HB 821

1	A bill to be entitled
2	An act relating to a homeownership assistance contribution
3	tax credit program; amending s. 14.2015, F.S.; revising
4	the duties of the Office of Tourism, Trade, and Economic
5	Development to conform; amending s. 212.08, F.S.; reducing
6	the amount of available tax credits for projects under the
7	community contribution tax credit program; removing from
8	the community contribution tax credit program provisions
9	relating to affordable housing for certain low-income
10	households; establishing a tax credit against the sales
11	and use tax for certain homeownership assistance
12	contributions; providing for authorization; providing
13	eligibility, application, and distribution requirements;
14	providing for administration by the office and expiration;
15	providing methods and procedures for computing and
16	granting the credit; providing limitations; specifying a
17	maximum amount available for projects under the
18	homeownership assistance contribution tax credit program;
19	authorizing the office to adopt rules; providing duties of
20	the office; amending s. 220.02, F.S.; revising legislative
21	intent relating to the order of priority of application of
22	credits against the corporate income tax to include
23	homeownership assistance contribution tax credits;
24	amending s. 220.03, F.S.; deleting the definitions of
25	"community contribution" and "project"; conforming cross-
26	references; amending ss. 220.183 and 624.5105, F.S.;
27	reducing the amount of available tax credits against the
28	corporate income tax and the insurance premium tax for
29	projects under the community contribution tax credit
30	program; removing from the community contribution tax
31	credit program provisions relating to affordable housing
32	for certain low-income households; creating ss. 220.1835
33	and 624.5108, F.S.; establishing tax credits against the
34	corporate income tax and the insurance premium tax for
35	certain homeownership assistance contributions; providing
36	for authorization; providing eligibility, application, and
37	distribution requirements; providing for administration by
38	the office and expiration; providing methods and
39	procedures for computing and granting the credit;
40	providing limitations; specifying a maximum amount of tax
41	credits available for projects under the homeownership
42	assistance contribution tax credit program; authorizing
43	the office to adopt rules; providing duties of the office;
44	amending ss. 212.06, 220.02, 220.181, 220.182, 288.1045,
45	288.106, and 290.00677, F.S.; conforming cross-references;
46	providing an effective date.
47
48	Be It Enacted by the Legislature of the State of Florida:
49
50	Section 1.  Paragraph (f) of subsection (2) of section
51	14.2015, Florida Statutes, is amended to read:
52	14.2015  Office of Tourism, Trade, and Economic
53	Development; creation; powers and duties.--
54	(2)  The purpose of the Office of Tourism, Trade, and
55	Economic Development is to assist the Governor in working with
56	the Legislature, state agencies, business leaders, and economic
57	development professionals to formulate and implement coherent
58	and consistent policies and strategies designed to provide
59	economic opportunities for all Floridians. To accomplish such
60	purposes, the Office of Tourism, Trade, and Economic Development
61	shall:
62	(f)1.  Administer the Florida Enterprise Zone Act under ss.
63	290.001-290.016;, the community contribution tax credit program
64	under ss. 212.08(5)(q), 220.183, and 624.5105;, the
65	homeownership assistance tax credit program under ss.
66	212.08(5)(r), 220.1835, and 624.5108; the tax refund program for
67	qualified target industry businesses under s. 288.106;, the tax-
68	refund program for qualified defense contractors under s.
69	288.1045;, contracts for transportation projects under s.
70	288.063;, the sports franchise facility program under s.
71	288.1162;, the professional golf hall of fame facility program
72	under s. 288.1168;, the expedited permitting process under s.
73	403.973;, the Rural Community Development Revolving Loan Fund
74	under s. 288.065;, the Regional Rural Development Grants Program
75	under s. 288.018;, the Certified Capital Company Act under s.
76	288.99;, the Florida State Rural Development Council;, the Rural
77	Economic Development Initiative;, and other programs that are
78	specifically assigned to the office by law, by the
79	appropriations process, or by the Governor. Notwithstanding any
80	other provisions of law, the office may expend interest earned
81	from the investment of program funds deposited in the Grants and
82	Donations Trust Fund and the Brownfield Property Ownership
83	Clearance Assistance Revolving Loan Trust Fund to contract for
84	the administration of the programs, or portions of the programs,
85	enumerated in this paragraph or assigned to the office by law,
86	by the appropriations process, or by the Governor. Such
87	expenditures shall be subject to review under chapter 216.
88	2.  The office may enter into contracts in connection with
89	the fulfillment of its duties concerning the Florida First
90	Business Bond Pool under chapter 159, tax incentives under
91	chapters 212 and 220, tax incentives under the Certified Capital
92	Company Act in chapter 288, foreign offices under chapter 288,
93	the Enterprise Zone program under chapter 290, the Seaport
94	Employment Training program under chapter 311, the Florida
95	Professional Sports Team License Plates under chapter 320,
96	Spaceport Florida under chapter 331, Expedited Permitting under
97	chapter 403, and in carrying out other functions that are
98	specifically assigned to the office by law, by the
99	appropriations process, or by the Governor.
100	Section 2.  Paragraph (q) of subsection (5) of section
101	212.08, Florida Statutes, is amended, and paragraph (r) is added
102	to that subsection, to read:
103	212.08  Sales, rental, use, consumption, distribution, and
104	storage tax; specified exemptions.--The sale at retail, the
105	rental, the use, the consumption, the distribution, and the
106	storage to be used or consumed in this state of the following
107	are hereby specifically exempt from the tax imposed by this
108	chapter.
109	(5)  EXEMPTIONS; ACCOUNT OF USE.--
110	(q)  Community contribution tax credit for donations.--
111	1.  Authorization.--Beginning July 1, 2001, persons who are
112	registered with the department under s. 212.18 to collect or
113	remit sales or use tax and who make donations to eligible
114	sponsors are eligible for tax credits against their state sales
115	and use tax liabilities as provided in this paragraph:
116	a.  The credit shall be computed as 50 percent of the
117	person's approved annual community contribution.;
118	b.  The credit shall be granted as a refund against state
119	sales and use taxes reported on returns and remitted in the 12
120	months preceding the date of application to the department for
121	the credit as required in sub-subparagraph 3.c. If the annual
122	credit is not fully used through such refund because of
123	insufficient tax payments during the applicable 12-month period,
124	the unused amount may be included in an application for a refund
125	made pursuant to sub-subparagraph 3.c. in subsequent years
126	against the total tax payments made for such year. Carryover
127	credits may be applied for a 3-year period without regard to any
128	time limitation that would otherwise apply under s. 215.26.;
129	c.  A person may not receive more than $200,000 in annual
130	tax credits for all approved community contributions made in any
131	one year.;
132	d.  All proposals for the granting of the tax credit
133	require the prior approval of the Office of Tourism, Trade, and
134	Economic Development.;
135	e.  The total amount of tax credits which may be granted
136	for all projects programs approved under this paragraph, s.
137	220.183, and s. 624.5105 is $3 $12 million annually.; and
138	f.  A person who is eligible to receive the credit provided
139	for in this paragraph, s. 220.183, or s. 624.5105 may receive
140	the credit only under the one section of the person's choice.
141	2.  Eligibility requirements.--
142	a.  A community contribution by a person must be in the
143	following form:
144	(I)  Cash or other liquid assets;
145	(II)  Real property;
146	(III)  Goods or inventory; or
147	(IV)  Other physical resources as identified by the Office
148	of Tourism, Trade, and Economic Development.
