Senate Bill sb1912

    Florida Senate - 2006                                  SB 1912

    By Senator Smith





    14-1643-06                                              See HB

  1                      A bill to be entitled

  2         An act relating to state incentives in

  3         enterprise zones; amending s. 290.007, F.S.;

  4         authorizing eligible businesses to transfer

  5         unused credits; providing requirements and

  6         limitations; providing an effective date.

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

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10         Section 1.  Subsection (9) is added to section 290.007,

11  Florida Statutes, to read:

12         290.007  State incentives available in enterprise

13  zones.--The following incentives are provided by the state to

14  encourage the revitalization of enterprise zones:

15         (9)  An eligible business may transfer any unused

16  credit in whole or in units of no less than 25 percent of the

17  remaining credit. The entity acquiring such credit may use the

18  credit in the same manner and with the same limitation as

19  described in ss. 212.096 and 220.181. Such transferred credits

20  may not be transferred again but may succeed to a surviving or

21  acquiring entity subject to the same conditions and

22  limitations described in this section.

23         Section 2.  This act shall take effect July 1, 2006.

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