percent of the housing units in |
205 | the project for low-income and moderate-income persons or the |
206 | construction in a designated brownfield area of affordable |
207 | housing for persons described in s. 420.0004(9), (10), or (14), |
208 | or in s. 159.603(7). |
209 | c. "Mixed-use project" means the conversion of an existing |
210 | manufacturing or industrial building to mixed-use units that |
211 | include artists' studios, art and entertainment services, or |
212 | other compatible uses. A mixed-use project must be located in |
213 | designated an urban job tax credit high-crime area, enterprise |
214 | zone, empowerment zone, Front Porch Community, designated |
215 | brownfield area, or urban infill area, and the developer must |
216 | agree to set aside at least 20 percent of the square footage of |
217 | the project for low-income and moderate-income housing. |
218 | d. "Substantially completed" has the same meaning as |
219 | provided in s. 192.042(1). |
220 | 2. Building materials used in the construction of a |
221 | housing project or mixed-use project are exempt from the tax |
222 | imposed by this chapter upon an affirmative showing to the |
223 | satisfaction of the department that the requirements of this |
224 | paragraph have been met. This exemption inures to the owner |
225 | through a refund of previously paid taxes. To receive this |
226 | refund, the owner must file an application under oath with the |
227 | department which includes: |
228 | a. The name and address of the owner. |
229 | b. The address and assessment roll parcel number of the |
230 | project for which a refund is sought. |
231 | c. A copy of the building permit issued for the project. |
232 | d. A certification by the local building code inspector |
233 | that the project is substantially completed. |
234 | e. A sworn statement, under penalty of perjury, from the |
235 | general contractor licensed in this state with whom the owner |
236 | contracted to construct the project, which statement lists the |
237 | building materials used in the construction of the project and |
238 | the actual cost thereof, and the amount of sales tax paid on |
239 | these materials. If a general contractor was not used, the owner |
240 | shall provide this information in a sworn statement, under |
241 | penalty of perjury. Copies of invoices evidencing payment of |
242 | sales tax must be attached to the sworn statement. |
243 | 3. An application for a refund under this paragraph must |
244 | be submitted to the department within 6 months after the date |
245 | the project is deemed to be substantially completed by the local |
246 | building code inspector. Within 30 working days after receipt of |
247 | the application, the department shall determine if it meets the |
248 | requirements of this paragraph. A refund approved pursuant to |
249 | this paragraph shall be made within 30 days after formal |
250 | approval of the application by the department. The provisions of |
251 | s. 212.095 do not apply to any refund application made under |
252 | this paragraph. |
253 | 4. The department shall establish by rule an application |
254 | form and criteria for establishing eligibility for exemption |
255 | under this paragraph. |
256 | 5. The exemption shall apply to purchases of materials on |
257 | or after July 1, 2000. |
258 | Section 2. Section 212.097, Florida Statutes, is amended |
259 | to read: |
260 | 212.097 Designated Urban High-Crime Area Job Tax Credit |
261 | Area Program.-- |
262 | (1) As used in this section, the term: |
263 | (a) "Eligible business" means any sole proprietorship, |
264 | firm, partnership, or corporation that is located in a |
265 | designated urban job tax credit area qualified county and is |
266 | predominantly engaged in, or is headquarters for a business |
267 | predominantly engaged in, activities usually provided for |
268 | consideration by firms classified within the following standard |
269 | industrial classifications: SIC 01-SIC 09 (agriculture, |
270 | forestry, and fishing); SIC 20-SIC 39 (manufacturing); SIC 52- |
271 | SIC 57 and SIC 59 (retail); SIC 422 (public warehousing and |
272 | storage); SIC 70 (hotels and other lodging places); SIC 7391 |
273 | (research and development); SIC 781 (motion picture production |
274 | and allied services); SIC 7992 (public golf courses); and SIC |
275 | 7996 (amusement parks); and a targeted industry eligible for the |
276 | qualified target industry business tax refund under s. 288.106. |
277 | A call center or similar customer service operation that |
278 | services a multistate market or international market is also an |
279 | eligible business. In addition, the Office of Tourism, Trade, |
280 | and Economic Development may, as part of its final budget |
281 | request submitted pursuant to s. 216.023, recommend additions to |
282 | or deletions from the list of standard industrial |
283 | classifications used to determine an eligible business, and the |
284 | Legislature may implement such recommendations. Excluded from |
285 | eligible receipts are receipts from retail sales, except such |
286 | receipts for SIC 52-SIC 57 and SIC 59 (retail) hotels and other |
287 | lodging places classified in SIC 70, public golf courses in SIC |
288 | 7992, and amusement parks in SIC 7996. For purposes of this |
289 | paragraph, the term "predominantly" means that more than 50 |
290 | percent of the business's gross receipts from all sources is |
291 | generated by those activities usually provided for consideration |
292 | by firms in the specified standard industrial classification. |
293 | The determination of whether the business is located in a |
294 | designated urban job tax credit qualified high-crime area and |
295 | the tier ranking of that area must be based on the date of |
296 | application for the credit under this section. Commonly owned |
297 | and controlled entities are to be considered a single business |
298 | entity. |
299 | (b) "Qualified employee" means any employee of an eligible |
300 | business who performs duties in connection with the operations |
301 | of the business on a regular, full-time basis for an average of |
302 | at least 36 hours per week for at least 3 months within the |
303 | designated urban job tax credit qualified high-crime area in |
304 | which the eligible business is located. An owner or partner of |
305 | the eligible business is not a qualified employee. The term also |
306 | includes an employee leased from an employee leasing company |
307 | licensed under chapter 468, if such employee has been |
308 | continuously leased to the employer for an average of at least |
309 | 36 hours per week for more than 6 months. |
310 | (c) "New business" means any eligible business first |
311 | beginning operation on a site in a designated urban job tax |
312 | credit qualified high-crime area and clearly separate from any |
313 | other commercial or business operation of the business entity |
314 | within a designated urban job tax credit qualified high-crime |
315 | area. A business entity that operated an eligible business |