149	b.  All community contributions must be reserved
150	exclusively for use in a project. As used in this paragraph sub-
151	subparagraph, the term "project" means any activity undertaken
152	by an eligible sponsor which provides is designed to construct,
153	improve, or substantially rehabilitate housing that is
154	affordable to low-income or very-low-income households as
155	defined in s. 420.9071(19) and (28); designed to provide
156	commercial, industrial, or public resources and facilities; or
157	improves designed to improve entrepreneurial and job-development
158	opportunities for low-income persons. A project may be the
159	investment necessary to increase access to high-speed broadband
160	capability in rural communities with enterprise zones, including
161	projects that result in improvements to communications assets
162	that are owned by a business. A project may include the
163	provision of museum educational programs and materials that are
164	directly related to any project approved between January 1,
165	1996, and December 31, 1999, and located in an enterprise zone
166	designated pursuant to s. 290.0065. This paragraph does not
167	preclude projects that propose to construct or rehabilitate
168	housing for low-income or very-low-income households on
169	scattered sites. With respect to housing, contributions may be
170	used to pay the following eligible low-income and very-low-
171	income housing-related activities:
172	(I)  Project development impact and management fees for
173	low-income or very-low-income housing projects;
174	(II)  Down payment and closing costs for eligible persons,
175	as defined in s. 420.9071(19) and (28);
176	(III)  Administrative costs, including housing counseling
177	and marketing fees, not to exceed 10 percent of the community
178	contribution, directly related to low-income or very-low-income
179	projects; and
180	(IV)  Removal of liens recorded against residential
181	property by municipal, county, or special district local
182	governments when satisfaction of the lien is a necessary
183	precedent to the transfer of the property to an eligible person,
184	as defined in s. 420.9071(19) and (28), for the purpose of
185	promoting home ownership. Contributions for lien removal must be
186	received from a nonrelated third party.
187	c.  The project must be undertaken by an "eligible
188	sponsor," which includes:
189	(I)  A community action program;
190	(II)  A nonprofit community-based development organization
191	the whose mission of which includes is the provision of housing
192	for low-income or very-low-income households or increasing
193	entrepreneurial and job-development opportunities for low-income
194	persons;
195	(III)  A neighborhood housing services corporation;
196	(IV)  A local housing authority created under chapter 421;
197	(V)  A community redevelopment agency created under s.
198	163.356;
199	(IV)(VI)  The Florida Industrial Development Corporation;
200	(V)(VII)  A historic preservation district agency or
201	organization;
202	(VI)(VIII)  A regional workforce board;
203	(VII)(IX)  A direct-support organization as provided in s.
204	1009.983;
205	(VIII)(X)  An enterprise zone development agency created
206	under s. 290.0056;
207	(IX)(XI)  A community-based organization incorporated under
208	chapter 617 which is recognized as educational, charitable, or
209	scientific pursuant to s. 501(c)(3) of the Internal Revenue Code
210	and whose bylaws and articles of incorporation include
211	affordable housing, economic development, or community
212	development as the primary mission of the corporation;
213	(X)(XII)  Units of local government;
214	(XI)(XIII)  Units of state government; or
215	(XII)(XIV)  Any other agency that the Office of Tourism,
216	Trade, and Economic Development designates by rule.
217
218	In no event may a contributing person have a financial interest
219	in the eligible sponsor.
220	d.  The project must be located in an area designated an
221	enterprise zone or a Front Porch Florida Community pursuant to
222	s. 20.18(6), unless the project increases access to high-speed
223	broadband capability for rural communities with enterprise zones
224	but is physically located outside the designated rural zone
225	boundaries. Any project designed to construct or rehabilitate
226	housing for low-income or very-low-income households as defined
227	in s. 420.0971(19) and (28) is exempt from the area requirement
228	of this sub-subparagraph.
229	e.(I)  For the first 6 months of the fiscal year, the
230	Office of Tourism, Trade, and Economic Development shall reserve
231	80 percent of the first $10 million in available annual tax
232	credits and 70 percent of any available annual tax credits in
233	excess of $10 million for donations made to eligible sponsors
234	for projects that provide homeownership opportunities for low-
235	income or very-low-income households as defined in s.
236	420.9071(19) and (28). If any such reserved annual tax credits
237	remain after the first 6 months of the fiscal year, the office
238	may approve the balance of these available credits for donations
239	made to eligible sponsors for projects other than those that
240	provide homeownership opportunities for low-income or very-low-
241	income households.
242	(II)  For the first 6 months of the fiscal year, the office
243	shall reserve 20 percent of the first $10 million in available
244	annual tax credits and 30 percent of any available annual tax
245	credits in excess of $10 million for donations made to eligible
246	sponsors for projects other than those that provide
247	homeownership opportunities for low-income or very-low-income
248	households as defined in s. 420.9071(19) and (28). If any
249	reserved annual tax credits remain after the first 6 months of
250	the fiscal year, the office may approve the balance of these
251	available credits for donations made to eligible sponsors for
252	projects that provide homeownership opportunities for low-income
253	or very-low-income households.
254	(III)  If, during the first 10 business days of the state
255	fiscal year, eligible tax credit applications are received for
256	less than the available annual tax credits reserved under sub-
257	sub-subparagraph (I), the office shall grant tax credits for
258	those applications and shall grant remaining tax credits on a
259	first-come, first-served basis for any subsequent eligible
260	applications received before the end of the first 6 months of
261	the state fiscal year. If, during the first 10 business days of
262	the state fiscal year, eligible tax credit applications are
263	received for more than the available annual tax credits reserved
264	under sub-sub-subparagraph (I), the office shall grant the tax
265	credits for the applications as follows:
266	(A)  If tax credit applications submitted for approved
267	projects of an eligible sponsor do not exceed $200,000 in total,
268	the credits shall be granted in full if the tax credit
269	applications are approved, subject to sub-sub-subparagraph (I).
270	(B)  If tax credit applications submitted for approved
271	projects of an eligible sponsor exceed $200,000 in total, the
272	amount of tax credits granted pursuant to sub-sub-sub-
273	subparagraph (A) shall be subtracted from the amount of
274	available tax credits under sub-sub-subparagraph (I), and the
275	remaining credits shall be granted to each approved tax credit
276	application on a pro rata basis.
277	(C)  If, after the first 6 months of the fiscal year,
278	additional credits become available under sub-sub-subparagraph
279	(II), the office shall grant the tax credits by first granting
280	to those who received a pro rata reduction up to the full amount
281	of their request and, if there are remaining credits, granting
282	credits to those who applied on or after the 11th business day
283	of the state fiscal year on a first-come, first-served basis.
284	(IV)  If, during the first 10 business days of the state
285	fiscal year, eligible tax credit applications are received for
286	less than the available annual tax credits under sub-
287	subparagraph 1.e. reserved under sub-sub-subparagraph (II), the
288	office shall grant tax credits for those applications and shall
289	grant remaining tax credits on a first-come, first-served basis
290	for any subsequent eligible applications received before the end
291	of the first 6 months of the state fiscal year. If, during the
292	first 10 business days of the state fiscal year, eligible tax
293	credit applications are received for more than the available
294	annual tax credits under sub-subparagraph 1.e. reserved under
295	sub-sub-subparagraph (II), the office shall grant the tax
296	credits for the applications on a pro rata basis. If, after the
297	first 6 months of the fiscal year, additional credits become
298	available under sub-sub-subparagraph (I), the office shall grant
299	the tax credits by first granting to those who received a pro
300	rata reduction up to the full amount of their request and, if
301	there are remaining credits, granting credits to those who
302	applied on or after the 11th business day of the state fiscal
303	year on a first-come, first-served basis.
304	3.  Application requirements.--
305	a.  Any eligible sponsor seeking to participate in this
306	program must submit a proposal to the Office of Tourism, Trade,
307	and Economic Development which sets forth the name of the
308	sponsor, a description of the project, and the area in which the
309	project is located, together with such supporting information as
310	is prescribed by rule. The proposal must also contain a
311	resolution from the local governmental unit in which the project
312	is located certifying that the project is consistent with local
313	plans and regulations.
314	b.  Any person seeking to participate in this program must
315	submit an application for tax credit to the office of Tourism,
316	Trade, and Economic Development which sets forth the name of the
317	sponsor, a description of the project, and the type, value, and
318	purpose of the contribution. The sponsor shall verify the terms
319	of the application and indicate its receipt of the contribution,
320	which verification must be in writing and accompany the
321	application for tax credit. The person must submit a separate
322	tax credit application to the office for each individual
323	contribution that it makes to each individual project.
324	c.  Any person who has received notification from the
325	office of Tourism, Trade, and Economic Development that a tax
326	credit has been approved must apply to the department to receive
327	the refund. Application must be made on the form prescribed for
328	claiming refunds of sales and use taxes and be accompanied by a
329	copy of the notification. A person may submit only one
330	application for refund to the department within any 12-month
331	period.
