| 1 | Representative(s) Attkisson offered the following: |
| 2 |
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| 3 | Amendment (with title amendment) |
| 4 | Remove everything after the enacting clause and insert: |
| 5 | Section 1. Paragraph (h) of subsection (1) and subsection |
| 6 | (5) of section 220.191, Florida Statutes, are amended, |
| 7 | subsections (3), (4), (6), and (7) of that section are |
| 8 | renumbered as subsections (4), (5), (7), and (8), respectively, |
| 9 | and a new subsection (3) is added to that section, to read: |
| 10 | 220.191 Capital investment tax credit.-- |
| 11 | (1) DEFINITIONS.--For purposes of this section: |
| 12 | (h) "Qualifying project" means: |
| 13 | 1. A new or expanding facility in this state which creates |
| 14 | at least 100 new jobs in this state and is in one of the high- |
| 15 | impact sectors identified by Enterprise Florida, Inc., and |
| 16 | certified by the office pursuant to s. 288.108(6), including, |
| 17 | but not limited to, aviation, aerospace, automotive, and silicon |
| 18 | technology industries; or |
| 19 | 2. A new or expanded facility in this state which is |
| 20 | engaged in a target industry designated pursuant to the |
| 21 | procedure specified in s. 288.106(1)(o) and which is induced by |
| 22 | this credit to create or retain at least 1,000 jobs in this |
| 23 | state, provided that at least 100 of those jobs are new, pay an |
| 24 | annual average wage of at least 130 percent of the average |
| 25 | private sector wage in the area as defined in s. 288.106(1), and |
| 26 | make a cumulative capital investment of at least $100 million |
| 27 | after July 1, 2005. Jobs may be considered retained only if |
| 28 | there is significant evidence that the loss of jobs is imminent. |
| 29 | Notwithstanding subsection (2), annual credits against the tax |
| 30 | imposed by this chapter shall not exceed 50 percent of the |
| 31 | increased annual corporate income tax liability or the premium |
| 32 | tax liability generated by or arising out of a project |
| 33 | qualifying under this subparagraph. A facility that qualifies |
| 34 | under this subparagraph for an annual credit against the tax |
| 35 | imposed by this chapter may take the tax credit for a period not |
| 36 | to exceed 5 years; or |
| 37 | 3. A new or expanded headquarters facility in this state |
| 38 | which locates in an enterprise zone and brownfield area and is |
| 39 | induced by this credit to create at least 1,500 jobs which on |
| 40 | average pay at least 200 percent of the statewide average annual |
| 41 | private sector wage, as published by the Agency for Workforce |
| 42 | Innovation or its successor, and which new or expanded |
| 43 | headquarters facility makes a cumulative capital investment in |
| 44 | this state of at least $250 million. |
| 45 | (3)(a) Notwithstanding subsection (2), an annual credit |
| 46 | against the tax imposed by this chapter shall be granted to a |
| 47 | qualifying business which establishes a qualifying project |
| 48 | pursuant to subparagraph (1)(h)3., in an amount equal to the |
| 49 | lesser of $15 million or 5 percent of the eligible capital costs |
| 50 | made in connection with a qualifying project, for a period not |
| 51 | to exceed 20 years beginning with the commencement of operations |
| 52 | of the project. The tax credit shall be granted against the |
| 53 | corporate income tax liability of the qualifying business and as |
| 54 | further provided in paragraph (c). The total tax credit provided |
| 55 | pursuant to this subsection shall be equal to no more than 100 |
| 56 | percent of the eligible capital costs of the qualifying project. |
| 57 | (b) If the credit granted under this subsection is not |
| 58 | fully used in any one year because of insufficient tax liability |
| 59 | on the part of the qualifying business, the unused amount may be |
| 60 | carried forward for a period not to exceed 20 years after the |
| 61 | commencement of operations of the project. The carryover credit |
| 62 | may be used in a subsequent year when the tax imposed by this |
| 63 | chapter for that year exceeds the credit for which the |
| 64 | qualifying business is eligible in that year under this |
| 65 | subsection after applying the other credits and unused |
| 66 | carryovers in the order provided by s. 220.02(8). |
| 67 | (c) The credit granted under this subsection may be used |
| 68 | in whole or in part by the qualifying business or any |
| 69 | corporation that is either a member of that qualifying business' |
| 70 | affiliated group of corporations, is a related entity taxable as |
| 71 | a cooperative under subchapter T of the Internal Revenue Code, |
| 72 | or, if the qualifying business is an entity taxable as a |
| 73 | cooperative under subchapter T of the Internal Revenue Code, is |
