| 1 | The Finance & Tax Committee recommends the following: |
| 2 |
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| 3 | Council/Committee Substitute |
| 4 | Remove the entire bill and insert: |
| 5 | A bill to be entitled |
| 6 | An act relating to economic development; amending s. |
| 7 | 212.08, F.S.; conforming provisions to the revision |
| 8 | creating designated urban job tax credit areas; amending |
| 9 | s. 212.097, F.S.; revising provisions providing for an |
| 10 | urban job tax credit program to apply to designated urban |
| 11 | job tax credit areas rather than high-crime areas; |
| 12 | revising and providing definitions, eligibility criteria, |
| 13 | application procedures and requirements, area |
| 14 | characteristics and criteria, and area designation |
| 15 | limitations; providing for tax credits to certain |
| 16 | businesses; providing procedures and requirements for and |
| 17 | limitations on tax credits; providing duties and |
| 18 | responsibilities of the Office of Tourism, Trade, and |
| 19 | Economic Development; providing for liability and a |
| 20 | criminal penalty for fraudulent claim of the credit; |
| 21 | providing limitations on corporations claiming the credit |
| 22 | against certain taxes; authorizing the Department of |
| 23 | Revenue to adopt rules and establish guidelines; providing |
| 24 | for retention of the program and tax credit eligibility |
| 25 | and amount by certain businesses for a certain time; |
| 26 | providing for future repeal; amending ss. 220.1895 and |
| 27 | 288.99, F.S.; conforming provisions to the revision |
| 28 | creating designated urban job tax credit areas; creating |
| 29 | s. 290.0078, F.S.; authorizing Charlotte County or |
| 30 | Charlotte County and the City of Punta Gorda to apply to |
| 31 | the Office of Tourism, Trade, and Economic Development for |
| 32 | designation of an enterprise zone; providing requirements; |
| 33 | authorizing the office to designate an enterprise zone; |
| 34 | providing an effective date. |
| 35 |
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| 36 | Be It Enacted by the Legislature of the State of Florida: |
| 37 |
|
| 38 | Section 1. Paragraph (o) of subsection (5) of section |
| 39 | 212.08, Florida Statutes, is amended to read: |
| 40 | 212.08 Sales, rental, use, consumption, distribution, and |
| 41 | storage tax; specified exemptions.--The sale at retail, the |
| 42 | rental, the use, the consumption, the distribution, and the |
| 43 | storage to be used or consumed in this state of the following |
| 44 | are hereby specifically exempt from the tax imposed by this |
| 45 | chapter. |
| 46 | (5) EXEMPTIONS; ACCOUNT OF USE.-- |
| 47 | (o) Building materials in redevelopment projects.-- |
| 48 | 1. As used in this paragraph, the term: |
| 49 | a. "Building materials" means tangible personal property |
| 50 | that becomes a component part of a housing project or a mixed- |
| 51 | use project. |
| 52 | b. "Housing project" means the conversion of an existing |
| 53 | manufacturing or industrial building to housing units in a |
| 54 | designated an urban job tax credit high-crime area, enterprise |
| 55 | zone, empowerment zone, Front Porch Community, designated |
| 56 | brownfield area, or urban infill area and in which the developer |
| 57 | agrees to set aside at least 20 percent of the housing units in |
| 58 | the project for low-income and moderate-income persons or the |
| 59 | construction in a designated brownfield area of affordable |
| 60 | housing for persons described in s. 420.0004(9), (10), or (14), |
| 61 | or in s. 159.603(7). |
| 62 | c. "Mixed-use project" means the conversion of an existing |
| 63 | manufacturing or industrial building to mixed-use units that |
| 64 | include artists' studios, art and entertainment services, or |
| 65 | other compatible uses. A mixed-use project must be located in a |
| 66 | designated an urban job tax credit high-crime area, enterprise |
| 67 | zone, empowerment zone, Front Porch Community, designated |
| 68 | brownfield area, or urban infill area, and the developer must |
| 69 | agree to set aside at least 20 percent of the square footage of |
| 70 | the project for low-income and moderate-income housing. |
| 71 | d. "Substantially completed" has the same meaning as |
| 72 | provided in s. 192.042(1). |
| 73 | 2. Building materials used in the construction of a |