316 | within a designated urban job tax credit qualified high-crime |
317 | area within the 48 months before the period provided for |
318 | application by subsection (2) is not considered a new business. |
319 | (d) "Existing business" means any eligible business that |
320 | does not meet the criteria for a new business. |
321 | (e) "Designated urban job tax credit Qualified high-crime |
322 | area" means an area selected by the Office of Tourism, Trade, |
323 | and Economic Development in the following manner: every third |
324 | year, the office shall rank and tier those areas nominated under |
325 | subsection (7), according to the highest level of distress |
326 | experienced in the categories enumerated under subsection (7). |
327 | The Office of Tourism, Trade, and Economic Development shall |
328 | designate the 30 highest-distress-profile urban areas as |
329 | eligible participants under the urban job tax credit program. |
330 | following prioritized criteria: |
331 | 1. Highest arrest rates within the geographic area for |
332 | violent crime and for such other crimes as drug sale, drug |
333 | possession, prostitution, vandalism, and civil disturbances; |
334 | 2. Highest reported crime volume and rate of specific |
335 | property crimes such as business and residential burglary, motor |
336 | vehicle theft, and vandalism; |
337 | 3. Highest percentage of reported index crimes that are |
338 | violent in nature; |
339 | 4. Highest overall index crime volume for the area; and |
340 | 5. Highest overall index crime rate for the geographic |
341 | area. |
342 |
|
343 | Tier-one areas are ranked 1 through 5 and represent the highest |
344 | crime areas according to this ranking. Tier-two areas are ranked |
345 | 6 through 10 according to this ranking. Tier-three areas are |
346 | ranked 11 through 15. Notwithstanding this definition, |
347 | "designated urban job tax credit qualified high-crime area" also |
348 | means an area that has been designated as a federal Empowerment |
349 | Zone pursuant to the Taxpayer Relief Act of 1997 or the |
350 | Community Tax Relief Act of 2000. Such a designated area is |
351 | ranked in tier three until the areas are reevaluated by the |
352 | Office of Tourism, Trade, and Economic Development. |
353 | (f) "Central business district" means an area comprised of |
354 | at least 80 percent commercial and government buildings and |
355 | properties; characterized by a high concentration of retail |
356 | businesses, service businesses, offices, theaters, and hotels; |
357 | and located in a Department of Transportation urban service |
358 | area. |
359 | (g) "Urban" means a densely populated nonrural area |
360 | located within an urban county which consists of a cluster of |
361 | one or more census blocks, each of which has a population |
362 | density of at least 400 people per square mile, or an area |
363 | defined by the most recent United States Census as urban. |
364 | (2) A new eligible business may apply for a tax credit |
365 | under this subsection once at any time during its first year of |
366 | operation. A new eligible business in a designated urban job tax |
367 | credit tier-one qualified high-crime area which has at least 10 |
368 | qualified employees on the date of application shall receive a |
369 | $1,500 tax credit for each such employee. A new eligible |
370 | business in a tier-two qualified high-crime area which has at |
371 | least 20 qualified employees on the date of application shall |
372 | receive a $1,000 tax credit for each such employee. A new |
373 | eligible business in a tier-three qualified high-crime area |
374 | which has at least 30 qualified employees on the date of |
375 | application shall receive a $500 tax credit for each such |
376 | employee. |
377 | (3) An existing eligible business may apply for a tax |
378 | credit under this subsection at any time it is entitled to such |
379 | credit, except as restricted by this subsection. An existing |
380 | eligible business in a designated urban job tax credit tier-one |
381 | qualified high-crime area which on the date of application has |
382 | at least 5 more qualified employees than it had 1 year prior to |
383 | its date of application shall receive a $1,500 tax credit for |
384 | each such additional employee. An existing eligible business in |
385 | a tier-two qualified high-crime area which on the date of |
386 | application has at least 10 more qualified employees than it had |
387 | 1 year prior to its date of application shall receive a $1,000 |
388 | credit for each such additional employee. An existing business |
389 | in a tier-three qualified high-crime area which on the date of |
390 | application has at least 15 more qualified employees than it had |
391 | 1 year prior to its date of application shall receive a $500 tax |
392 | credit for each such additional employee. An existing eligible |
393 | business may apply for the credit under this subsection no more |
394 | than once in any 12-month period. Any existing eligible business |
395 | that received a credit under subsection (2) may not apply for |
396 | the credit under this subsection sooner than 12 months after the |
397 | application date for the credit under subsection (2). |
398 | (4) For any new eligible business receiving a credit |
399 | pursuant to subsection (2), an additional $500 credit shall be |
400 | provided for any qualified employee who is a welfare transition |
401 | program participant. For any existing eligible business |
402 | receiving a credit pursuant to subsection (3), an additional |
403 | $500 credit shall be provided for any qualified employee who is |
404 | a welfare transition program participant. Such employee must be |
405 | employed on the application date and have been employed less |
406 | than 1 year. This credit shall be in addition to other credits |
407 | pursuant to this section regardless of the tier-level of the |
408 | high-crime area. Appropriate documentation concerning the |
409 | eligibility of an employee for this credit must be submitted as |
410 | determined by the department. |
411 | (5) To be eligible for a tax credit under subsection (3), |
412 | the number of qualified employees employed 1 year prior to the |
413 | application date must be no lower than the number of qualified |
414 | employees on the application date on which a credit under this |
415 | section was based for any previous application, including an |
416 | application under subsection (2). |
417 | (6) Any county or municipality, or a county and one or |
418 | more municipalities together, may apply to the Office of |
419 | Tourism, Trade, and Economic Development for the designation of |
420 | an area as a designated urban job tax credit high-crime area |
421 | after the adoption by the governing body or bodies of a |
422 | resolution that: |
423 | (a) Finds that an urban a high-crime area exists in such |
424 | county or municipality, or in both the county and one or more |
425 | municipalities, which chronically exhibits extreme and |
426 | unacceptable levels of poverty, unemployment, physical |