332	4.  Administration.--
333	a.  The Office of Tourism, Trade, and Economic Development
334	may adopt rules pursuant to ss. 120.536(1) and 120.54 necessary
335	to administer this paragraph, including rules for the approval
336	or disapproval of proposals and tax credit applications by a
337	person.
338	b.  The decision of the office of Tourism, Trade, and
339	Economic Development must be in writing, and, if approved, the
340	notification shall state the maximum credit allowable to the
341	person. Upon approval, the office shall transmit a copy of the
342	decision to the Department of Revenue.
343	c.  The office of Tourism, Trade, and Economic Development
344	shall periodically monitor all projects in a manner consistent
345	with available resources to ensure that resources are used in
346	accordance with this paragraph; however, each project must be
347	reviewed at least once every 2 years.
348	d.  The office of Tourism, Trade, and Economic Development
349	shall, in consultation with the Department of Community Affairs,
350	the Florida Housing Finance Corporation, and the statewide and
351	regional housing and financial intermediaries, market the
352	availability of the community contribution tax credit program to
353	community-based organizations.
354	5.  Expiration.--This paragraph expires June 30, 2015;
355	however, any accrued credit carryover that is unused on that
356	date may be used until the expiration of the 3-year carryover
357	period for such credit.
358	(r)  Homeownership assistance tax credits.--
359	1.  Authorization.--Beginning July 1, 2006, persons who are
360	registered with the department under s. 212.18 to collect or
361	remit sales or use tax and who make contributions to eligible
362	sponsors are eligible for tax credits against their state sales
363	and use tax liabilities as provided in this paragraph:
364	a.  The credit shall be computed as 50 percent of the
365	person's approved annual homeownership assistance contribution.
366	b.  The credit shall be granted as a refund against state
367	sales and use taxes reported on returns and remitted in the 12
368	months preceding the date of application to the department for
369	the credit as required in sub-subparagraph 3.c. If the annual
370	credit is not fully used through such refund because of
371	insufficient tax payments during the applicable 12-month period,
372	the unused amount may be included in an application for a refund
373	made pursuant to sub-subparagraph 3.c. in subsequent years
374	against the total tax payments made for such year. Carryover
375	credits may be applied for a 3-year period without regard to any
376	time limitation that would otherwise apply under s. 215.26.
377	c.  A person may not receive more than $200,000 in annual
378	tax credits for all approved homeownership assistance
379	contributions made in any one year.
380	d.  All proposals and applications for the granting of the
381	tax credit require the prior approval of the Office of Tourism,
382	Trade, and Economic Development.
383	e.  The total amount of tax credits which may be granted
384	for all projects approved under this paragraph, s. 220.1835, and
385	s. 624.5108 is $10 million annually.
386	f.  A person who is eligible to receive the credit provided
387	for in this paragraph, s. 220.1835, or s. 624.5108 may receive
388	the credit only under the one section of the person's choice.
389	2.  Eligibility requirements.--
390	a.  A homeownership assistance contribution by a person
391	must be in the following form:
392	(I)  Cash or other liquid assets;
393	(II)  Real property;
394	(III)  Goods or inventory; or
395	(IV)  Other physical resources as identified by the Office
396	of Tourism, Trade, and Economic Development.
397	b.  All homeownership assistance contributions must be
398	reserved exclusively for use in a project. As used in this
399	paragraph, the term "project" means any activity undertaken by
400	an eligible sponsor to construct, improve, or substantially
401	rehabilitate housing that provides affordable homeownership
402	opportunities to low-income or very-low-income households as
403	defined in s. 420.9071(19) and (28). This paragraph does not
404	preclude such projects that propose to construct or rehabilitate
405	housing for low-income or very-low-income households on
406	scattered sites. Contributions may be used for the following
407	housing-related activities:
408	(I)  Development impact and management fees for projects.
409	(II)  Down payment and closing costs for eligible persons,
410	as defined in s. 420.9071(19) and (28).
411	(III)  Administrative costs, including housing counseling
412	and marketing fees, not to exceed 10 percent of the
413	homeownership assistance contribution, directly related to
414	projects.
415	(IV)  Removal of liens recorded against residential
416	property by municipal, county, or special district local
417	governments when satisfaction of the lien is a necessary
418	precedent to the transfer of the property to an eligible person,
419	as defined in s. 420.9071(19) and (28), for the purpose of
420	promoting homeownership. Contributions for lien removal must be
421	received from an unrelated third party.
422	c.  The project must be undertaken by an "eligible
423	sponsor," which includes:
424	(I)  A community action program;
425	(II)  A nonprofit community-based development organization
426	the mission of which includes providing affordable homeownership
427	opportunities for low-income or very-low-income households;
428	(III)  A neighborhood housing services corporation;
429	(IV)  A local housing authority created under chapter 421;
430	(V)  A community redevelopment agency created under s.
431	163.356;
432	(VI)  A historic preservation district agency or
433	organization;
434	(VII)  A direct-support organization as provided in s.
435	1009.983;
436	(VIII)  An enterprise zone development agency created under
437	s. 290.0056;
438	(IX)  A community-based organization incorporated under
439	chapter 617 which is recognized as educational, charitable, or
440	scientific pursuant to s. 501(c)(3) of the Internal Revenue Code
441	and whose bylaws and articles of incorporation include
442	affordable housing as the primary mission of the corporation;
443	(X)  Units of local government;
444	(XI)  Units of state government; or
445	(XII)  Any other agency that the Office of Tourism, Trade,
446	and Economic Development designates by rule.
447
448	In no event may a contributing person have a financial interest
449	in the eligible sponsor.
450	d.  If, during the first 10 business days of the state
451	fiscal year, eligible tax credit applications are received for
452	less than the available annual tax credits under sub-
453	subparagraph 1.e., the office shall grant tax credits for those
454	applications and shall grant remaining tax credits on a first-
455	come, first-served basis for any subsequent eligible
456	applications received before the end of the state fiscal year.
457	If, during the first 10 business days of the state fiscal year,
458	eligible tax credit applications are received for more than the
459	available annual tax credits under sub-subparagraph 1.e., the
460	office shall grant the tax credits for the applications as
461	follows:
462	(I)  If tax credit applications submitted for approved
463	projects of an eligible sponsor do not exceed $200,000 in total,
464	the credits shall be granted in full if the tax credit
465	applications are approved.
466	(II)  If tax credit applications submitted for approved
467	projects of an eligible sponsor exceed $200,000 in total, the
468	amount of tax credits granted pursuant to sub-sub-subparagraph
469	(I) shall be subtracted from the amount of available tax credits
470	under subparagraph 1.e., and the remaining credits shall be
471	granted to each approved tax credit application on a pro rata
472	basis.
473	3.  Application and distribution requirements.--
474	a.  Any eligible sponsor seeking to participate in this
475	program must submit a proposal to the Office of Tourism, Trade,
476	and Economic Development which sets forth the name of the
477	sponsor, a description of the project, and the area in which the
478	project is located, together with such supporting information as
479	is prescribed by rule. The proposal must also contain a
480	resolution from the local governmental unit in which the project
481	is located certifying that the project is consistent with local
482	plans and regulations.
483	b.  Any person seeking to participate in this program must
484	submit an application for tax credit to the office which sets
485	forth the name of the sponsor, a description of the project, and
486	the type, value, and purpose of the contribution. The sponsor
487	shall verify the terms of the application and indicate its
488	receipt of the contribution, which verification must be in
489	writing and accompany the application for tax credit. The person
490	must submit a separate tax credit application to the office for
491	each individual contribution that it makes to each individual
492	project.
493	c.  Any person who has received notification from the
494	office that a tax credit has been approved must apply to the
495	department to receive the refund. Application must be made on
496	the form prescribed for claiming refunds of sales and use taxes
497	and be accompanied by a copy of the notification. A person may
498	submit only one application for refund to the department within
499	any 12-month period.
500	4.  Administration.--
501	a.  The Office of Tourism, Trade, and Economic Development
502	may adopt rules pursuant to ss. 120.536(1) and 120.54 necessary
503	to administer this paragraph, including rules for the approval
504	or disapproval of proposals and tax credit applications.