| 74 | housing project or mixed-use project are exempt from the tax |
| 75 | imposed by this chapter upon an affirmative showing to the |
| 76 | satisfaction of the department that the requirements of this |
| 77 | paragraph have been met. This exemption inures to the owner |
| 78 | through a refund of previously paid taxes. To receive this |
| 79 | refund, the owner must file an application under oath with the |
| 80 | department which includes: |
| 81 | a. The name and address of the owner. |
| 82 | b. The address and assessment roll parcel number of the |
| 83 | project for which a refund is sought. |
| 84 | c. A copy of the building permit issued for the project. |
| 85 | d. A certification by the local building code inspector |
| 86 | that the project is substantially completed. |
| 87 | e. A sworn statement, under penalty of perjury, from the |
| 88 | general contractor licensed in this state with whom the owner |
| 89 | contracted to construct the project, which statement lists the |
| 90 | building materials used in the construction of the project and |
| 91 | the actual cost thereof, and the amount of sales tax paid on |
| 92 | these materials. If a general contractor was not used, the owner |
| 93 | shall provide this information in a sworn statement, under |
| 94 | penalty of perjury. Copies of invoices evidencing payment of |
| 95 | sales tax must be attached to the sworn statement. |
| 96 | 3. An application for a refund under this paragraph must |
| 97 | be submitted to the department within 6 months after the date |
| 98 | the project is deemed to be substantially completed by the local |
| 99 | building code inspector. Within 30 working days after receipt of |
| 100 | the application, the department shall determine if it meets the |
| 101 | requirements of this paragraph. A refund approved pursuant to |
| 102 | this paragraph shall be made within 30 days after formal |
| 103 | approval of the application by the department. The provisions of |
| 104 | s. 212.095 do not apply to any refund application made under |
| 105 | this paragraph. |
| 106 | 4. The department shall establish by rule an application |
| 107 | form and criteria for establishing eligibility for exemption |
| 108 | under this paragraph. |
| 109 | 5. The exemption shall apply to purchases of materials on |
| 110 | or after July 1, 2000. |
| 111 | Section 2. Section 212.097, Florida Statutes, is amended |
| 112 | to read: |
| 113 | (Substantial rewording of section. See |
| 114 | s. 212.097, F.S., for current text.) |
| 115 | 212.097 Designated Urban Job Tax Credit Area Program.-- |
| 116 | (1) As used in this section, the term: |
| 117 | (a) "Designated urban job tax credit area" means an area |
| 118 | designated by the Office of Tourism, Trade, and Economic |
| 119 | Development pursuant to subsection (5). Such an area includes an |
| 120 | area designated as a federal empowerment zone pursuant to the |
| 121 | Taxpayer Relief Act of 1997 or the Community Tax Relief Act of |
| 122 | 2000. A designated urban job tax credit area shall retain its |
| 123 | designation for a period of 5 years after the date of |
| 124 | designation. |
| 125 | (b) "Eligible business" means any business entity located |
| 126 | in a designated urban job tax credit area that is predominantly |
| 127 | engaged in, or is headquarters for a business predominantly |
| 128 | engaged in, activities usually provided for consideration by |
| 129 | firms classified within the following standard industrial |
| 130 | classifications: SIC 01-SIC 09 (agriculture, forestry, and |
| 131 | fishing); SIC 20-SIC 39 (manufacturing); SIC 52-SIC 57 and SIC |
| 132 | 59 (retail); SIC 422 (public warehousing and storage); SIC 70 |
| 133 | (hotels and other lodging places); SIC 7391 (research and |
| 134 | development); SIC 781 (motion picture production and allied |
| 135 | services); SIC 7992 (public golf courses); SIC 7996 (amusement |
| 136 | parks); and a targeted industry eligible for the qualified |
| 137 | target industry business tax refund under s. 288.106. A call |
| 138 | center or similar customer service operation that services a |
| 139 | multistate market or international market is also an eligible |
| 140 | business. Excluded from eligible receipts are receipts from |
| 141 | retail sales, except such receipts for hotels (retail) |
| 142 | classified in SIC 52-SIC 57 and SIC 59 and other lodging places |