427 | deterioration, and economic disinvestment; |
428 | (b) Determines that the rehabilitation, conservation, or |
429 | redevelopment, or a combination thereof, of such an urban a |
430 | high-crime area is necessary in the interest of the health, |
431 | safety, and welfare of the residents of such county or |
432 | municipality, or such county and one or more municipalities; and |
433 | (c) Determines that the revitalization of such an urban a |
434 | high-crime area can occur if the public sector or private sector |
435 | can be induced to invest its own resources in productive |
436 | enterprises that build or rebuild the economic viability of the |
437 | area. |
438 | (7) The governing body of the entity nominating the area |
439 | shall demonstrate provide to the Office of Tourism, Trade, and |
440 | Economic Development that the area meets the following: |
441 | (a) Income characteristics: |
442 | 1. Forty percent of area residents are earning wages on an |
443 | annual basis that are equal to or less than the annual wage of a |
444 | person who is earning minimum wage; or |
445 | 2. More than 20 percent of residents or families live |
446 | below the federal standard of poverty for individuals or a |
447 | family of four. The overall index crime rate for the geographic |
448 | area; |
449 | (b) Education characteristics: |
450 | 1. Has a high school dropout rate higher than the county |
451 | average; or |
452 | 2. Has a high school graduation rate lower than the state |
453 | average. The overall index crime volume for the area; |
454 | (c) Workforce and employment characteristics: |
455 | 1. Has an unemployment rate at least 3 percentage points |
456 | higher than the state's unemployment rate; |
457 | 2. More than 50 percent of families subject to the |
458 | welfare-to-work transition time limit are either within 6 months |
459 | of the time limit or are receiving cash assistance under a |
460 | period of hardship extension to the time limit; or |
461 | 3. Is identified as a labor surplus area using the |
462 | criteria established by the United States Department of Labor's |
463 | Employment and Training Administration. The percentage of |
464 | reported index crimes that are violent in nature; |
465 | (d) Crime characteristics: |
466 | 1. Has an arrest rate higher than the state's average rate |
467 | for such crimes as drug sale, drug possession, prostitution, |
468 | vandalism, and civil disturbances, as recorded by total crime |
469 | index of the Department of Law Enforcement; or |
470 | 2. Ranks in the top 30 percent of zip codes with reported |
471 | crimes that are violent in nature. The reported crime volume and |
472 | rate of specific property crimes such as business and |
473 | residential burglary, motor vehicle theft, and vandalism; and |
474 | (e) Residential and commercial property related |
475 | characteristics: |
476 | 1. Fifty percent or more of area residents rent; or |
477 | 2.a. Property values are within the lower 50 percent of |
478 | the county's assessed property values; |
479 | b. More than 5 percent of area homes, apartments, or |
480 | buildings are abandoned, have been condemned within the previous |
481 | 24 months, or have a greater number of violations of the Florida |
482 | Building Code than recorded in the remainder of the county or |
483 | municipality; or |
484 | c. Tax or special assessment delinquencies exceed the fair |
485 | value of the land The arrest rates within the geographic area |
486 | for violent crime and for such other crimes as drug sale, drug |
487 | possession, prostitution, disorderly conduct, vandalism, and |
488 | other public-order offenses. |
489 | (8) A municipality, or a county and one or more |
490 | municipalities together, may not nominate more than one urban |
491 | high-crime area. However, any county as defined by s. 125.011(1) |
492 | may nominate no more than three urban high-crime areas. |
493 | (9)(a) An area nominated by a county or municipality, or a |
494 | county and one or more municipalities together, for designation |
495 | as a designated urban job tax credit high-crime area shall be |
496 | eligible only if it meets the following criteria: |
497 | 1.(a) The selected area does not exceed 20 square miles |
498 | and either has a continuous boundary or consists of not more |
499 | than three noncontiguous parcels.; |
500 | 2.(b) The selected area does not exceed the following |
501 | mileage limitation: |
502 | a.1. For areas communities having a total population of |
503 | 150,000 persons or more, the selected area does not exceed 20 |
504 | square miles and is within 10 miles of the central business |
505 | district of a city. |
506 | b.2. For areas communities having a total population of |
507 | 50,000 persons or more, but fewer than 150,000 persons, the |
508 | selected area does not exceed 10 square miles and is within 7.5 |
509 | miles of the central business district of a city. |
510 | c.3. For areas communities having a total population of |
511 | 20,000 persons or more, but fewer than 50,000 persons, the |
512 | selected area does not exceed 5 square miles and is within 5 |
513 | miles of the central business district of a city. |
514 | d.4. For areas communities having a total population of |
515 | fewer than 20,000 persons, the selected area does not exceed 3 |
516 | square miles and is within 3 miles of the central business |
517 | district of a city. |
518 | (b) A designated urban job tax credit area may not include |
519 | any portion of a central business district, unless the poverty |
520 | rate for each census geographic block group in the district is |
521 | not less than 30 percent. |
522 | (10)(a) In order to claim this credit, an eligible |
523 | business must file under oath with the Office of Tourism, Trade, |
524 | and Economic Development a statement that includes the name and |
525 | address of the eligible business and any other information that |
526 | is required to process the application. |
527 | (b) Within 30 working days after receipt of an application |
528 | for credit, the Office of Tourism, Trade, and Economic |
529 | Development shall review the application to determine whether it |
530 | contains all the information required by this subsection and |
531 | meets the criteria set out in this section. Subject to the |
532 | provisions of paragraph (c), the Office of Tourism, Trade, and |
533 | Economic Development shall approve all applications that contain |
534 | the information required by this subsection and meet the |
535 | criteria set out in this section as eligible to receive a |
536 | credit. |
537 | (c) The maximum credit amount that may be approved during |
538 | any calendar year is $5 million, of which $1 million shall be |
539 | exclusively reserved for tier-one areas. The Department of |
540 | Revenue, in conjunction with the Office of Tourism, Trade, and |
541 | Economic Development, shall notify the governing bodies in areas |
542 | designated under this section as urban high-crime areas when the |
543 | $5 million maximum amount has been reached. Applications must be |