505	b.  The decision of the office must be in writing, and, if
506	approved, the notification shall state the maximum credit
507	allowable to the person. Upon approval, the office shall
508	transmit a copy of the decision to the Department of Revenue.
509	c.  The office shall periodically monitor all projects in a
510	manner consistent with available resources to ensure that
511	resources are used in accordance with this paragraph; however,
512	each project must be reviewed at least once every 2 years.
513	d.  The office shall, in consultation with the Department
514	of Community Affairs, the Florida Housing Finance Corporation,
515	and the statewide and regional housing and financial
516	intermediaries, market the availability of the homeownership
517	assistance contribution tax credit program to community-based
518	organizations.
519	5.  Expiration.--This paragraph expires June 30, 2015;
520	however, any accrued credit carryover that is unused on that
521	date may be used until the expiration of the 3-year carryover
522	period for such credit.
523	Section 3.  Subsection (8) of section 220.02, Florida
524	Statutes, is amended to read:
525	220.02  Legislative intent.--
526	(8)  It is the intent of the Legislature that credits
527	against either the corporate income tax or the franchise tax be
528	applied in the following order: those enumerated in s. 631.828,
529	those enumerated in s. 220.191, those enumerated in s. 220.181,
530	those enumerated in s. 220.1835, those enumerated in s. 220.183,
531	those enumerated in s. 220.182, those enumerated in s. 220.1895,
532	those enumerated in s. 221.02, those enumerated in s. 220.184,
533	those enumerated in s. 220.186, those enumerated in s. 220.1845,
534	those enumerated in s. 220.19, those enumerated in s. 220.185,
535	and those enumerated in s. 220.187.
536	Section 4.  Paragraphs (c), (d), (i), (k), (p), (t), and
537	(u) of subsection (1) and paragraph (c) of subsection (5) of
538	section 220.03, Florida Statutes, are amended, and present
539	paragraphs (e) through (s) and (u) through (gg) of subsection
540	(1) are redesignated as paragraphs (d) through (ee) of that
541	subsection, respectively, to read:
542	220.03  Definitions.--
543	(1)  SPECIFIC TERMS.--When used in this code, and when not
544	otherwise distinctly expressed or manifestly incompatible with
545	the intent thereof, the following terms shall have the following
546	meanings:
547	(c)  "Business" or "business firm" means any business
548	entity authorized to do business in this state as defined in
549	paragraph (d)(e), and any bank or savings and loan association
550	as defined in s. 220.62, subject to the tax imposed by the
551	provisions of this chapter. This paragraph expires on the date
552	specified in s. 290.016 for the expiration of the Florida
553	Enterprise Zone Act.
554	(d)  "Community contribution" means the grant by a business
555	firm of any of the following items:
556	1.  Cash or other liquid assets.
557	2.  Real property.
558	3.  Goods or inventory.
559	4.  Other physical resources as identified by the
560	department.
561
562	This paragraph expires on the date specified in s. 290.016 for
563	the expiration of the Florida Enterprise Zone Act.
564	(h)(i)  "Emergency," as used in s. 220.02 and in paragraph
565	(s)(u) of this subsection, means occurrence of widespread or
566	severe damage, injury, or loss of life or property proclaimed
567	pursuant to s. 14.022 or declared pursuant to s. 252.36. This
568	paragraph expires on the date specified in s. 290.016 for the
569	expiration of the Florida Enterprise Zone Act.
570	(j)(k)  "Expansion of an existing business," for the
571	purposes of the enterprise zone property tax credit, means any
572	business entity authorized to do business in this state as
573	defined in paragraph (d)(e), and any bank or savings and loan
574	association as defined in s. 220.62, subject to the tax imposed
575	by the provisions of this chapter, located in an enterprise
576	zone, which expands by or through additions to real and personal
577	property and which establishes five or more new jobs to employ
578	five or more additional full-time employees at such location.
579	This paragraph expires on the date specified in s. 290.016 for
580	the expiration of the Florida Enterprise Zone Act.
581	(o)(p)  "New business," for the purposes of the enterprise
582	zone property tax credit, means any business entity authorized
583	to do business in this state as defined in paragraph (d)(e), or
584	any bank or savings and loan association as defined in s.
585	220.62, subject to the tax imposed by the provisions of this
586	chapter, first beginning operations on a site located in an
587	enterprise zone and clearly separate from any other commercial
588	or industrial operations owned by the same entity, bank, or
589	savings and loan association and which establishes five or more
590	new jobs to employ five or more additional full-time employees
591	at such location. This paragraph expires on the date specified
592	in s. 290.016 for the expiration of the Florida Enterprise Zone
593	Act.
594	(t)  "Project" means any activity undertaken by an eligible
595	sponsor, as defined in s. 220.183(2)(c), which is designed to
596	construct, improve, or substantially rehabilitate housing that
597	is affordable to low-income or very-low-income households as
598	defined in s. 420.9071(19) and (28); designed to provide
599	commercial, industrial, or public resources and facilities; or
600	designed to improve entrepreneurial and job-development
601	opportunities for low-income persons. A project may be the
602	investment necessary to increase access to high-speed broadband
603	capability in rural communities with enterprise zones, including
604	projects that result in improvements to communications assets
605	that are owned by a business. A project may include the
606	provision of museum educational programs and materials that are
607	directly related to any project approved between January 1,
608	1996, and December 31, 1999, and located in an enterprise zone
609	designated pursuant to s. 290.0065. This paragraph does not
610	preclude projects that propose to construct or rehabilitate low-
611	income or very-low-income housing on scattered sites. With
612	respect to housing, contributions may be used to pay the
613	following eligible project-related activities:
614	1.  Project development, impact, and management fees for
615	low-income or very-low-income housing projects;
616	2.  Down payment and closing costs for eligible persons, as
617	defined in s. 420.9071(19) and (28);
618	3.  Administrative costs, including housing counseling and
619	marketing fees, not to exceed 10 percent of the community
620	contribution, directly related to low-income or very-low-income
621	projects; and
622	4.  Removal of liens recorded against residential property
623	by municipal, county, or special-district local governments when
624	satisfaction of the lien is a necessary precedent to the
625	transfer of the property to an eligible person, as defined in s.
626	420.9071(19) and (28), for the purpose of promoting home
627	ownership. Contributions for lien removal must be received from
628	a nonrelated third party.
629
630	The provisions of this paragraph shall expire and be void on
631	June 30, 2015.
632	(s)(u)  "Rebuilding of an existing business" means
633	replacement or restoration of real or tangible property
634	destroyed or damaged in an emergency, as defined in paragraph
635	(h)(i), after July 1, 1995, in an enterprise zone, by a business
636	entity authorized to do business in this state as defined in
637	paragraph (d)(e), or a bank or savings and loan association as
638	defined in s. 220.62, subject to the tax imposed by the
639	provisions of this chapter, located in the enterprise zone. This
640	paragraph expires on the date specified in s. 290.016 for the
641	expiration of the Florida Enterprise Zone Act.
642	(5)
643	(c)  A taxpayer may make an election, in the manner
644	prescribed by the department, by August 26, 1982, or a taxpayer
645	filing an initial return may make an election upon filing the
646	first return for the tax due under this chapter, whichever is
647	later, to report and pay the tax levied by this chapter as if:
648	1.  The Internal Revenue Code of 1954, as amended and in
649	effect on January 1, 1980, is in effect indefinitely thereafter;
650	and
651	2.  Solely for the purpose of computing depreciation
652	deductions, the provisions of chapter 220, Florida Statutes,
653	1980 Supplement, are in effect indefinitely thereafter.
654
655	For the purposes of taxation of taxpayers who make the election
656	provided for in this paragraph, the Internal Revenue Code of
657	1954, as amended and in effect on January 1, 1980, shall
658	include, for tax years beginning on or after January 1, 1982,
659	the provisions of the Foreign Investment in Real Property Tax
660	Act of 1980, Subtitle C of Title XI of Pub. L. No. 96-499 and
661	the amendments to those provisions codified in the Internal
662	Revenue Code, as defined in paragraph (1)(m)(n). Taxpayers may
663	one time only revoke an election made pursuant to this
664	paragraph, in accordance with rules formulated by the
665	department. Such revocation shall be prospective in nature, and
666	all transactions and events occurring during the period during
667	which the election provided for in this paragraph is in effect
668	and the continuing tax ramifications of such events and
669	transactions shall be governed by the provisions of this
670	paragraph.