| 143 | classified in SIC 70, public golf courses classified in SIC |
| 144 | 7992, and amusement parks classified in SIC 7996. For purposes |
| 145 | of this paragraph, the term "predominantly" means that more than |
| 146 | 50 percent of the business's gross receipts from all sources is |
| 147 | generated by those activities usually provided for consideration |
| 148 | by firms in the specified standard industrial classification. |
| 149 | The determination of whether the business is located in a |
| 150 | designated urban job tax credit area must be based on the date |
| 151 | of application for the credit under this section. Commonly owned |
| 152 | and controlled entities are to be considered a single business |
| 153 | entity. |
| 154 | (c) "Existing business" means any eligible business that |
| 155 | does not meet the criteria for a new business. |
| 156 | (d) "New business" means any eligible business first |
| 157 | beginning operation on a site in a designated urban job tax |
| 158 | credit area and clearly separate from any other commercial or |
| 159 | business operation of the business entity within a designated |
| 160 | urban job tax credit area. A business entity that operated an |
| 161 | eligible business within a designated urban job tax credit area |
| 162 | within the 48 months before the period provided for application |
| 163 | by subsection (2) is not considered a new business. |
| 164 | (e) "Office" means the Office of Tourism, Trade, and |
| 165 | Economic Development. |
| 166 | (f) "Qualified employee" means any employee of an eligible |
| 167 | business who performs duties in connection with the operations |
| 168 | of the business on a regular, full-time basis for an average of |
| 169 | at least 36 hours per week for at least 3 months within the |
| 170 | designated urban job tax credit area in which the eligible |
| 171 | business is located. An owner or partner of the eligible |
| 172 | business is not a qualified employee. The term also includes an |
| 173 | employee leased from an employee leasing company licensed under |
| 174 | chapter 468 if such employee has been continuously leased to the |
| 175 | employer for an average of at least 36 hours per week for more |
| 176 | than 6 months. |
| 177 | (g) "Urban infill and redevelopment area" means an area or |
| 178 | areas designated by a local government in which: |
| 179 | 1. Public services such as water and wastewater, |
| 180 | transportation, schools, and recreation are already available or |
| 181 | are scheduled to be provided in an adopted 5-year schedule of |
| 182 | capital improvements. |
| 183 | 2. The area, or one or more neighborhoods within the area, |
| 184 | suffers from pervasive poverty, unemployment, and general |
| 185 | distress as described in s. 290.0058. |
| 186 | 3. The area exhibits a proportion of properties that are |
| 187 | substandard, overcrowded, dilapidated, vacant or abandoned, or |
| 188 | functionally obsolete which is higher than the average for the |
| 189 | local government. |
| 190 | 4. More than 50 percent of the area is within 1/4 mile of |
| 191 | a transit stop, or a sufficient number of such transit stops |
| 192 | will be made available concurrent with the designation. |
| 193 | 5. The area includes or is adjacent to community |
| 194 | redevelopment areas, brownfields, enterprise zones, or Main |
| 195 | Street programs or has been designated by the state or Federal |
| 196 | Government as an urban redevelopment, revitalization, or infill |
| 197 | area under empowerment zone, enterprise community, or brownfield |
| 198 | showcase community programs or similar programs. |
| 199 | (2) A county or municipality, or a county and one or more |
| 200 | municipalities together, may apply to the office for the |
| 201 | designation of an area as a designated urban job tax credit area |
| 202 | in accordance with subsection (3). Applications must be received |
| 203 | by the office no later than April 30, 2007, and every 5 years |
| 204 | thereafter. |
| 205 | (3) In order for an area to qualify as a designated urban |
| 206 | job tax credit area, the following requirements must be met: |
| 207 | (a) The local government seeking designation must adopt a |
| 208 | resolution prior to the date of application for designation |
| 209 | that: |
| 210 | 1. Finds that an urban area exists in such county or |