544 | considered for approval in the order in which they are received |
545 | without regard to whether the credit is for a new or existing |
546 | business. This limitation applies to the value of the credit as |
547 | contained in approved applications. Approved credits may be |
548 | taken in the time and manner allowed pursuant to this section. |
549 | (11) If the application is insufficient to support the |
550 | credit authorized in this section, the Office of Tourism, Trade, |
551 | and Economic Development shall deny the credit and notify the |
552 | business of that fact. The business may reapply for this credit |
553 | within 3 months after such notification. |
554 | (12) If the credit under this section is greater than can |
555 | be taken on a single tax return, excess amounts may be taken as |
556 | credits on any tax return submitted within 12 months after the |
557 | approval of the application by the department. |
558 | (13) It is the responsibility of each business to |
559 | affirmatively demonstrate to the satisfaction of the Department |
560 | of Revenue that it meets the requirements of this section. |
561 | (14) Any person who fraudulently claims this credit is |
562 | liable for repayment of the credit plus a mandatory penalty of |
563 | 100 percent of the credit and is guilty of a misdemeanor of the |
564 | second degree, punishable as provided in s. 775.082 or s. |
565 | 775.083. |
566 | (15) A corporation may take the credit under this section |
567 | against its corporate income tax liability, as provided in s. |
568 | 220.1895. However, a corporation that applies its job tax credit |
569 | against the tax imposed by chapter 220 may not receive the |
570 | credit provided for in this section. A credit may be taken |
571 | against only one tax. |
572 | (16) An eligible business may transfer any unused credit |
573 | in whole or in units of no less than 25 percent of the remaining |
574 | credit. The entity acquiring such credit may use it in the same |
575 | manner and with the same limitation as described in this |
576 | section. Such transferred credits may not be transferred again |
577 | although they may succeed to a surviving or acquiring entity |
578 | subject to the same conditions and limitations described in this |
579 | section. |
580 | (17)(16) The department shall adopt rules governing the |
581 | manner and form of applications for credit or transfers of |
582 | credit and may establish guidelines concerning the requisites |
583 | for an affirmative showing of qualification for the credit under |
584 | this section. |
585 | Section 3. Subsection (12) of section 212.098, Florida |
586 | Statutes, is renumbered as subsection (13), and a new subsection |
587 | (12) is added to said section to read: |
588 | 212.098 Rural Job Tax Credit Program.-- |
589 | (12) An eligible business may transfer any unused credit |
590 | in whole or in units of not less than 25 percent of the |
591 | remaining credit. The entity acquiring such credit may use it in |
592 | the same manner and with the same limitation as described in |
593 | this section. Such transferred credits may not be transferred |
594 | again although they may succeed to a surviving or acquiring |
595 | entity subject to the same conditions and limitations described |
596 | in this section. |
597 | Section 4. Section 220.1895, Florida Statutes, is amended |
598 | to read: |
599 | 220.1895 Rural Job Tax Credit and Designated Urban High- |
600 | Crime Area Job Tax Credit Area.--There shall be allowed a credit |
601 | against the tax imposed by this chapter amounts approved by the |
602 | Office of Tourism, Trade, and Economic Development pursuant to |
603 | the Rural Job Tax Credit Program in s. 212.098 and the |
604 | Designated Urban High-Crime Area Job Tax Credit Area Program in |
605 | s. 212.097. A corporation that uses its credit against the tax |
606 | imposed by this chapter may not take the credit against the tax |
607 | imposed by chapter 212. If any credit granted under this section |
608 | is not fully used in the first year for which it becomes |
609 | available, the unused amount may be carried forward for a period |
610 | not to exceed 5 years. The carryover may be used in a subsequent |
611 | year when the tax imposed by this chapter for such year exceeds |
612 | the credit for such year under this section after applying the |
613 | other credits and unused credit carryovers in the order provided |
614 | in s. 220.02(8). The Office of Tourism, Trade, and Economic |
615 | Development shall conduct a review of the Urban High-Crime Area |
616 | Job Tax Credit and the Rural Job Tax Credit Program and submit |
617 | its report to the Governor, the President of the Senate, and the |
618 | Speaker of the House of Representatives by February 1, 2000. |
619 | Section 5. Paragraph (c) of subsection (3) of section |
620 | 288.095, Florida Statutes, is amended to read: |
621 | 288.095 Economic Development Trust Fund.-- |
622 | (3) |
623 | (c) By December 31 of each year, Enterprise Florida, Inc., |
624 | shall submit a complete and detailed report to the Governor, the |
625 | President of the Senate, the Speaker of the House of |
626 | Representatives, and the director of the Office of Tourism, |
627 | Trade, and Economic Development of all applications received, |
628 | recommendations made to the Office of Tourism, Trade, and |
629 | Economic Development, final decisions issued, tax refund |
630 | agreements executed, and tax refunds paid or other payments made |
631 | under all programs funded out of the Economic Development |
632 | Incentives Account, including analyses of benefits and costs, |
633 | types of projects supported, and employment and investment |
634 | created. Enterprise Florida, Inc., shall also include a separate |
635 | analysis of the impact of such tax refunds on state enterprise |
636 | zones designated pursuant to s. 290.0065, rural communities, |
637 | brownfield areas, and distressed urban communities. The report |
638 | must discuss whether the authority and moneys appropriated by |
639 | the Legislature to the Economic Development Incentives Account |
640 | were managed and expended in a prudent, fiducially sound manner. |
641 | The Office of Tourism, Trade, and Economic Development shall |
642 | assist Enterprise Florida, Inc., in the collection of data |
643 | related to business performance and incentive payments. |
644 | Section 6. Subsection (7) of section 288.1045, Florida |
645 | Statutes, is amended to read: |
646 | 288.1045 Qualified defense contractor tax refund |
647 | program.-- |
648 | (7) EXPIRATION.--An applicant may not be certified as |
649 | qualified under this section after June 30, 2009 2004. However, |
650 | a tax refund agreement that is in effect on that date shall |
651 | continue in effect in accordance with its terms. |
652 | Section 7. Subsection (7) of section 288.106, Florida |
653 | Statutes, is amended to read: |
654 | 288.106 Tax refund program for qualified target industry |
655 | businesses.-- |
656 | (7) EXPIRATION.--This section expires June 30, 2009 2004. |