671	Section 5.  Paragraph (t) of subsection (1) of section
672	220.03, Florida Statutes, as amended by chapter 2005-287, Laws
673	of Florida, is amended to read:
674	220.03  Definitions.--
675	(1)  SPECIFIC TERMS.--When used in this code, and when not
676	otherwise distinctly expressed or manifestly incompatible with
677	the intent thereof, the following terms shall have the following
678	meanings:
679	(t)  "Project" means any activity undertaken by an eligible
680	sponsor, as defined in s. 220.183(2)(c), which is designed to
681	construct, improve, or substantially rehabilitate housing that
682	is affordable to low-income or very-low-income households as
683	defined in s. 420.9071(19) and (28); designed to provide
684	commercial, industrial, or public resources and facilities; or
685	designed to improve entrepreneurial and job-development
686	opportunities for low-income persons. A project may be the
687	investment necessary to increase access to high-speed broadband
688	capability in rural communities with enterprise zones, including
689	projects that result in improvements to communications assets
690	that are owned by a business. A project may include the
691	provision of museum educational programs and materials that are
692	directly related to any project approved between January 1,
693	1996, and December 31, 1999, and located in an enterprise zone
694	designated pursuant to s. 290.0065. This paragraph does not
695	preclude projects that propose to construct or rehabilitate low-
696	income or very-low-income housing on scattered sites. With
697	respect to housing, contributions may be used to pay the
698	following eligible project-related activities:
699	1.  Project development, impact, and management fees for
700	low-income or very-low-income housing projects;
701	2.  Down payment and closing costs for eligible persons, as
702	defined in s. 420.9071(19) and (28);
703	3.  Administrative costs, including housing counseling and
704	marketing fees, not to exceed 10 percent of the community
705	contribution, directly related to low-income or very-low-income
706	projects; and
707	4.  Removal of liens recorded against residential property
708	by municipal, county, or special-district local governments when
709	satisfaction of the lien is a necessary precedent to the
710	transfer of the property to an eligible person, as defined in s.
711	420.9071(19) and (28), for the purpose of promoting home
712	ownership. Contributions for lien removal must be received from
713	a nonrelated third party.
714
715	This paragraph expires on the date specified in s. 290.016 for
716	the expiration of the Florida Enterprise Zone Act.
717	Section 6.  Paragraph (c) of subsection (1) and subsections
718	(2) through (4) of section 220.183, Florida Statutes, are
719	amended to read:
720	220.183  Community contribution tax credit.--
721	(1)  AUTHORIZATION TO GRANT COMMUNITY CONTRIBUTION TAX
722	CREDITS; LIMITATIONS ON INDIVIDUAL CREDITS AND PROGRAM
723	SPENDING.--
724	(c)  The total amount of tax credit which may be granted
725	for all projects programs approved under this section, s.
726	212.08(5)(q), and s. 624.5105 is $3 $12 million annually.
727	(2)  ELIGIBILITY REQUIREMENTS.--The eligibility of
728	projects, sponsors, and community contributions to qualify for
729	tax credits under this program shall be the same as specified in
730	s. 212.08(5)(q).
731	(a)  All community contributions by a business firm shall
732	be in the form specified in s. 220.03(1)(d).
733	(b)1.  All community contributions must be reserved
734	exclusively for use in projects as defined in s. 220.03(1)(t).
735	2.  For the first 6 months of the fiscal year, the Office
736	of Tourism, Trade, and Economic Development shall reserve 80
737	percent of the first $10 million in available annual tax
738	credits, and 70 percent of any available annual tax credits in
739	excess of $10 million, for donations made to eligible sponsors
740	for projects that provide homeownership opportunities for low-
741	income or very-low-income households as defined in s.
742	420.9071(19) and (28). If any reserved annual tax credits remain
743	after the first 6 months of the fiscal year, the office may
744	approve the balance of these available credits for donations
745	made to eligible sponsors for projects other than those that
746	provide homeownership opportunities for low-income or very-low-
747	income households.
748	3.  For the first 6 months of the fiscal year, the office
749	shall reserve 20 percent of the first $10 million in available
750	annual tax credits, and 30 percent of any available annual tax
751	credits in excess of $10 million, for donations made to eligible
752	sponsors for projects other than those that provide
753	homeownership opportunities for low-income or very-low-income
754	households as defined in s. 420.9071(19) and (28). If any
755	reserved annual tax credits remain after the first 6 months of
756	the fiscal year, the office may approve the balance of these
757	available credits for donations made to eligible sponsors for
758	projects that provide homeownership opportunities for low-income
759	or very-low-income households.
760	4.  If, during the first 10 business days of the state
761	fiscal year, eligible tax credit applications are received for
762	less than the available annual tax credits reserved under
763	subparagraph 2., the office shall grant tax credits for those
764	applications and shall grant remaining tax credits on a first-
765	come, first-served basis for any subsequent eligible
766	applications received before the end of the first 6 months of
767	the state fiscal year. If, during the first 10 business days of
768	the state fiscal year, eligible tax credit applications are
769	received for more than the available annual tax credits reserved
770	under subparagraph 2., the office shall grant the tax credits
771	for such applications as follows:
772	a.  If tax credit applications submitted for approved
773	projects of an eligible sponsor do not exceed $200,000 in total,
774	the credit shall be granted in full if the tax credit
775	applications are approved, subject to the provisions of
776	subparagraph 2.
777	b.  If tax credit applications submitted for approved
778	projects of an eligible sponsor exceed $200,000 in total, the
779	amount of tax credits granted under sub-subparagraph a. shall be
780	subtracted from the amount of available tax credits under
781	subparagraph 2., and the remaining credits shall be granted to
782	each approved tax credit application on a pro rata basis.
783	c.  If, after the first 6 months of the fiscal year,
784	additional credits become available pursuant to subparagraph 3.,
785	the office shall grant the tax credits by first granting to
786	those who received a pro rata reduction up to the full amount of
787	their request and, if there are remaining credits, granting
788	credits to those who applied on or after the 11th business day
789	of the state fiscal year on a first-come, first-served basis.
790	5.  If, during the first 10 business days of the state
791	fiscal year, eligible tax credit applications are received for
792	less than the available annual tax credits reserved under
793	subparagraph 3., the office shall grant tax credits for those
794	applications and shall grant remaining tax credits on a first-
795	come, first-served basis for any subsequent eligible
796	applications received before the end of the first 6 months of
797	the state fiscal year. If, during the first 10 business days of
798	the state fiscal year, eligible tax credit applications are
799	received for more than the available annual tax credits reserved
800	under subparagraph 3., the office shall grant the tax credits
801	for such applications on a pro rata basis. If, after the first 6
802	months of the fiscal year, additional credits become available
803	under subparagraph 2., the office shall grant the tax credits by
804	first granting to those who received a pro rata reduction up to
805	the full amount of their request and, if there are remaining
806	credits, granting credits to those who applied on or after the
807	11th business day of the state fiscal year on a first-come,
808	first-served basis.
809	(c)  The project must be undertaken by an "eligible
810	sponsor," defined here as:
811	1.  A community action program;
812	2.  A nonprofit community-based development organization
813	whose mission is the provision of housing for low-income or
814	very-low-income households or increasing entrepreneurial and
815	job-development opportunities for low-income persons;
816	3.  A neighborhood housing services corporation;
817	4.  A local housing authority, created pursuant to chapter
818	421;
819	5.  A community redevelopment agency, created pursuant to
820	s. 163.356;
821	6.  The Florida Industrial Development Corporation;
822	7.  An historic preservation district agency or
823	organization;
824	8.  A regional workforce board;
825	9.  A direct-support organization as provided in s.