| 211 | municipality, or in both the county and one or more |
| 212 | municipalities, that chronically exhibits extreme and |
| 213 | unacceptable levels of poverty, unemployment, physical |
| 214 | deterioration, and economic disinvestment. |
| 215 | 2. Determines that the rehabilitation, conservation, or |
| 216 | redevelopment, or a combination of rehabilitation, conservation, |
| 217 | or redevelopment, of such an urban area is necessary in the |
| 218 | interest of the health, safety, and welfare of the residents of |
| 219 | such county or municipality, or such county and one or more |
| 220 | municipalities. |
| 221 | 3. Determines that the revitalization of such an urban |
| 222 | area can occur if the public sector or private sector can be |
| 223 | induced to invest resources in productive enterprises that build |
| 224 | or rebuild the economic viability of the area. |
| 225 | (b) The local government seeking designation demonstrates |
| 226 | to the office that the area: |
| 227 | 1.a. Has at least 40 percent of its residents earning |
| 228 | wages on an annual basis that are equal to or less than the |
| 229 | annual wage of a person who is earning minimum wage; or |
| 230 | b. Has more than 20 percent of its residents or families |
| 231 | living below the federal standard of poverty for individuals or |
| 232 | a family of four. |
| 233 | 2. Has an unemployment rate at least 3 percentage points |
| 234 | higher than the state's unemployment rate. |
| 235 | 3. Has an arrest rate higher than the state's average rate |
| 236 | for such crimes as drug sale, drug possession, prostitution, |
| 237 | vandalism, and civil disturbances, as recorded by the total |
| 238 | crime index of the Department of Law Enforcement. |
| 239 | 4.a. Has 50 percent or more of its residents who rent; |
| 240 | b. Has property values that are within the lower 50 |
| 241 | percent of the county's assessed property values; |
| 242 | c. Has more than 5 percent of its commercial buildings |
| 243 | currently vacant or condemned within the previous 24 months; or |
| 244 | d. With respect to at least 25 percent of tax or special |
| 245 | assessment delinquencies, the amount of the delinquency exceeds |
| 246 | the fair value of the land. |
| 247 | (c) The selected area has a continuous boundary or |
| 248 | consists of not more than three noncontiguous parcels. |
| 249 | (d) The selected area does not exceed the following |
| 250 | mileage limitation: |
| 251 | 1. For areas having a total population of 150,000 persons |
| 252 | or more, the selected area does not exceed 20 square miles and |
| 253 | is within 10 miles of the urban infill and redevelopment area of |
| 254 | a city. |
| 255 | 2. For areas having a total population of 50,000 persons |
| 256 | or more but fewer than 150,000 persons, the selected area does |
| 257 | not exceed 10 square miles and is within 7.5 miles of the urban |
| 258 | infill and redevelopment area of a city. |
| 259 | 3. For areas having a total population of 20,000 persons |
| 260 | or more but fewer than 50,000 persons, the selected area does |
| 261 | not exceed 5 square miles and is within 5 miles of the urban |
| 262 | infill and redevelopment area of a city. |
| 263 | 4. For areas having a total population of fewer than |
| 264 | 20,000 persons, the selected area does not exceed 3 square miles |
| 265 | and is within 3 miles of the urban infill and redevelopment area |
| 266 | of a city. |
| 267 | (4) A municipality, or a county and one or more |
| 268 | municipalities together, may not nominate more than one urban |
| 269 | area. However, any county as defined in s. 125.011(1) may not |
| 270 | nominate more than three urban areas. |
| 271 | (5) On June 30, 2007, and every 5 years thereafter, the |
| 272 | office may designate no more than 30 areas that meet the |
| 273 | requirements of subsection (3). If there are more than 30 |
| 274 | applications in any year, the office shall rank the areas by |
| 275 | level of distress and designate the 30 areas with the most need. |
| 276 | (6) A new eligible business may apply for a tax credit |
| 277 | under this subsection once at any time during its first year of |
| 278 | operation. A new eligible business in a designated urban job tax |
| 279 | credit area that has at least 10 qualified employees on the date |
| 280 | of application shall receive a $1,000 tax credit for each such |