657 | However, a tax refund agreement in effect on that date shall |
658 | continue in effect in accordance with the terms of the |
659 | agreement. |
660 | Section 8. Subsections (7), (8), and (11) of section |
661 | 288.901, Florida Statutes, are amended to read: |
662 | 288.901 Enterprise Florida, Inc.; creation; membership; |
663 | organization; meetings; disclosure.-- |
664 | (7) The Governor shall serve as chairperson of the board |
665 | of directors. The board of directors shall biennially elect one |
666 | of its appointive members as vice chairperson. The president |
667 | shall keep a record of the proceedings of the board of directors |
668 | and is the custodian of all books, documents, and papers filed |
669 | with the board of directors, the minutes of the board of |
670 | directors, and the official seal of Enterprise Florida, Inc. |
671 | (8) The board of directors shall meet at least four times |
672 | each year, upon the call of the chairperson, at the request of |
673 | the vice chairperson, or at the request of a majority of the |
674 | membership. A majority of the total number of current, voting |
675 | all directors fixed by subsection (3) shall constitute a quorum. |
676 | The board of directors may take official action by a majority |
677 | vote of the members present at any meeting at which a quorum is |
678 | present. |
679 | (11) Notwithstanding the provisions of subsection (3), the |
680 | board of directors may by resolution appoint at-large members to |
681 | the board from the private sector, each of whom may serve a 1- |
682 | year term. At-large members shall have the powers and duties of |
683 | other members of the board, except that they may not serve on an |
684 | executive committee. An at-large member is eligible for |
685 | reappointment but may not vote on his or her own reappointment. |
686 | An at-large member shall be eligible to fill vacancies occurring |
687 | among private-sector appointees under subsection (3). |
688 | Section 9. Subsection (1), paragraph (b) of subsection |
689 | (4), and subsections (5), (7), and (8) of section 288.90151, |
690 | Florida Statutes, are amended to read: |
691 | 288.90151 Return on investment from activities of |
692 | Enterprise Florida, Inc.-- |
693 | (1) The public funds appropriated each year for the |
694 | operation of Enterprise Florida, Inc., are invested in this |
695 | public-private partnership to enhance international trade and |
696 | economic development, to spur job-creating investments, and to |
697 | create new employment opportunities for Floridians, and to |
698 | prepare Floridians for those jobs. This policy will be the |
699 | Legislature's priority consideration when reviewing the return- |
700 | on-investment for Enterprise Florida, Inc. |
701 | (4) |
702 | (b) The board of directors of Enterprise Florida, Inc., |
703 | shall adopt for each upcoming fiscal year an operating budget |
704 | for the organization that specifies the intended uses of the |
705 | state's operating investment and a plan for securing private- |
706 | sector support to Enterprise Florida, Inc. Each fiscal year |
707 | private-sector support to Enterprise Florida, Inc., shall equal |
708 | no less than 100 percent of the state's operating investment, |
709 | including at least $1 million in cash as defined in paragraph |
710 | (5)(a), and an additional $400,000 in cash as defined in |
711 | paragraphs (5)(a), (b), and (c). |
712 | (5) Private-sector support in operating Enterprise |
713 | Florida, Inc., includes: |
714 | (a) Cash given directly to Enterprise Florida, Inc., for |
715 | its operations, excluding contributions from grantees or from |
716 | companies with Enterprise Florida, Inc., contracts representing |
717 | more than 5 percent of the value of all Enterprise Florida, |
718 | Inc., contracts, exclusive of grants, or more than 5 percent of |
719 | the company's revenues. Cash in this category is not subject to |
720 | restrictions on the use of appropriated funds. operating budget; |
721 | (b) Cash jointly raised by Enterprise Florida, Inc., and a |
722 | local economic development organization, a group of such |
723 | organizations, or a statewide business organization that |
724 | supports collaborative projects.; |
725 | (c) Cash generated by fees charged for products or |
726 | services of Enterprise Florida, Inc., and by sponsorship of |
727 | events, missions, programs, and publications; and |
728 | (d) In-kind contributions directly to Enterprise Florida, |
729 | Inc., including: business expenditures; business services |
730 | provided; business support; or other business contributions that |
731 | augment the operations, program, activities, or assets of |
732 | Enterprise Florida, Inc., including, but not limited to: an |
733 | individual's time and expertise; sponsored publications; |
734 | private-sector staff services; payment for advertising |
735 | placements; sponsorship of events; sponsored or joint research; |
736 | discounts on leases or purchases; mission or program |
737 | sponsorship; and copayments, stock, warrants, royalties, or |
738 | other private resources dedicated to Enterprise Florida, Inc. |
739 | (7) As part of the annual report required under s. |
740 | 288.906, Enterprise Florida, Inc., shall include a study provide |
741 | the Legislature with information quantifying the public's |
742 | return-on-investment as described in this section for fiscal |
743 | year 1997-1998 and each subsequent fiscal year. The annual |
744 | report shall also include the results of a customer-satisfaction |
745 | survey of businesses served, as well as the lead economic |
746 | development staff person of each primary partner organization |
747 | local economic development organization that employs a full-time |
748 | or part-time staff person. |
749 | (8) Enterprise Florida, Inc., in consultation with the |
750 | Office of Program Policy Analysis and Government Accountability, |
751 | shall hire an economic analysis a private accounting firm to |
752 | develop the methodology for establishing and reporting return- |
753 | on-investment and in-kind contributions as described in this |
754 | section and a firm experienced in survey research to develop, |
755 | analyze, and report on the results of the customer-satisfaction |
756 | survey. The Office of Program Policy Analysis and Government |
757 | Accountability shall review and offer feedback on the |
758 | methodology before it is implemented. The private accounting |
759 | firm shall certify whether the applicable statements in the |
760 | annual report comply with this subsection. |
761 | Section 10. Subsection (3) of section 288.903, Florida |
762 | Statutes, is amended to read: |
763 | 288.903 Board of directors of Enterprise Florida, Inc.; |
764 | president; employees.-- |
765 | (3) The board of directors of Enterprise Florida, Inc., |
766 | and its officers shall be responsible for the prudent use of all |
767 | public and private funds and shall ensure that the use of such |
768 | funds is in accordance with all applicable laws, bylaws, or |