| 74 | related to the qualifying business. Any entity related to the |
| 75 | qualifying business may continue to file as a member of a |
| 76 | Florida-nexus consolidated group pursuant to a prior election |
| 77 | made under s. 220.131(1), Florida Statutes (1985), even if the |
| 78 | parent of the group changes due to a direct or indirect |
| 79 | acquisition of the former common parent of the group. Any credit |
| 80 | can be used by any of the affiliated companies or related |
| 81 | entities referenced in this paragraph to the same extent as it |
| 82 | could have been used by the qualifying business. However, any |
| 83 | such use shall not operate to increase the amount of the credit |
| 84 | or extend the period within which the credit must be used. |
| 85 | (6)(5) The office, in consultation with Enterprise |
| 86 | Florida, Inc., is authorized to develop the necessary guidelines |
| 87 | and application materials for the certification process |
| 88 | described in subsection (5) (4). |
| 89 | Section 2. Subsection (2) and paragraphs (a) and (b) of |
| 90 | subsection (3) of section 288.1088, Florida Statutes, are |
| 91 | amended to read: |
| 92 | 288.1088 Quick Action Closing Fund.-- |
| 93 | (2) There is created within the Office of Tourism, Trade, |
| 94 | and Economic Development the Quick Action Closing Fund. Projects |
| 95 | eligible for receipt of funds from the Quick Action Closing Fund |
| 96 | shall: |
| 97 | (a) Be in a targeted industry as referenced in s. 288.106. |
| 98 | (b) Have a positive payback ratio of at least 5 to 1. |
| 99 | (c) Be an inducement to the project's location or |
| 100 | expansion in the state. |
| 101 | (d) Pay an average annual wage of at least 125 percent of |
| 102 | the areawide or statewide private-sector average wage. |
| 103 | (e) Be supported by the local community in which the |
| 104 | project is to be located. |
| 105 | (3)(a) Enterprise Florida, Inc., shall determine |
| 106 | eligibility of each project consistent with the criteria in |
| 107 | subsection (2). Enterprise Florida, Inc., in consultation with |
| 108 | the Office of Tourism, Trade, and Economic Development, may |
| 109 | waive these criteria based on extraordinary circumstances when |
| 110 | the project would significantly benefit the local or regional |
| 111 | economy. Enterprise Florida, Inc., shall evaluate individual |
| 112 | proposals for high-impact business facilities and forward |
| 113 | recommendations regarding the use of moneys in the fund for such |
| 114 | facilities to the director of the Office of Tourism, Trade, and |
| 115 | Economic Development. Such evaluation and recommendation must |
| 116 | include, but need not be limited to: |
| 117 | 1. A description of the type of facility or |
| 118 | infrastructure, its operations, and the associated product or |
| 119 | service associated with the facility. |
| 120 | 2. The number of full-time-equivalent jobs that will be |
| 121 | created by the facility and the total estimated average annual |
| 122 | wages of those jobs or, in the case of privately developed rural |
| 123 | infrastructure, the types of business activities and jobs |
| 124 | stimulated by the investment. |
| 125 | 3. The cumulative amount of investment to be dedicated to |
| 126 | the facility within a specified period. |
| 127 | 4. A statement of any special impacts the facility is |
| 128 | expected to stimulate in a particular business sector in the |
| 129 | state or regional economy or in the state's universities and |
| 130 | community colleges. |
| 131 | 5. A statement of the role the incentive is expected to |
| 132 | play in the decision of the applicant business to locate or |
| 133 | expand in this state or for the private investor to provide |
| 134 | critical rural infrastructure. |
| 135 | (b) Upon receipt of the evaluation and recommendation from |
| 136 | Enterprise Florida, Inc., the director shall recommend approval |
| 137 | or disapproval of a project for receipt of funds from the Quick |
| 138 | Action Closing Fund to the Governor. In recommending a project, |
| 139 | the director shall include proposed performance conditions that |
| 140 | the project must meet to obtain incentive funds. The Governor |
| 141 | shall provide the evaluations of projects recommended for |
| 142 | approval to the President of the Senate and the Speaker of the |
| 143 | House of Representatives and consult with the President of the |
| 144 | Senate and the Speaker of the House of Representatives before |
| 145 | giving final approval for a project. The Executive Office of the |
| 146 | Governor shall recommend approval of a project and the release |
| 147 | of funds pursuant to the legislative consultation and review |
| 148 | requirements set forth in s. 216.177. The recommendation must |
| 149 | include proposed performance conditions that the project must |