| 281 | employee. |
| 282 | (7) An existing eligible business may apply for a tax |
| 283 | credit under this subsection at any time and is entitled to such |
| 284 | credit except as restricted by this subsection. An existing |
| 285 | eligible business in a designated urban job tax credit area that |
| 286 | on the date of application has at least five more qualified |
| 287 | employees than the business had 1 year prior to the business's |
| 288 | date of application shall receive a $1,000 credit for each such |
| 289 | additional employee. An existing eligible business may apply for |
| 290 | the credit under this subsection no more than once in any 12- |
| 291 | month period. Any existing eligible business that received a |
| 292 | credit under subsection (6) may not apply for the credit under |
| 293 | this subsection sooner than 12 months after the application date |
| 294 | for the credit under subsection (6). To be eligible for a tax |
| 295 | credit under this subsection, the number of qualified employees |
| 296 | employed 1 year prior to the application date must be no lower |
| 297 | than the number of qualified employees on the application date |
| 298 | on which a credit under this section was based for any previous |
| 299 | application, including an application under subsection (6). |
| 300 | (8) For any new eligible business receiving a credit |
| 301 | pursuant to subsection (6) or any existing eligible business |
| 302 | receiving a credit pursuant to subsection (7), an additional |
| 303 | $500 credit shall be provided for any qualified employee who is |
| 304 | a welfare transition program participant. Such employee must be |
| 305 | employed on the credit application date and must have been |
| 306 | employed less than 1 year. This credit shall be in addition to |
| 307 | other credits pursuant to this section. Appropriate |
| 308 | documentation concerning the eligibility of an employee for the |
| 309 | additional credit under this subsection must be submitted as |
| 310 | determined by the department. |
| 311 | (9)(a) In order to claim the credit provided by this |
| 312 | section, an eligible business must file under oath with the |
| 313 | office a statement that includes the name and address of the |
| 314 | eligible business and any other information that is required to |
| 315 | process the application. |
| 316 | (b) Within 30 working days after receipt of an application |
| 317 | for the credit, the office shall review the application to |
| 318 | determine whether it contains all the information required by |
| 319 | this subsection and meets the criteria specified in this |
| 320 | section. Subject to the provisions of paragraph (c), the office |
| 321 | shall approve all applications that contain the information |
| 322 | required by this subsection and meet the criteria specified in |
| 323 | this section as eligible to receive the credit. |
| 324 | (c) The maximum credit amount that may be approved during |
| 325 | any calendar year is $5 million. The Department of Revenue, in |
| 326 | conjunction with the office, shall notify the governing bodies |
| 327 | in areas designated under this section when the $5 million |
| 328 | maximum amount has been reached. Applications must be considered |
| 329 | for approval in the order in which they are received without |
| 330 | regard to whether the credit is for a new or existing business. |
| 331 | This limitation applies to the value of the credit as contained |
| 332 | in approved applications. Approved credits may be taken in the |
| 333 | time and manner allowed pursuant to this section. |
| 334 | (10) If the application is insufficient to support the |
| 335 | credit authorized in this section, the office shall deny the |
| 336 | credit and notify the business of the denial. The business may |
| 337 | reapply for the credit within 3 months after such notification. |
| 338 | (11) If the credit provided under this section is greater |
| 339 | than can be taken on a single tax return, excess amounts may be |
| 340 | taken as credits on any tax return submitted within 12 months |
| 341 | after the approval of the application by the department. |
| 342 | (12) It is the responsibility of each business to |
| 343 | affirmatively demonstrate to the satisfaction of the Department |
| 344 | of Revenue that the business meets the requirements of this |