769 | contractual requirements. No employee of Enterprise Florida, |
770 | Inc., may receive compensation for employment which exceeds the |
771 | salary paid to the Governor, unless the board of directors and |
772 | the employee have executed a contract that prescribes specific, |
773 | measurable performance outcomes for the employee, the |
774 | satisfaction of which provides the basis for the award of |
775 | incentive payments that increase the employee's total |
776 | compensation to a level above the salary paid to the Governor. |
777 | Section 11. Paragraph (b) of subsection (1) of section |
778 | 288.904, Florida Statutes, is amended to read: |
779 | 288.904 Powers of the board of directors of Enterprise |
780 | Florida, Inc.-- |
781 | (1) The board of directors of Enterprise Florida, Inc., |
782 | shall have the power to: |
783 | (b)1. Make and enter into contracts and other instruments |
784 | necessary or convenient for the exercise of its powers and |
785 | functions, except that any contract made with an organization |
786 | represented on the board of directors that exceeds 5 percent of |
787 | the total annual amount of contracts of Enterprise Florida, |
788 | Inc., exclusive of grants, or 5 percent of the represented |
789 | organization's annual revenue must be approved by a two-thirds |
790 | vote of the entire board members in attendance at a meeting at |
791 | which a quorum is present of directors, and the board member |
792 | representing such organization shall abstain from voting. No |
793 | more than 65 percent of the dollar value of all contracts or |
794 | other agreements entered into in any fiscal year, exclusive of |
795 | grant programs, shall be made with an organization represented |
796 | on the board of directors. This section does not apply to |
797 | contracts awarded by another entity to an organization |
798 | represented on the board of directors or to contracts if |
799 | Enterprise Florida, Inc., is the recipient of funds from an |
800 | organization represented on the board of directors An |
801 | organization represented on the board may not enter into a |
802 | contract to receive a state-funded economic development |
803 | incentive or similar grant, unless such incentive award is |
804 | specifically endorsed by a two-thirds vote of the entire board. |
805 | The board member representing such organization, if applicable, |
806 | shall abstain from voting and refrain from discussing the issue |
807 | with other members of the board. No more than 50 percent of the |
808 | dollar value of grants issued by the board in any fiscal year |
809 | may go to businesses associated with board members. |
810 | 2. A contract that Enterprise Florida, Inc., executes with |
811 | a person or organization under which such person or organization |
812 | agrees to perform economic development services or similar |
813 | business assistance services on behalf of Enterprise Florida, |
814 | Inc., or on behalf of the state must include provisions |
815 | requiring that such person or organization report on |
816 | performance, account for proper use of funds provided under the |
817 | contract, coordinate with other components of state and local |
818 | economic development systems, and avoid duplication of existing |
819 | state and local services and activities. |
820 | Section 12. Subsection (6) of section 288.905, Florida |
821 | Statutes, is amended to read: |
822 | 288.905 Duties of the board of directors of Enterprise |
823 | Florida, Inc.-- |
824 | (6) Any employee leased by Enterprise Florida, Inc., from |
825 | the state, or any employee who derives his or her salary from |
826 | funds appropriated by the Legislature, may not receive a pay |
827 | raise or bonus in excess of a pay raise or bonus that is |
828 | received by similarly situated state employees. However, this |
829 | subsection does not prohibit the payment of a pay raise or bonus |
830 | from funds received from sources other than the Florida |
831 | Legislature. |
832 | Section 13. Effective July 1, 2004, notwithstanding |
833 | section 80 of chapter 2003-399, Laws of Florida, section |
834 | 288.9515, Florida Statutes, shall not stand repealed on July 1, |
835 | 2004, as scheduled by such law, but said section is reenacted |
836 | and amended to read: |
837 | 288.9515 Authorized technology development programs.-- |
838 | (1) Enterprise Florida, Inc., may create technology |
839 | development and applications services, and may serve as an |
840 | umbrella organization for the coordination of information that |
841 | provides technology applications service providers throughout |
842 | the state which provide critical, managerial, technological, |
843 | scientific, and related financial and business expertise |
844 | essential for international and domestic competitiveness to |
845 | small-sized and medium-sized manufacturing and knowledge-based |
846 | service firms. Enterprise Florida, Inc., is authorized the |
847 | following powers in order to carry out these functions: |
848 | (a) Providing communication and coordination services |
849 | among technology development and applications service providers |
850 | throughout the state. |
851 | (b) Providing coordinated marketing services to small- |
852 | sized and medium-sized manufacturers in the state on behalf of, |
853 | and in partnership with, technology applications service |
854 | providers. |
855 | (b)(c) Securing additional sources of funds on behalf of, |
856 | and in partnership with, technology-based businesses technology |
857 | applications service providers. |
858 | (c)(d) Developing plans and policies to assist small-sized |
859 | and medium-sized manufacturing companies or other knowledge- |
860 | based firms in Florida. |
861 | (e) Entering into contracts with technology applications |
862 | service providers for expanded availability of high-quality |
863 | assistance to small-sized and medium-sized manufacturing |
864 | companies or knowledge-based service firms, including, but not |
865 | limited to, technological, human resources development, market |
866 | planning, finance, and interfirm collaboration. Enterprise |
867 | Florida, Inc., shall ensure that all contracts in excess of |
868 | $20,000 for the delivery of such assistance to Florida firms |
869 | shall be based on competitive requests for proposals and shall |
870 | establish clear standards for the delivery of services under |
871 | such contracts. Such standards include, but are not limited to: |
872 | 1. The ability and capacity to deliver services in |
873 | sufficient quality and quantity. |
874 | 2. The ability and capacity to deliver services in a |
875 | timely manner. |
876 | 3. The ability and capacity to meet the needs of firms in |
877 | the proposed market area. |
878 | (d)(f) Assisting other educational institutions, |
879 | enterprises, or the entities providing business assistance to |
880 | small-sized and medium-sized manufacturing and knowledge-based |
881 | services enterprises. |
882 | (g) Establishing a system to evaluate the effectiveness |