| 150 | meet in order to obtain funds. |
| 151 | Section 3. Section 288.1089, Florida Statutes, is created |
| 152 | to read: |
| 153 | 288.1089 Innovation Incentive Program.-- |
| 154 | (1) The Innovation Incentive Program is created within the |
| 155 | Office of Tourism, Trade, and Economic Development to ensure |
| 156 | that sufficient resources are available to allow the state to |
| 157 | respond expeditiously to extraordinary economic opportunities |
| 158 | and to compete effectively for high-value research and |
| 159 | development and innovation business projects. |
| 160 | (2) As used in this section, the term: |
| 161 | (a) "Average private-sector wage" means the statewide |
| 162 | average wage in the private sector or the average of all |
| 163 | private-sector wages in the county or in the standard |
| 164 | metropolitan area in which the project is located as determined |
| 165 | by the Agency for Workforce Innovation. |
| 166 | (b) "Brownfield area" means an area designated as a |
| 167 | brownfield area pursuant to s. 376.80. |
| 168 | (c) "Cumulative investment" means cumulative capital |
| 169 | investment and all eligible capital costs, as defined in s. |
| 170 | 220.191. |
| 171 | (d) "Director" means the director of the Office of |
| 172 | Tourism, Trade, and Economic Development. |
| 173 | (e) "Enterprise zone" means a area designated as an |
| 174 | enterprise zone pursuant to s. 290.0065. |
| 175 | (f) "Fiscal year" means the state fiscal year. |
| 176 | (g) "Innovation business" means a business expanding or |
| 177 | locating in this state that is likely to serve as a catalyst for |
| 178 | the growth of an existing or emerging technology cluster or will |
| 179 | significantly impact the regional economy in which it is to |
| 180 | expand or locate. |
| 181 | (h) "Jobs" means full-time equivalent positions, as that |
| 182 | term is consistent with terms used by the Agency for Workforce |
| 183 | Innovation and the United States Department of Labor for |
| 184 | purposes of unemployment compensation tax administration and |
| 185 | employment estimation, resulting directly from a project in this |
| 186 | state. The term does not include temporary construction jobs. |
| 187 | (i) "Match" means funding from local sources, public or |
| 188 | private, which will be paid to the applicant and which is equal |
| 189 | to 100 percent of an award. Eligible match funding may include |
| 190 | any tax abatement granted to the applicant under s. 196.1995 or |
| 191 | the appraised market value of land, buildings, infrastructure, |
| 192 | or equipment conveyed or provided at a discount to the |
| 193 | applicant. Complete documentation of a match payment or other |
| 194 | conveyance must be presented to and verified by the office prior |
| 195 | to transfer of state funds to an applicant. An applicant may not |
| 196 | provide, directly or indirectly, more than 5 percent of match |
| 197 | funding in any fiscal year. The sources of such funding may not |
| 198 | include, directly or indirectly, state funds appropriated from |
| 199 | the General Revenue Fund or any state trust fund, excluding tax |
| 200 | revenues shared with local governments pursuant to law. |
| 201 | (j) "Office" means the Office of Tourism, Trade, and |
| 202 | Economic Development. |
| 203 | (k) "Project" means the location to or expansion in this |
| 204 | state by an innovation business or research and development |
| 205 | applicant approved for an award pursuant to this section. |
| 206 | (l) "Research and development" means basic and applied |
| 207 | research in the sciences or engineering, as well as the design, |
| 208 | development, and testing of prototypes or processes of new or |
| 209 | improved products. Research and development does not include |
| 210 | market research, routine consumer product testing, sales |
| 211 | research, research in the social sciences or psychology, |
| 212 | nontechnological activities, or technical services. |
| 213 | (m) "Research and development facility" means a facility |
| 214 | that is predominately engaged in research and development |
| 215 | activities. For purposes of this paragraph, the term |
| 216 | "predominantly" means at least 51 percent of the time. |
| 217 | (n) "Rural area" means a rural city, rural community, or |
| 218 | rural county as defined in s. 288.106. |
| 219 | (3) To be eligible for consideration for an innovation |
| 220 | incentive award, an innovation business or research and |
| 221 | development entity must submit a written application to |
| 222 | Enterprise Florida, Inc., before making a decision to locate new |
| 223 | operations in this state or expand an existing operation in this |
| 224 | state. The application must include, but not be limited to: |
| 225 | (a) The applicant's federal employer identification |
