Florida Senate - 2005 SENATOR AMENDMENT
Bill No. CS for CS for SB 202
Barcode 911154
CHAMBER ACTION
Senate House
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04/28/2005 11:02 AM .
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11 Senator Jones moved the following amendment:
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13 Senate Amendment (with title amendment)
14 On page 18, between lines 29 and 30,
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16 insert:
17 Section 5. Paragraph (h) of subsection (1) of section
18 220.191, Florida Statutes, is amended to read:
19 220.191 Capital investment tax credit.--
20 (1) DEFINITIONS.--For purposes of this section:
21 (h) "Qualifying project" means:
22 1. A new or expanding facility in this state which
23 creates at least 100 new jobs in this state and is in one of
24 the high-impact sectors identified by Enterprise Florida,
25 Inc., and certified by the office pursuant to s. 288.108(6),
26 including, but not limited to, aviation, aerospace,
27 automotive, and silicon technology industries; or
28 2. A new or expanded facility in this state which is
29 engaged in a target industry designated pursuant to the
30 procedure specified in s. 288.106(1)(o) and which is induced
31 by this credit to create or retain at least 1,000 jobs in this
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Florida Senate - 2005 SENATOR AMENDMENT
Bill No. CS for CS for SB 202
Barcode 911154
1 state, provided that at least 100 of those jobs are new, pay
2 an annual average wage of at least 130 percent of the average
3 private sector wage in the area as defined in s. 288.106(1),
4 and make a cumulative capital investment of at least $100
5 million after July 1, 2005. Jobs may be considered retained
6 only if there is significant evidence that the loss of jobs is
7 imminent. Notwithstanding subsection (2), annual credits
8 against the tax imposed by this chapter shall not exceed 50
9 percent of the increased annual corporate income tax liability
10 or the premium tax liability generated by or arising out of a
11 project qualifying under this subparagraph. A facility that
12 qualifies under this subparagraph for an annual credit against
13 the tax imposed by this chapter may take the tax credit for a
14 period not to exceed 5 years. A new financial services
15 facility in this state, which creates at least 2,000 new jobs
16 in this state, pays an average annual wage of at least
17 $50,000, and makes a cumulative capital investment of at least
18 $30 million. This subparagraph is repealed June 30, 2004.
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20 (Redesignate subsequent sections.)
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24 And the title is amended as follows:
25 On page 2, line 10, after the semicolon,
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27 insert:
28 amending s. 220.191, F.S.; redefining the term
29 "qualifying project"; providing a limitation on
30 the duration of the capital investment tax
31 credit for projects qualifying under this act;
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