826	1009.983;
827	10.  An enterprise zone development agency created pursuant
828	to s. 290.0056;
829	11.  A community-based organization incorporated under
830	chapter 617 which is recognized as educational, charitable, or
831	scientific pursuant to s. 501(c)(3) of the Internal Revenue Code
832	and whose bylaws and articles of incorporation include
833	affordable housing, economic development, or community
834	development as the primary mission of the corporation;
835	12.  Units of local government;
836	13.  Units of state government; or
837	14.  Such other agency as the Office of Tourism, Trade, and
838	Economic Development may, from time to time, designate by rule.
839
840	In no event shall a contributing business firm have a financial
841	interest in the eligible sponsor.
842	(d)  The project shall be located in an area designated as
843	an enterprise zone or a Front Porch Florida Community pursuant
844	to s. 20.18(6). Any project designed to construct or
845	rehabilitate housing for low-income or very-low-income
846	households as defined in s. 420.9071(19) and (28) is exempt from
847	the area requirement of this paragraph. This section does not
848	preclude projects that propose to construct or rehabilitate
849	housing for low-income or very-low-income households on
850	scattered sites. Any project designed to provide increased
851	access to high-speed broadband capabilities which includes
852	coverage of a rural enterprise zone may locate the project's
853	infrastructure in any area of a rural county.
854	(3)  APPLICATION AND DISTRIBUTION REQUIREMENTS.--The
855	proposal and application requirements for sponsors and for
856	business firms wishing to participate in this program, and the
857	method for granting tax credits, shall be the same as specified
858	in s. 212.08(5)(q).
859	(a)  Any eligible sponsor wishing to participate in this
860	program must submit a proposal to the Office of Tourism, Trade,
861	and Economic Development which sets forth the sponsor, the
862	project, the area in which the project is located, and such
863	supporting information as may be prescribed by rule. The
864	proposal shall also contain a resolution from the local
865	governmental unit in which it is located certifying that the
866	project is consistent with local plans and regulations.
867	(b)  Any business wishing to participate in this program
868	must submit an application for tax credit to the Office of
869	Tourism, Trade, and Economic Development, which application sets
870	forth the sponsor; the project; and the type, value, and purpose
871	of the contribution. The sponsor shall verify the terms of the
872	application and indicate its receipt of the contribution, which
873	verification must be in writing and accompany the application
874	for tax credit.
875	(c)  The business firm must submit a separate application
876	for tax credit for each individual contribution that it makes to
877	each individual project.
878	(4)  ADMINISTRATION.--
879	(a)  The Office of Tourism, Trade, and Economic Development
880	may has authority to adopt rules pursuant to ss. 120.536(1) and
881	120.54 to implement the provisions of this section, including
882	rules for the approval or disapproval of proposals and of tax
883	credit applications by business firms.
884	(b)  The decision of the Office of Tourism, Trade, and
885	Economic Development shall be in writing, and, if approved, the
886	notification must state the maximum credit allowable to the
887	business firm. A copy of the decision shall be transmitted to
888	the executive director of the Department of Revenue, who shall
889	apply such credit to the tax liability of the business firm.
890	(c)  The Office of Tourism, Trade, and Economic Development
891	shall periodically monitor all projects in a manner consistent
892	with available resources to ensure that resources are utilized
893	in accordance with this section; however, each project shall be
894	reviewed no less often than once every 2 years.
895	(d)  The Department of Revenue may has authority to adopt
896	rules pursuant to ss. 120.536(1) and 120.54 to implement the
897	provisions of this section.
898	(e)  The Office of Tourism, Trade, and Economic Development
899	shall, in consultation with the Department of Community Affairs,
900	the Florida Housing Finance Corporation, and the statewide and
901	regional housing and financial intermediaries, market the
902	availability of the community contribution tax credit program to
903	community-based organizations.
904	Section 7.  Section 220.1835, Florida Statutes, is created
905	to read:
906	220.1835  Homeownership assistance tax credits.--
907	(1)  AUTHORIZATION TO GRANT HOMEOWNERSHIP ASSISTANCE TAX
908	CREDITS; LIMITATIONS ON INDIVIDUAL CREDITS AND PROGRAM
909	SPENDING.--
910	(a)  There shall be allowed a credit of 50 percent of a
911	homeownership assistance contribution against any tax due for a
912	taxable year under this chapter.
913	(b)  No business firm shall receive more than $200,000 in
914	annual tax credits for all approved homeownership assistance
915	contributions made in any one year.
916	(c)  The total amount of tax credit which may be granted
917	for all projects approved under this section, s. 212.08(5)(r),
918	and s. 624.5108 is $10 million annually.
919	(d)  All proposals and applications for the granting of the
920	tax credit shall require the prior approval of the Office of
921	Tourism, Trade, and Economic Development.
922	(e)  If the credit granted pursuant to this section is not
923	fully used in any one year because of insufficient tax liability
924	on the part of the business firm, the unused amount may be
925	carried forward for a period not to exceed 5 years. The
926	carryover credit may be used in a subsequent year when the tax
927	imposed by this chapter for such year exceeds the credit for
928	such year under this section after applying the other credits
929	and unused credit carryovers in the order provided in s.
930	220.02(8).
931	(f)  A taxpayer who files a Florida consolidated return as
932	a member of an affiliated group pursuant to s. 220.131(1) may be
933	allowed the credit on a consolidated return basis.
934	(g)  A taxpayer who is eligible to receive the credit
935	provided for in s. 624.5108 is not eligible to receive the
936	credit provided by this section.
937	(2)  ELIGIBILITY REQUIREMENTS.--The eligibility of
938	projects, sponsors, and homeownership assistance contributions
939	to qualify for tax credits under this program shall be the same
940	as specified in s. 212.08(5)(r).
941	(3)  APPLICATION AND DISTRIBUTION REQUIREMENTS.--The
942	proposal and application requirements for sponsors and for
943	business firms wishing to participate in this program, and the
944	method for granting tax credits, shall be the same as specified
945	in s. 212.08(5)(r).
946	(4)  ADMINISTRATION.--
947	(a)  The Office of Tourism, Trade, and Economic Development
948	may adopt rules pursuant to ss. 120.536(1) and 120.54 to
949	implement the provisions of this section, including rules for
950	the approval or disapproval of proposals and of tax credit
951	applications.
952	(b)  The decision of the office shall be in writing, and,
953	if approved, the notification must state the maximum credit
954	allowable to the business firm. A copy of the decision shall be
955	transmitted to the executive director of the Department of
956	Revenue, who shall apply such credit to the tax liability of the
957	business firm.
958	(c)  The office shall periodically monitor all projects in
959	a manner consistent with available resources to ensure that
960	resources are utilized in accordance with this section; however,
961	each project shall be reviewed no less often than once every 2
962	years.
963	(d)  The Department of Revenue may adopt rules pursuant to
964	ss. 120.536(1) and 120.54 to implement the provisions of this
965	section.
966	(e)  The office shall, in consultation with the Department
967	of Community Affairs, the Florida Housing Finance Corporation,
968	and the statewide and regional housing and financial
969	intermediaries, market the availability of the homeownership
970	assistance contribution tax credit program to community-based
971	organizations.
972	(5)  EXPIRATION.--The provisions of this section, except
973	paragraph (1)(e), shall expire and be void on June 30, 2015.
974	Section 8.  Paragraph (c) of subsection (1) and subsections
975	(2) through (6) of section 624.5105, Florida Statutes, are
976	amended to read:
977	624.5105  Community contribution tax credit; authorization;
978	limitations; eligibility and application requirements;
979	administration; definitions; expiration.--
980	(1)  AUTHORIZATION TO GRANT TAX CREDITS; LIMITATIONS.--
981	(c)  The total amount of tax credit which may be granted
982	for all projects programs approved under this section and ss.
983	212.08(5)(q) and 220.183 is $3 $12 million annually.
984	(2)  ELIGIBILITY REQUIREMENTS.--The eligibility of
985	projects, sponsors, and community contributions to qualify for
986	tax credits under this program shall be the same as specified in
987	s. 212.08(5)(q).
988	(a)  Each community contribution by an insurer must be in a
989	form specified in subsection (5).
990	(b)  Each community contribution must be reserved
991	exclusively for use in a project as defined in s. 220.03(1)(t).
992	(c)  The project must be undertaken by an "eligible
993	sponsor," as defined in s. 220.183(2)(c). In no event shall a
994	contributing insurer have a financial interest in the eligible
995	sponsor.