| 226 | number, unemployment account number, and state sales tax |
| 227 | registration number. If such numbers are not available at the |
| 228 | time of application, they must be submitted to the office in |
| 229 | writing prior to the disbursement of any payments under this |
| 230 | section. |
| 231 | (b) The location in this state at which the project is |
| 232 | located or is to be located. |
| 233 | (c) A description of the type of business activity, |
| 234 | product, or research and development undertaken by the |
| 235 | applicant, including six-digit North American Industry |
| 236 | Classification System codes for all activities included in the |
| 237 | project. |
| 238 | (d) The applicant's projected investment in the project. |
| 239 | (e) The total investment, from all sources, in the |
| 240 | project. |
| 241 | (f) The number of net new full-time equivalent jobs in |
| 242 | this state the applicant anticipates having created as of |
| 243 | December 31 of each year in the project and the average annual |
| 244 | wage of such jobs. |
| 245 | (g) The total number of full-time equivalent employees |
| 246 | currently employed by the applicant in this state, if |
| 247 | applicable. |
| 248 | (h) The anticipated commencement date of the project. |
| 249 | (i) A detailed explanation of why the innovation incentive |
| 250 | is needed to induce the applicant to expand or locate in the |
| 251 | state and whether an award would cause the applicant to locate |
| 252 | or expand in this state. |
| 253 | (j) If applicable, an estimate of the proportion of the |
| 254 | revenues resulting from the project that will be generated |
| 255 | outside this state. |
| 256 | (4) To qualify for review by the office, the applicant |
| 257 | must, at a minimum, establish the following to the satisfaction |
| 258 | of Enterprise Florida, Inc., and the office: |
| 259 | (a) The jobs created by the project must pay an estimated |
| 260 | annual average wage equaling at least 130 percent of the average |
| 261 | private-sector wage. The office may waive this average wage |
| 262 | requirement at the request of Enterprise Florida, Inc., for a |
| 263 | project located in a rural area, a brownfield area, or an |
| 264 | enterprise zone, when the merits of the individual project or |
| 265 | the specific circumstances in the community in relationship to |
| 266 | the project warrant such action. A recommendation for waiver by |
| 267 | Enterprise Florida, Inc., must include a specific justification |
| 268 | for the waiver and be transmitted to the office in writing. If |
| 269 | the director elects to waive the wage requirement, the waiver |
| 270 | must be stated in writing and the reasons for granting the |
| 271 | waiver must be explained. |
| 272 | (b) A research and development project must: |
| 273 | 1. Serve as a catalyst for an emerging or evolving |
| 274 | technology cluster. |
| 275 | 2. Demonstrate a plan for significant higher education |
| 276 | collaboration. |
| 277 | 3. Provide the state, at a minimum, a break-even return on |
| 278 | investment within a 20-year period. |
| 279 | 4. Be provided with a one-to-one match from the local |
| 280 | community. The match requirement may be reduced or waived in |
| 281 | rural areas, brownfield areas, and enterprise zones. |
| 282 | (c) An innovation business project in this state, other |
| 283 | than a research and development project, must: |
| 284 | 1.a. Result in the creation of at least 1,000 direct, new |
| 285 | jobs at the business; or |
| 286 | b. Result in the creation of at least 500 direct, new jobs |
| 287 | if the project is located in a rural area, a brownfield area, or |
| 288 | an enterprise zone. |
| 289 | 2. Have an activity or product that is within an industry |
| 290 | that is designated as a target industry business under s. |
| 291 | 288.106 or a designated sector under s. 288.108. |
| 292 | 3.a. Have a cumulative investment of at least $500 million |
| 293 | within a 5-year period; or |
| 294 | b. Have a cumulative investment that exceeds $250 million |
| 295 | within a 10-year period if the project is located in a rural |
| 296 | area, brownfield area, or an enterprise zone. |
| 297 | 4. Be provided with a one-to-one match from the local |
| 298 | community. The match requirement may be reduced or waived in |
| 299 | rural areas, brownfield areas, and enterprise zones. |
| 300 | (5) Enterprise Florida, Inc., shall evaluate proposals for |
| 301 | innovation incentive awards and transmit recommendations for |
| 302 | awards to the office. Such evaluation and recommendation must |
| 303 | include, but need not be limited to: |
| 304 | (a) A description of the project, its required facilities, |
| 305 | and the associated product, service, or research and development |
| 306 | associated with the project. |
| 307 | (b) The percentage of match provided for the project. |