883 | and efficiency of technology applications services provided to |
884 | small-sized and medium-sized enterprises. |
885 | (e)(h) Establishing special education and informational |
886 | programs for Florida enterprises and for educational |
887 | institutions and enterprises providing business assistance to |
888 | Florida enterprises. |
889 | (f)(i) Assisting in evaluating and documenting the needs |
890 | of firms in this state for technology development and |
891 | application services, and developing means to ensure that these |
892 | needs are met, consistent with the powers provided for in this |
893 | subsection. |
894 | (g)(j) Maintaining an office in such place or places as |
895 | the board of directors of Enterprise Florida, Inc., approves. |
896 | (h)(k) Making and executing contracts with any person, |
897 | enterprise, educational institution, association, or any other |
898 | entity necessary or convenient for the performance of its duties |
899 | and the exercise of the powers and functions of Enterprise |
900 | Florida, Inc., under this subsection. |
901 | (i)(l) Receiving funds from any source to carry out the |
902 | purposes of providing technology development and applications |
903 | services, including, but not limited to, gifts or grants from |
904 | any department, agency, or instrumentality of the United States |
905 | or of the state, or any enterprise or person, for any purpose |
906 | consistent with the provisions of this subsection. |
907 | (2) When choosing contractors under this section, |
908 | preference shall be given to existing institutions, |
909 | organizations, and enterprises so long as these existing |
910 | institutions, organizations, and enterprises demonstrate the |
911 | ability to perform at standards established by Enterprise |
912 | Florida, Inc., under paragraph (1)(e). Neither the provisions of |
913 | ss. 288.9511-288.9517 nor the actions taken by Enterprise |
914 | Florida, Inc., under this section shall impair or hinder the |
915 | operations, performance, or resources of any existing |
916 | institution, organization, or enterprise. |
917 | (3) Enterprise Florida, Inc., may create a technology |
918 | development financing fund, to be called the Florida Technology |
919 | Research Investment Fund. The fund shall increase technology |
920 | development in this state by investing in technology development |
921 | projects that have the potential to generate investment-grade |
922 | technologies of importance to the state's economy as evidenced |
923 | by the willingness of private businesses to coinvest in such |
924 | projects. Enterprise Florida, Inc., may also demonstrate and |
925 | develop effective approaches to, and benefits of, commercially |
926 | oriented research collaborations between businesses, |
927 | universities, and state and federal agencies and organizations. |
928 | Enterprise Florida, Inc., shall endeavor to maintain the fund as |
929 | a self-supporting fund once the fund is sufficiently capitalized |
930 | under program guidelines of Enterprise Florida, Inc. as |
931 | reflected in the minimum funding report required in s. 288.9516. |
932 | The technology research investment projects may include, but are |
933 | not limited to: |
934 | (a) Technology development projects expected to lead to a |
935 | specific investment-grade technology that is of importance to |
936 | industry in this state. |
937 | (b) Technology development centers and facilities expected |
938 | to generate a stream of products and processes with commercial |
939 | application of importance to industry in this state. |
940 | (c) Technology development projects that have, or are |
941 | currently using, other federal or state funds such as federal |
942 | Small Business Innovation Research awards. |
943 | (4) Enterprise Florida, Inc., shall invest moneys |
944 | contained in the Florida Technology Research Investment Fund in |
945 | technology application research or for technology development |
946 | projects that have the potential for commercial market |
947 | application. The partnership shall coordinate any investment in |
948 | any space-related technology projects with the Florida Space |
949 | Authority and the Technological Research and Development |
950 | Authority. |
951 | (a) The investment of moneys contained in the Florida |
952 | Technology Research Investment Fund is limited to qualified |
953 | investments in qualified securities in which a private |
954 | enterprise in this state coinvests at least 40 percent of the |
955 | total project costs, in conjunction with other cash or noncash |
956 | investments from state educational institutions, state and |
957 | federal agencies, or other institutions. |
958 | (b) All moneys in the Florida Technology Research |
959 | Investment Fund shall be continuously appropriated to the fund |
960 | and may be used for loan guarantees, letter of credit |
961 | guarantees, cash reserves for loan and letter of credit |
962 | guarantees, payments of claims pursuant to contracts for |
963 | guarantees, subordinated loans, loans with warrants, royalty |
964 | investments, equity investments, and For the purposes of this |
965 | fund, qualified securities include loans, loans convertible to |
966 | equity, equity, loans with warrants attached that are |
967 | beneficially owned by the board, royalty agreements, or any |
968 | other contractual arrangements through which the Florida |
969 | Technology Research Investment Fund receives an interest, right, |
970 | return of funds, or other consideration and may be used for |
971 | operations of the fund. All such uses of moneys in the fund are |
972 | qualified investments. Any claim against the fund or Enterprise |
973 | Florida, Inc., relating to investment of moneys in the fund |
974 | shall be paid solely from the fund. Neither the credit nor the |
975 | taxing power of the state shall be pledged to secure the fund or |
976 | moneys in the fund, other than from moneys appropriated or |
977 | assigned to the fund, and the state shall not be liable or |
978 | obligated in any way for any claims against the fund or against |
979 | Enterprise Florida, Inc. arrangement in which the board is |
980 | providing scientific and technological services to any federal, |
981 | state, county, or municipal agency, or to any individual, |
982 | corporation, enterprise, association, or any other entity |
983 | involving technology development. |
984 | (c) Not more than $175,000 or 5 percent of the revenues |
985 | generated by investment of moneys contained in the Florida |
986 | Technology Research Investment Fund plus 5 percent of the |
987 | revenues generated by investments under the Florida Small |
988 | Business Technology Growth Program under s. 288.95155, whichever |
989 | is greater, may be used on an annual basis to pay the combined |
990 | operating expenses associated with operation of the Florida |
991 | Technology Research Investment Fund and the Florida Small |
992 | Business Technology Growth Program. |
993 | (d) In the event of liquidation or dissolution of |