996	(d)  The project shall be located in an area designated as
997	an enterprise zone or a Front Porch Community pursuant to s.
998	20.18(6). Any project designed to construct or rehabilitate
999	housing for low-income or very-low-income households as defined
1000	in s. 420.9071(19) and (28) is exempt from the area requirement
1001	of this paragraph.
1002	(e)1.  For the first 6 months of the fiscal year, the
1003	Office of Tourism, Trade, and Economic Development shall reserve
1004	80 percent of the first $10 million in available annual tax
1005	credits, and 70 percent of any available annual tax credits in
1006	excess of $10 million, for donations made to eligible sponsors
1007	for projects that provide homeownership opportunities for low-
1008	income or very-low-income households as defined in s.
1009	420.9071(19) and (28). If any such reserved annual tax credits
1010	remain after the first 6 months of the fiscal year, the office
1011	may approve the balance of these available credits for donations
1012	made to eligible sponsors for projects other than those that
1013	provide homeownership opportunities for low-income or very-low-
1014	income households.
1015	2.  For the first 6 months of the fiscal year, the office
1016	shall reserve 20 percent of the first $10 million in available
1017	annual tax credits, and 30 percent of any available annual tax
1018	credits in excess of $10 million, for donations made to eligible
1019	sponsors for projects other than those that provide
1020	homeownership opportunities for low-income or very-low-income
1021	households as defined in s. 420.9071(19) and (28). If any
1022	reserved annual tax credits remain after the first 6 months of
1023	the fiscal year, the office may approve the balance of these
1024	available credits for donations made to eligible sponsors for
1025	projects that provide homeownership opportunities for low-income
1026	or very-low-income households.
1027	3.  If, during the first 10 business days of the state
1028	fiscal year, eligible tax credit applications are received for
1029	less than the available annual tax credits reserved under
1030	subparagraph 1., the office shall grant tax credits for those
1031	applications and shall grant remaining tax credits on a first-
1032	come, first-served basis for any subsequent eligible
1033	applications received before the end of the first 6 months of
1034	the state fiscal year. If, during the first 10 business days of
1035	the state fiscal year, eligible tax credit applications are
1036	received for more than the available annual tax credits reserved
1037	under subparagraph 1., the office shall grant the tax credits
1038	for the applications as follows:
1039	a.  If tax credit applications submitted for approved
1040	projects of an eligible sponsor do not exceed $200,000 in total,
1041	the credits shall be granted in full if the tax credit
1042	applications are approved, subject to subparagraph 1.
1043	b.  If tax credit applications submitted for approved
1044	projects of an eligible sponsor exceed $200,000 in total, the
1045	amount of tax credits granted under sub-subparagraph a. shall be
1046	subtracted from the amount of available tax credits under
1047	subparagraph 1., and the remaining credits shall be granted to
1048	each approved tax credit application on a pro rata basis.
1049	c.  If, after the first 6 months of the fiscal year,
1050	additional credits become available under subparagraph 2., the
1051	office shall grant the tax credits by first granting to those
1052	who received a pro rata reduction up to the full amount of their
1053	request and, if there are remaining credits, granting credits to
1054	those who applied on or after the 11th business day of the state
1055	fiscal year on a first-come, first-served basis.
1056	4.  If, during the first 10 business days of the state
1057	fiscal year, eligible tax credit applications are received for
1058	less than the available annual tax credits reserved under
1059	subparagraph 2., the office shall grant tax credits for those
1060	applications and shall grant remaining tax credits on a first-
1061	come, first-served basis for any subsequent eligible
1062	applications received before the end of the first 6 months of
1063	the state fiscal year. If, during the first 10 business days of
1064	the state fiscal year, eligible tax credit applications are
1065	received for more than the available annual tax credits reserved
1066	under subparagraph 2., the office shall grant the tax credits
1067	for the applications on a pro rata basis. If, after the first 6
1068	months of the fiscal year, additional credits become available
1069	under subparagraph 1., the office shall grant the tax credits by
1070	first granting to those who received a pro rata reduction up to
1071	the full amount of their request and, if there are remaining
1072	credits, granting credits to those who applied on or after the
1073	11th business day of the state fiscal year on a first-come,
1074	first-served basis.
1075	(3)  APPLICATION AND DISTRIBUTION REQUIREMENTS.--The
1076	proposal and application requirements for sponsors and for
1077	insurers wishing to participate in this program, and the method
1078	for granting tax credits, shall be the same as specified in s.
1079	212.08(5)(q).
1080	(a)  Any eligible sponsor wishing to participate in this
1081	program must submit a proposal to the Office of Tourism, Trade,
1082	and Economic Development which sets forth the sponsor, the
1083	project, the area in which the project is located, and such
1084	supporting information as may be prescribed by rule. The
1085	proposal shall also contain a resolution from the local
1086	governmental unit in which the proposed project is located
1087	certifying that the project is consistent with local plans and
1088	regulations.
1089	(b)1.  Any insurer wishing to participate in this program
1090	must submit an application for tax credit to the office which
1091	sets forth the sponsor; the project; and the type, value, and
1092	purpose of the contribution. The sponsor must verify, in
1093	writing, the terms of the application and indicate its
1094	willingness to receive the contribution, which verification must
1095	accompany the application for tax credit.
1096	2.  The insurer must submit a separate application for tax
1097	credit for each individual contribution which it proposes to
1098	contribute to each individual project.
1099	(4)  ADMINISTRATION.--
1100	(a)1.  The Office of Tourism, Trade, and Economic
1101	Development may is authorized to adopt all rules necessary to
1102	administer this section, including rules for the approval or
1103	disapproval of proposals and of tax credit applications by
1104	insurers.
1105	2.  The decision of the office director shall be in
1106	writing, and, if approved, the proposal shall state the maximum
1107	credit allowable to the insurer. A copy of the decision shall be
1108	transmitted to the executive director of the Department of
1109	Revenue, who shall apply such credit to the tax liability of the
1110	insurer.
1111	3.  The office shall monitor all projects periodically, in
1112	a manner consistent with available resources to ensure that
1113	resources are utilized in accordance with this section; however,
1114	each project shall be reviewed no less frequently than once
1115	every 2 years.
1116	4.  The office of Tourism, Trade, and Economic Development
1117	shall, in consultation with the Department of Community Affairs,
1118	the Florida Housing Finance Corporation, and the statewide and
1119	regional housing and financial intermediaries, market the
1120	availability of the community contribution tax credit program to
1121	community-based organizations.
1122	(b)  The Department of Revenue shall adopt any rules
1123	necessary to ensure the orderly implementation and
1124	administration of this section.
1125	(5)  DEFINITIONS.--For the purpose of this section:
1126	(a)  "Community contribution" means the grant by an insurer
1127	of any of the following items:
1128	1.  Cash or other liquid assets.
1129	2.  Real property.
1130	3.  Goods or inventory.
1131	4.  Other physical resources which are identified by the
1132	department.
1133	(b)  "Director" means the director of the Office of
1134	Tourism, Trade, and Economic Development.
1135	(c)  "Local government" means any county or incorporated
1136	municipality in the state.
1137	(d)  "Office" means the Office of Tourism, Trade, and
1138	Economic Development.
1139	(e)  "Project" means an activity as defined in s.
1140	220.03(1)(t).
1141	(5)(6)  EXPIRATION.--The provisions of this section, except
1142	paragraph (1)(e), shall expire and be void on June 30, 2015.
1143	Section 9.  Section 624.5108, Florida Statutes, is created
1144	to read:
1145	624.5108  Homeownership assistance contribution tax
1146	credits.--
1147	(1)  AUTHORIZATION TO GRANT HOMEOWNERSHIP ASSISTANCE
1148	CONTRIBUTION TAX CREDITS; LIMITATIONS ON INDIVIDUAL CREDITS AND
1149	PROGRAM SPENDING.--
1150	(a)  There shall be allowed a credit of 50 percent of a
1151	homeownership assistance contribution against any tax due for a
1152	calendar year under s. 624.509 or s. 624.510.
1153	(b)  No insurer shall receive more than $200,000 in annual
1154	tax credits for all approved homeownership assistance
1155	contributions made in any one year.
1156	(c)  The total amount of tax credit which may be granted
1157	for all projects approved under this section and ss.