| 308 | (c) The number of full-time equivalent jobs that will be |
| 309 | created by the project, the total estimated average annual wages |
| 310 | of such jobs, and the types of business activities and jobs |
| 311 | likely to be stimulated by the project. |
| 312 | (d) The cumulative investment to be dedicated to the |
| 313 | project within 5 years and the total investment expected in the |
| 314 | project if more than 5 years. |
| 315 | (e) The projected economic and fiscal impacts on the local |
| 316 | and state economies relative to investment. |
| 317 | (f) A statement of any special impacts the project is |
| 318 | expected to stimulate in a particular business sector in the |
| 319 | state or regional economy or in the state's universities and |
| 320 | community colleges. |
| 321 | (g) A statement of any anticipated or proposed |
| 322 | relationships with state universities. |
| 323 | (h) A statement of the role the incentive is expected to |
| 324 | play in the decision of the applicant to locate or expand in |
| 325 | this state. |
| 326 | (i) A recommendation and explanation of the amount of the |
| 327 | award needed to cause the applicant to expand or locate in this |
| 328 | state. |
| 329 | (j) A discussion of the efforts and commitments made by |
| 330 | the local community in which the project is to be located to |
| 331 | induce the applicant's location or expansion, taking into |
| 332 | consideration local resources and abilities. |
| 333 | (k) A recommendation for specific performance criteria the |
| 334 | applicant would be expected to achieve in order to receive |
| 335 | payments from the fund and penalties or sanctions for failure to |
| 336 | meet or maintain performance conditions. |
| 337 | (l) For a research and development facility project: |
| 338 | 1. A description of the extent to which the project has |
| 339 | the potential to serve as catalyst for an emerging or evolving |
| 340 | cluster. |
| 341 | 2. A description of the extent to which the project has or |
| 342 | could have a long-term collaborative research and development |
| 343 | relationship with one or more universities or community colleges |
| 344 | in this state. |
| 345 | 3. A description of the existing or projected impact of |
| 346 | the project on established clusters or targeted industry |
| 347 | sectors. |
| 348 | 4. A description of the project's contribution to the |
| 349 | diversity and resiliency of the innovation economy of this |
| 350 | state. |
| 351 | 5. A description of the project's impact on special-needs |
| 352 | communities, including, but not limited to, rural areas, |
| 353 | distressed urban areas, and enterprise zones. |
| 354 | (6) In consultation with Enterprise Florida, Inc., the |
| 355 | office may negotiate the proposed amount of an award for any |
| 356 | applicant meeting the requirements of this section. In |
| 357 | negotiating such award, the office shall consider the amount of |
| 358 | the incentive needed to cause the applicant to locate or expand |
| 359 | in this state in conjunction with other relevant applicant |
| 360 | impact and cost information and analysis as described in this |
| 361 | section. Particular emphasis shall be given to the potential for |
| 362 | the project to stimulate additional private investment and high- |
| 363 | quality employment opportunities in the area. |
| 364 | (7) Upon receipt of the evaluation and recommendation from |
| 365 | Enterprise Florida, Inc., the director shall recommend to the |
| 366 | Governor the approval or disapproval of an award. In |
| 367 | recommending approval of an award, the director shall include |
| 368 | proposed performance conditions that the applicant must meet in |
| 369 | order to obtain incentive funds and any other conditions that |
| 370 | must be met before the receipt of any incentive funds. The |
| 371 | Governor shall consult with the President of the Senate and the |
| 372 | Speaker of the House of Representatives before giving approval |
| 373 | for an award. Upon approval of an award, the Executive Office of |
| 374 | the Governor shall release the funds pursuant to the legislative |
| 375 | consultation and review requirements set forth in s. 216.177. |
| 376 | (8) Upon approval by the Governor and release of the funds |
| 377 | as set forth in subsection (7), the director shall issue a |
| 378 | letter certifying the applicant as qualified for an award. The |
| 379 | office and the applicant shall enter into an agreement that sets |
| 380 | forth the conditions for payment of incentives. The agreement |
| 381 | must include the total amount of funds awarded; the performance |
| 382 | conditions that must be met to obtain the award or portions of |
| 383 | the award, including, but not limited to, net new employment in |
| 384 | the state, average wage, and total cumulative investment; |