994 | Enterprise Florida, Inc., or the Florida Technology Research |
995 | Investment Fund, any rights or interests in a qualified security |
996 | or portion of a qualified security purchased with moneys |
997 | invested by the State of Florida shall vest in the state, under |
998 | the control of the State Board of Administration. The state is |
999 | entitled to, in proportion to the amount of investment in the |
1000 | fund by the state, any balance of funds remaining in the Florida |
1001 | Technology Research Investment Fund after payment of all debts |
1002 | and obligations upon liquidation or dissolution of Enterprise |
1003 | Florida, Inc., or the fund. |
1004 | (e) The investment of funds contained in the Florida |
1005 | Technology Research Investment Fund does not constitute a debt, |
1006 | liability, or obligation of the State of Florida or of any |
1007 | political subdivision thereof, or a pledge of the faith and |
1008 | credit of the state or of any such political subdivision. |
1009 | (5) Enterprise Florida, Inc., may create technology |
1010 | commercialization programs in partnership with private |
1011 | enterprises, educational institutions, and other institutions to |
1012 | increase the rate at which technologies with potential |
1013 | commercial application are moved from university, public, and |
1014 | industry laboratories into the marketplace. Such programs shall |
1015 | be created based upon research to be conducted by Enterprise |
1016 | Florida, Inc. |
1017 | (6) Enterprise Florida, Inc., shall coordinate with local |
1018 | and regional economic development organizations to facilitate a |
1019 | statewide entrepreneurship strategy to stimulate the growth of |
1020 | startup businesses and technology innovations in this state. |
1021 | This strategy must include, but need not be limited to, |
1022 | technology transfer coordination, university linkages, |
1023 | entrepreneurial networks and training, and startup capital |
1024 | access, including the formation and growth of individual and |
1025 | business networks that may be willing to invest in startup |
1026 | businesses in this state. |
1027 | Section 14. Subsection (2) of section 288.99, Florida |
1028 | Statutes, is amended to read: |
1029 | 288.99 Certified Capital Company Act.-- |
1030 | (2) PURPOSE.--The primary purpose of this act is to |
1031 | stimulate a substantial increase in venture capital investments |
1032 | in this state by providing an incentive for insurance companies |
1033 | to invest in certified capital companies in this state which, in |
1034 | turn, will make investments in new businesses or in expanding |
1035 | businesses, including minority-owned or minority-operated |
1036 | businesses and businesses located in a designated Front Porch |
1037 | community, enterprise zone, designated urban job tax credit |
1038 | high-crime area, rural job tax credit county, or nationally |
1039 | recognized historic district. The increase in investment capital |
1040 | flowing into new or expanding businesses is intended to |
1041 | contribute to employment growth, create jobs which exceed the |
1042 | average wage for the county in which the jobs are created, and |
1043 | expand or diversify the economic base of this state. |
1044 | Section 15. Subsections (3) and (4) of section 288.041, |
1045 | Florida Statutes, are repealed: |
1046 | 288.041 Solar energy industry; legislative findings and |
1047 | policy; promotional activities.-- |
1048 | (3) Enterprise Florida, Inc., and its boards shall assist |
1049 | in the expansion of the solar energy industry in this state. |
1050 | Such efforts shall be undertaken in cooperation with the |
1051 | Department of Community Affairs, the Florida Solar Energy |
1052 | Center, and the Florida Solar Energy Industries Association, and |
1053 | shall include: |
1054 | (a) Providing assistance and support to new and existing |
1055 | photovoltaic companies, with special emphasis on attracting one |
1056 | or more manufacturers of photovoltaic products to locate within |
1057 | this state. |
1058 | (b) Sponsoring initiatives which aid and take full |
1059 | advantage of the export market potential of solar technologies. |
1060 | (c) Informing the business sector of this state about |
1061 | opportunities for cost-effective commercial applications of |
1062 | solar technologies. |
1063 | (d) Encouraging employment of residents of this state by |
1064 | solar energy companies. |
1065 | (e) Retaining existing solar energy companies and |
1066 | supporting their expansion efforts in this state. |
1067 | (f) Supporting the promotion of solar energy by sponsoring |
1068 | workshops, seminars, conferences, and educational programs on |
1069 | the benefits of solar energy. |
1070 | (g) Recognizing outstanding developments and achievements |
1071 | in, and contributions to, the solar energy industry. |
1072 | (h) Collecting and disseminating solar energy information |
1073 | relevant to the promotion of solar energy applications. |
1074 | (i) Enlisting the support of persons, civic groups, the |
1075 | solar energy industry, and other organizations to promote and |
1076 | improve solar energy products and services. |
1077 | (4) The department shall also promote projects that |
1078 | demonstrate viable applications of solar technology which may |
1079 | include, but shall not be limited to: irrigation and stock |
1080 | watering, process heat for dairy and citrus operations, |
1081 | aquaculture, hydroponics, horticulture, waste detoxification, |
1082 | and other means of meeting the energy needs of the agricultural |
1083 | industry. |
1084 | Section 16. Subsection (3) of section 288.9015, Florida |
1085 | Statutes, is repealed: |
1086 | 288.9015 Enterprise Florida, Inc.; purpose; duties.-- |
1087 | (3) It shall be the responsibility of Enterprise Florida, |
1088 | Inc., through the Workforce Development Board, to develop a |
1089 | comprehensive approach to workforce development that will result |
1090 | in better employment opportunities for the residents of this |
1091 | state. Such comprehensive approach must include: |
1092 | (a) Creating and maintaining a highly skilled workforce |
1093 | that is capable of responding to rapidly changing technology and |
1094 | diversified market opportunities. |
1095 | (b) Training, educating, and assisting target populations, |
1096 | such as those who are economically disadvantaged or who |
1097 | participate in the WAGES Program or otherwise receive public |
1098 | assistance to become independent, self-reliant, and self- |
1099 | sufficient. This approach must ensure the effective use of |
1100 | federal, state, local, and private resources in reducing the |
1101 | need for public assistance. |
1102 | Section 17. Section 288.8155, Florida Statutes, is |
1103 | repealed. |
1104 | Section 18. Effective July 1, 2004, section 288.9517, |
1105 | Florida Statutes, and section 14 of chapter 93-187, Laws of |
1106 | Florida, are repealed. |
1107 | Section 19. Except as otherwise provided herein, this act |
1108 | shall take effect upon becoming a law. |