| 345 | section. |
| 346 | (13) Any person who fraudulently claims the credit |
| 347 | provided by this section is liable for repayment of the credit |
| 348 | plus a mandatory penalty of 100 percent of the credit and |
| 349 | commits a misdemeanor of the second degree, punishable as |
| 350 | provided in s. 775.082 or s. 775.083. |
| 351 | (14) A corporation may take the credit under this section |
| 352 | against its corporate income tax liability as provided in s. |
| 353 | 220.1895. However, a corporation that applies its job tax credit |
| 354 | against the tax imposed by chapter 220 may not receive the |
| 355 | credit provided for in this section. A credit may be taken |
| 356 | against only one tax. |
| 357 | (15) The department shall adopt rules pursuant to ss. |
| 358 | 120.536(1) and 120.54 governing the manner and form of |
| 359 | applications for credit and may establish guidelines concerning |
| 360 | the requisites for an affirmative showing of qualification for |
| 361 | the credit under this section. |
| 362 | (16) Notwithstanding subsections (6), (7), and (8), an |
| 363 | eligible business located in an area designated under this |
| 364 | section as of June 30, 2006, shall retain its program and tax |
| 365 | credit eligibility and amount through June 30, 2012, if the |
| 366 | business complies with the job creation requirements of this |
| 367 | section in effect on that date. This subsection is repealed July |
| 368 | 1, 2012. |
| 369 | Section 3. Section 220.1895, Florida Statutes, is amended |
| 370 | to read: |
| 371 | 220.1895 Rural Job Tax Credit and Designated Urban High- |
| 372 | Crime Area Job Tax Credit.--There shall be allowed a credit |
| 373 | against the tax imposed by this chapter amounts approved by the |
| 374 | Office of Tourism, Trade, and Economic Development pursuant to |
| 375 | the Rural Job Tax Credit Program in s. 212.098 and the |
| 376 | Designated Urban High-Crime Area Job Tax Credit Area Program in |
| 377 | s. 212.097. A corporation that uses its credit against the tax |
| 378 | imposed by this chapter may not take the credit against the tax |
| 379 | imposed by chapter 212. If any credit granted under this section |
| 380 | is not fully used in the first year for which it becomes |
| 381 | available, the unused amount may be carried forward for a period |
| 382 | not to exceed 5 years. The carryover may be used in a subsequent |
| 383 | year when the tax imposed by this chapter for such year exceeds |
| 384 | the credit for such year under this section after applying the |
| 385 | other credits and unused credit carryovers in the order provided |
| 386 | in s. 220.02(8). |
| 387 | Section 4. Subsection (2) and paragraph (j) of subsection |
| 388 | (3) of section 288.99, Florida Statutes, are amended to read: |
| 389 | 288.99 Certified Capital Company Act.-- |
| 390 | (2) PURPOSE.--The primary purpose of this act is to |
| 391 | stimulate a substantial increase in venture capital investments |
| 392 | in this state by providing an incentive for insurance companies |
| 393 | to invest in certified capital companies in this state which, in |
| 394 | turn, will make investments in new businesses or in expanding |
| 395 | businesses, including minority-owned or minority-operated |
| 396 | businesses and businesses located in a designated Front Porch |
| 397 | community, enterprise zone, designated urban job tax credit |
| 398 | high-crime area, rural job tax credit county, or nationally |
| 399 | recognized historic district. The increase in investment capital |
| 400 | flowing into new or expanding businesses is intended to |
| 401 | contribute to employment growth, create jobs which exceed the |
| 402 | average wage for the county in which the jobs are created, and |
| 403 | expand or diversify the economic base of this state. |
| 404 | (3) DEFINITIONS.--As used in this section, the term: |
| 405 | (j) "Qualified business" means the Digital Divide Trust |
| 406 | Fund established under the State of Florida Technology Office or |
| 407 | a business that meets the following conditions as evidenced by |
| 408 | documentation required by commission rule: |
| 409 | 1. The business is headquartered in this state and its |
| 410 | principal business operations are located in this state or at |
| 411 | least 75 percent of the employees are employed in the state. |