| 385 | demonstration of a baseline of current service and a measure of |
| 386 | enhanced capability; the methodology for validating performance; |
| 387 | the schedule of payments; and sanctions for failure to meet |
| 388 | performance conditions, including any clawback provisions. |
| 389 | (9) Enterprise Florida, Inc., shall assist the office in |
| 390 | validating the performance of an innovation business or research |
| 391 | and development facility that has received an award. At the |
| 392 | conclusion of the innovation incentive award agreement, or its |
| 393 | earlier termination, Enterprise Florida, Inc., shall, within 90 |
| 394 | days, report the results of the innovation incentive award to |
| 395 | the Governor, the President of the Senate, and the Speaker of |
| 396 | the House of Representatives. |
| 397 | (10) Enterprise Florida, Inc., shall develop business |
| 398 | ethics standards based on appropriate best industry practices |
| 399 | which shall be applicable to all award recipients. The standards |
| 400 | shall address ethical duties of business enterprises, fiduciary |
| 401 | responsibilities of management, and compliance with the laws of |
| 402 | this state. Enterprise Florida, Inc., may collaborate with the |
| 403 | State University System in reviewing and evaluating appropriate |
| 404 | business ethics standards. Such standards shall be provided to |
| 405 | the Governor, the President of the Senate, and the Speaker of |
| 406 | the House of Representatives by December 31, 2006. An award |
| 407 | agreement entered into on or after December 31, 2006, shall |
| 408 | require a recipient to comply with the business ethics standards |
| 409 | developed pursuant to this section. |
| 410 | Section 4. Section 288.1171, Florida Statutes, is created |
| 411 | to read: |
| 412 | 288.1171 Qualified job-training organizations; |
| 413 | certification; duties.-- |
| 414 | (1) As used in this section, the term "qualified job- |
| 415 | training organization" means an organization that satisfies all |
| 416 | of the following: |
| 417 | (a) Is accredited by the Commission for Accreditation of |
| 418 | Rehabilitation Facilities. |
| 419 | (b) Collects Florida state sales tax. |
| 420 | (c) Operates statewide and has more than 100 locations |
| 421 | within the state. |
| 422 | (d) Is exempt from income taxation under s. 501(c)3 or s. |
| 423 | 501(c)4 of the Internal Revenue Code of 1986, as amended. |
| 424 | (e) Specializes in the retail sale of donated items. |
| 425 | (f) Provides job training and employment services to |
| 426 | individuals who have workplace disadvantages and disabilities. |
| 427 | (g) Uses a majority of its revenues for job training and |
| 428 | placement programs that create jobs and foster economic |
| 429 | development. |
| 430 | (2) To be eligible for funding, an organization must be |
| 431 | certified by the Office of Tourism, Trade, and Economic |
| 432 | Development as meeting the criteria in subsection (1). After |
| 433 | certification, the Office of Tourism, Trade, and Economic |
| 434 | Development may release funds to the qualified job training |
| 435 | organization pursuant to a contract with the organization. The |
| 436 | contract must include the performance conditions that must be |
| 437 | met in order to obtain the award or portions of the award, |
| 438 | including, but not limited to, net new employment in the state, |
| 439 | the methodology for validating performance, the schedule of |
| 440 | payments, and sanctions for failure to meet the performance |
| 441 | requirements including any provisions for repayment of awards. |
| 442 | The contract must also require that salaries paid to officers |
| 443 | and employees of the qualified job training organization comply |
| 444 | with s. 4958 of the Internal Revenue Code of 1986, as amended. |
| 445 | (3) A qualified job-training organization that is |
| 446 | certified must use the proceeds provided solely to encourage and |
| 447 | provide economic development through capital construction, |
| 448 | improvements, or the purchase of equipment that will result in |
| 449 | expanded employment opportunities. Proceeds provided under this |
| 450 | section for a qualified job training organization must result, |
| 451 | within a 10-year period, in: |
| 452 | (a) The creation of at least 5,000 direct, new jobs. |
| 453 | (b) A minimum of 23,000 new clients served. |
| 454 | (c) The production of a minimum of $24 million in new |
| 455 | sales tax revenues from increased sales. |
| 456 | (d) A minimum of $42 million in new salaries. |
| 457 | (e) A minimum of $6 million for job placement services. |
| 458 | (4) The failure to use the proceeds as required |
| 459 | constitutes grounds for revoking certification. |
| 460 | Section 5. Paragraph (e) of subsection (2) of section |
| 461 | 288.0655, Florida Statutes, is amended to read: |
| 462 | 288.0655 Rural Infrastructure Fund.-- |
| 463 | (2) |
| 464 | (e) To enable local governments to access the resources |
| 465 | available pursuant to s. 403.973(19)(18), the office may award |
| 466 | grants for surveys, feasibility studies, and other activities |
| 467 | related to the identification and preclearance review of land |
| 468 | which is suitable for preclearance review. Authorized grants |
| 469 | under this paragraph shall not exceed $75,000 each, except in |
| 470 | the case of a project in a rural area of critical economic |
| 471 | concern, in which case the grant shall not exceed $300,000. Any |
| 472 | funds awarded under this paragraph must be matched at a level of |
| 473 | 50 percent with local funds, except that any funds awarded for a |
| 474 | project in a rural area of critical economic concern must be |
| 475 | matched at a level of 33 percent with local funds. In evaluating |
| 476 | applications under this paragraph, the office shall consider the |
| 477 | extent to which the application seeks to minimize administrative |
| 478 | and consultant expenses. |
| 479 | Section 6. Subsections (16) through (19) of section |
| 480 | 403.973, Florida Statutes, are renumbered as subsections (17) |
| 481 | through (20), respectively, and a new subsection (16) is added |
| 482 | to that section, to read: |
| 483 | 403.973 Expedited permitting; comprehensive plan |
| 484 | amendments.-- |
| 485 | (16) The office, working with the agencies participating |
| 486 | in the memoranda of agreement, shall review sites proposed for |
| 487 | the location of facilities eligible for the Innovation Incentive |
| 488 | Program under s. 288.1089. Within 20 days after the request for |
| 489 | the review by the office, the agencies shall provide to the |
| 490 | office a statement as to each site's necessary permits under |
| 491 | local, state, and federal law and an identification of |
| 492 | significant permitting issues, which if unresolved, may result |
| 493 | in the denial of an agency permit or approval or any significant |
| 494 | delay caused by the permitting process. |
| 495 | Section 7. Subsection (6) of section 624.509, Florida |
| 496 | Statutes, is amended to read: |
| 497 | 624.509 Premium tax; rate and computation.-- |
| 498 | (6)(a) The total of the credit granted for the taxes paid |
| 499 | by the insurer under chapters 220 and 221 and the credit granted |
| 500 | by subsection (5) shall not exceed 65 percent of the tax due |
| 501 | under subsection (1) after deducting therefrom the taxes paid by |
| 502 | the insurer under ss. 175.101 and 185.08 and any assessments |
| 503 | pursuant to s. 440.51. |
| 504 | (b) To the extent that any credits granted by subsection |
| 505 | (5) remain as a result of the limitation set forth in paragraph |
| 506 | (a), such excess credits related to salaries and wages of |
| 507 | employees whose place of employment is located within an |
| 508 | enterprise zone created pursuant to chapter 290 may be |
| 509 | transferred, in an aggregate amount not to exceed 25 percent of |
| 510 | such excess salary credits, to any insurer that is a member of |
| 511 | an affiliated group of corporations, as defined in sub- |
| 512 | subparagraph (5)(b)4.a., that includes the original insurer |
| 513 | qualifying for the credits under subsection (5). The amount of |
| 514 | such excess credits to be transferred shall be calculated by |
| 515 | multiplying the amount of such excess credits by a fraction, the |
| 516 | numerator of which is the sum of the salaries qualifying for the |
| 517 | credit allowed by subsection (5) of employees whose place of |
| 518 | employment is located in an enterprise zone and the denominator |
| 519 | of which is the sum of the salaries qualifying for the credit |
| 520 | allowed by subsection (5). Any such transferred credits shall be |
| 521 | subject to the same provisions and limitations set forth within |
| 522 | part IV of this chapter. The provisions of this paragraph do not |
| 523 | apply to an affiliated group of corporations that participate in |
| 524 | a common paymaster arrangement as defined in s. 443.1216. |
| 525 | Section 8. The sum of $3 million per year is appropriated |
| 526 | from nonrecurring general revenue for 10 years to the Office of |
| 527 | Tourism, Trade, and Economic Development for the purpose |
| 528 | specified in s. 288.1171(3), Florida Statutes. For the 2006-2007 |
| 529 | fiscal year, these funds are appropriated from nonrecurring |
| 530 | general revenue. For the 2007-2008 through 2016-2017 fiscal |
| 531 | years, the funds shall be appropriated from nonrecurring general |
| 532 | revenue or as specifically provided in the General |
| 533 | Appropriations Act. The funds shall be distributed by the Office |