| 412 | 2. At the time a certified capital company makes an |
| 413 | initial investment in a business, the business would qualify for |
| 414 | investment under 13 C.F.R. s. 121.301(c), which is involved in |
| 415 | manufacturing, processing or assembling products, conducting |
| 416 | research and development, or providing services. |
| 417 | 3. At the time a certified capital company makes an |
| 418 | initial investment in a business, the business certifies in an |
| 419 | affidavit that: |
| 420 | a. The business is unable to obtain conventional |
| 421 | financing, which means that the business has failed in an |
| 422 | attempt to obtain funding for a loan from a bank or other |
| 423 | commercial lender or that the business cannot reasonably be |
| 424 | expected to qualify for such financing under the standards of |
| 425 | commercial lending; |
| 426 | b. The business plan for the business projects that the |
| 427 | business is reasonably expected to achieve in excess of $25 |
| 428 | million in sales revenue within 5 years after the initial |
| 429 | investment, or the business is located in a designated Front |
| 430 | Porch community, enterprise zone, designated urban job tax |
| 431 | credit high crime area, rural job tax credit county, or |
| 432 | nationally recognized historic district; |
| 433 | c. The business will maintain its headquarters in this |
| 434 | state for the next 10 years and any new manufacturing facility |
| 435 | financed by a qualified investment will remain in this state for |
| 436 | the next 10 years, or the business is located in a designated |
| 437 | Front Porch community, enterprise zone, designated urban job tax |
| 438 | credit high crime area, rural job tax credit county, or |
| 439 | nationally recognized historic district; and |
| 440 | d. The business has fewer than 200 employees and at least |
| 441 | 75 percent of the employees are employed in this state. For |
| 442 | purposes of this subsection, the term also includes the Florida |
| 443 | Black Business Investment Board, any entity majority owned by |
| 444 | the Florida Black Business Investment Board, or any entity in |
| 445 | which the Florida Black Business Investment Board holds a |
| 446 | majority voting interest on the board of directors. |
| 447 | 4. The term does not include: |
| 448 | a. Any business predominantly engaged in retail sales, |
| 449 | real estate development, insurance, banking, lending, or oil and |
| 450 | gas exploration. |
| 451 | b. Any business predominantly engaged in professional |
| 452 | services provided by accountants, lawyers, or physicians. |
| 453 | c. Any company that has no historical revenues and either |
| 454 | has no specific business plan or purpose or has indicated that |
| 455 | its business plan is solely to engage in a merger or acquisition |
| 456 | with any unidentified company or other entity. |
| 457 | d. Any company that has a strategic plan to grow through |
| 458 | the acquisition of firms with substantially similar business |
| 459 | which would result in the planned net loss of Florida-based jobs |
| 460 | over a 12-month period after the acquisition as determined by |
| 461 | the office. |
| 462 | Section 5. Section 290.0078, Florida Statutes, is created |
| 463 | to read: |
| 464 | 290.0078 Enterprise zone designation for Charlotte County |
| 465 | or Charlotte County and the City of Punta Gorda.--Charlotte |
| 466 | County or Charlotte County and the City of Punta Gorda may apply |
| 467 | to the Office of Tourism, Trade, and Economic Development for |
| 468 | designation of one enterprise zone encompassing an area not to |
| 469 | exceed 20 square miles. The application must be submitted by |
| 470 | December 31, 2006, and must comply with the requirements of s. |
| 471 | 290.0055, with the exception of s. 290.0055(4)(c). |
| 472 | Notwithstanding the provisions of s. 290.0065 limiting the total |
| 473 | number of enterprise zones designated and the number of |
| 474 | enterprise zones within a population category, the Office of |
| 475 | Tourism, Trade, and Economic Development may designate one |
| 476 | enterprise zone under this section. The Office of Tourism, |
| 477 | Trade, and Economic Development shall establish the initial |
| 478 | effective date of the enterprise zone designated pursuant to |
| 479 | this section. |
| 480 | Section 6. This act shall take effect July 1, 2006. |