| 534 | of Tourism, Trade, and Economic Development to organizations |
| 535 | meeting the requirements of s. 288.1171, Florida Statutes, |
| 536 | solely to encourage and provide economic development through |
| 537 | capital construction, improvements, or the purchase of equipment |
| 538 | that will result in expanded employment opportunities. |
| 539 | Section 9. For the 2006-2007 fiscal year, the sum of $50 |
| 540 | million is appropriated from nonrecurring funds from the General |
| 541 | Revenue Fund in fiscal year 2006-2007 to the Quick Action |
| 542 | Closing Fund. |
| 543 | Section 10. For fiscal year 2006-2007, the sum of |
| 544 | $250,000,000 is appropriated from nonrecurring general revenue |
| 545 | to the Office of Tourism, Trade, and Economic Development. |
| 546 | Notwithstanding s. 216.301, Florida Statutes, and pursuant to s. |
| 547 | 216.351, Florida Statutes, any unexpended balance from this |
| 548 | appropriation shall be carried forward at the end of each fiscal |
| 549 | year until the 2010-2011 fiscal year. At the end of the 2010- |
| 550 | 2011 fiscal year, any obligated funds for qualified projects |
| 551 | that are not yet disbursed shall remain with the office to be |
| 552 | used for the purposes of this act. Any unobligated funds of this |
| 553 | appropriation shall revert to the General Revenue Fund |
| 554 | unallocated at the end of the 2010-2011 fiscal year. |
| 555 | Section 11. This act shall take effect July 1, 2006. |
| 556 |
|
| 557 | ================= T I T L E A M E N D M E N T ================= |
| 558 | Remove the entire title and insert: |
| 559 | A bill to be entitled |
| 560 | An act relating to economic development incentives; |
| 561 | amending s. 220.191, F.S.; expanding the definition of |
| 562 | qualified project for the Capital Investment Tax Credit; |
| 563 | providing for an annual corporate income tax credit for a |
| 564 | qualifying business establishing a new or expanded |
| 565 | headquarters facility in this state which locates in an |
| 566 | enterprise zone and brownfield area and meeting specified |
| 567 | requirements; providing for carryforward of unused |
| 568 | credits; providing for use of credits by certain |
| 569 | affiliated companies or related entities; amending s. |
| 570 | 288.1088, F.S.; providing eligibility requirements for the |
| 571 | receipt of funds from the Quick Action Closing Fund; |
| 572 | authorizing the waiver of certain criteria for projects |
| 573 | that would significantly benefit the economy; providing |
| 574 | additional requirements for Enterprise Florida, Inc., in |
| 575 | evaluating proposed projects; creating s. 288.1089, F.S.; |
| 576 | creating the Innovation Incentive Program within the |
| 577 | Office of Tourism, Trade, and Economic Development for |
| 578 | certain purposes; providing definitions; providing an |
| 579 | incentive-award limitation; providing for award |
| 580 | application and eligibility; providing qualification |
| 581 | requirements; providing proposal evaluation and |
| 582 | recommendations requirements for Enterprise Florida, Inc.; |
| 583 | providing for negotiation of award amounts by the office; |
| 584 | providing for agreements for payments of certain moneys |
| 585 | under certain circumstances; providing criteria for award |
| 586 | approval or disapproval; providing for incentive payment |
| 587 | agreements; requiring Enterprise Florida, Inc., to assist |
| 588 | the office in validating certain business performances; |
| 589 | requiring a report to the Governor and Legislature; |
| 590 | requiring Enterprise Florida, Inc. to develop business |
| 591 | ethics standards; requiring a report; creating s. |
| 592 | 288.1171, F.S.; defining the term "qualified job-training |
| 593 | organization"; providing for the Office of Tourism, Trade, |
| 594 | and Economic Development to certify qualified job-training |
| 595 | organizations; providing for the distribution of certain |
| 596 | funds to a certified organization pursuant to contract; |
| 597 | providing contract requirements; specifying uses of the |
| 598 | funds; providing for revocation of certification under |
| 599 | certain circumstances; providing for appropriations to be |
| 600 | distributed through the Office of Tourism, Trade, and |
| 601 | Economic Development; amending s. 288.0655; correcting a |
| 602 | cross reference; amending s. 403.973, F.S.; providing for |
| 603 | review of possible sites for projects funded under s. |
| 604 | 288.1089, F.S.; amending s. 624.509, F.S.; authorizing |
| 605 | transfers to certain entities of certain excess credits |
| 606 | against the insurance premium tax; providing criteria, |
| 607 | requirements, and limitations; providing nonapplication to |
| 608 | certain affiliated groups of corporations; providing |
| 609 | appropriations; providing an effective date. |