1158	212.08(5)(r) and 220.1835 is $10 million annually.
1159	(d)  All proposals and applications for the granting of the
1160	tax credit shall require the prior approval of the Office of
1161	Tourism, Trade, and Economic Development.
1162	(e)  If the credit granted pursuant to this section is not
1163	fully used in any one year because of insufficient tax liability
1164	on the part of the insurer, the unused amount may be carried
1165	forward for a period not to exceed 5 years. The carryover credit
1166	may be used in a subsequent year when the tax imposed by s.
1167	624.509 or s. 624.510 for such year exceeds the credit under
1168	this section for such year.
1169	(2)  ELIGIBILITY REQUIREMENTS.--The eligibility of
1170	projects, sponsors, and homeownership assistance contributions
1171	to qualify for tax credits under this program shall be the same
1172	as specified in s. 212.08(5)(r).
1173	(3)  APPLICATION AND DISTRIBUTION REQUIREMENTS.--The
1174	proposal and application requirements for sponsors and for
1175	insurers wishing to participate in this program, and the method
1176	of granting tax credits, shall be the same as specified in s.
1177	212.08(5)(r).
1178	(4)  ADMINISTRATION.--
1179	(a)  The Office of Tourism, Trade, and Economic Development
1180	may adopt rules pursuant to ss. 120.536(1) and 120.54 to
1181	implement the provisions of this section, including rules for
1182	the approval or disapproval of proposals and of tax credit
1183	applications.
1184	(b)  The decision of the office shall be in writing, and,
1185	if approved, the notification must state the maximum credit
1186	allowable to the insurer. A copy of the decision shall be
1187	transmitted to the executive director of the Department of
1188	Revenue, who shall apply such credit to the tax liability of the
1189	insurer.
1190	(c)  The office shall periodically monitor all projects in
1191	a manner consistent with available resources to ensure that
1192	resources are utilized in accordance with this section; however,
1193	each project shall be reviewed no less often than once every 2
1194	years.
1195	(d)  The Department of Revenue may adopt rules pursuant to
1196	ss. 120.536(1) and 120.54 to implement the provisions of this
1197	section.
1198	(e)  The office shall, in consultation with the Department
1199	of Community Affairs, the Florida Housing Finance Corporation,
1200	and the statewide and regional housing and financial
1201	intermediaries, market the availability of the homeownership
1202	assistance contribution tax credit program to community-based
1203	organizations.
1204	(5)  EXPIRATION.--The provisions of this section, except
1205	paragraph (1)(e), shall expire and be void on June 30, 2015.
1206	Section 10.  Paragraph (a) of subsection (15) of section
1207	212.06, Florida Statutes, is amended to read:
1208	212.06  Sales, storage, use tax; collectible from dealers;
1209	"dealer" defined; dealers to collect from purchasers;
1210	legislative intent as to scope of tax.--
1211	(15)(a)  When a contractor secures rock, shell, fill dirt,
1212	or similar materials from a location that he or she owns or
1213	leases and uses such materials to fulfill a real property
1214	contract on the property of another person, the contractor is
1215	the ultimate consumer of such materials and is liable for use
1216	tax thereon. This paragraph does not apply to a person or a
1217	corporation or affiliated group as defined by s. 220.03(1)(b) or
1218	(d)(e) that secures such materials from a location that he, she,
1219	or it owns for use on his, her, or its own property. The basis
1220	upon which the contractor shall remit the tax is the fair retail
1221	market value determined by establishing either the price he or
1222	she would have to pay for it on the open market or the price he
1223	or she would regularly charge if he or she sold it to other
1224	contractors or users.
1225	Section 11.  Paragraph (b) of subsection (6) and paragraph
1226	(b) of subsection (7) and of section 220.02, Florida Statutes,
1227	are amended to read:
1228	220.02  Legislative intent.--
1229	(6)
1230	(b)  Any person charged with any criminal offense arising
1231	from a civil disorder associated with an emergency, as defined
1232	in s. 220.03(1)(h)(i), and found guilty, whether or not
1233	adjudication of guilt or imposition of sentence is suspended,
1234	deferred, or withheld, is not eligible to make application for,
1235	receive, or in any other manner enjoy the benefits or any form
1236	of assistance available under chapter 80-247, Laws of Florida.
1237	(7)
1238	(b)  Any person charged with any criminal offense arising
1239	from a civil disorder associated with an emergency, as defined
1240	in s. 220.03(1)(h)(i), and found guilty, whether or not
1241	adjudication of guilt or imposition of sentence is suspended,
1242	deferred, or withheld, is not eligible to make application for,
1243	receive, or in any other manner enjoy the benefits or any form
1244	of assistance available under chapter 80-248, Laws of Florida.
1245	Section 12.  Paragraph (a) of subsection (1) of section
1246	220.181, Florida Statutes, is amended to read:
1247	220.181  Enterprise zone jobs credit.--
1248	(1)(a)  There shall be allowed a credit against the tax
1249	imposed by this chapter to any business located in an enterprise
1250	zone which demonstrates to the department that the total number
1251	of full-time jobs has increased from the average of the previous
1252	12 months. The credit shall be computed as 20 percent of the
1253	actual monthly wages paid in this state to each new employee
1254	hired when a new job has been created, as defined under s.
1255	220.03(1)(dd)(ff), unless the business is located in a rural
1256	enterprise zone, pursuant to s. 290.004(6), in which case the
1257	credit shall be 30 percent of the actual monthly wages paid. If
1258	no less than 20 percent of the employees of the business are
1259	residents of an enterprise zone, excluding temporary and part-
1260	time employees, the credit shall be computed as 30 percent of
1261	the actual monthly wages paid in this state to each new employee
1262	hired when a new job has been created, unless the business is
1263	located in a rural enterprise zone, in which case the credit
1264	shall be 45 percent of the actual monthly wages paid, for a
1265	period of up to 24 consecutive months. If the new employee hired
1266	when a new job is created is a participant in the welfare
1267	transition program, the following credit shall be a percent of
1268	the actual monthly wages paid: 40 percent for $4 above the
1269	hourly federal minimum wage rate; 41 percent for $5 above the
1270	hourly federal minimum wage rate; 42 percent for $6 above the
1271	hourly federal minimum wage rate; 43 percent for $7 above the
1272	hourly federal minimum wage rate; and 44 percent for $8 above
1273	the hourly federal minimum wage rate.
1274	Section 13.  Paragraph (a) of subsection (1) of section
1275	220.182, Florida Statutes, is amended to read:
1276	220.182  Enterprise zone property tax credit.--
1277	(1)(a)  Beginning July 1, 1995, there shall be allowed a
1278	credit against the tax imposed by this chapter to any business
1279	which establishes a new business as defined in s.
1280	220.03(1)(o)(p), expands an existing business as defined in s.
1281	220.03(1)(j)(k), or rebuilds an existing business as defined in
1282	s. 220.03(1)(s)(u) in this state. The credit shall be computed
1283	annually as ad valorem taxes paid in this state, in the case of
1284	a new business; the additional ad valorem tax paid in this state
1285	resulting from assessments on additional real or tangible
1286	personal property acquired to facilitate the expansion of an
1287	existing business; or the ad valorem taxes paid in this state
1288	resulting from assessments on property replaced or restored, in
1289	the case of a rebuilt business, including pollution and waste
1290	control facilities, or any part thereof, and including one or
1291	more buildings or other structures, machinery, fixtures, and
1292	equipment.
1293	Section 14.  Paragraph (l) of subsection (1) of section
1294	288.1045, Florida Statutes, is amended to read:
1295	288.1045  Qualified defense contractor tax refund
1296	program.--
1297	(1)  DEFINITIONS.--As used in this section:
1298	(l)  "Taxable year" means the same as in s.
1299	220.03(1)(x)(z).
1300	Section 15.  Paragraph (p) of subsection (1) of section
1301	288.106, Florida Statutes, is amended to read:
1302	288.106  Tax refund program for qualified target industry
1303	businesses.--
1304	(1)  DEFINITIONS.--As used in this section:
1305	(p)  "Taxable year" means taxable year as defined in s.
1306	220.03(1)(x)(z).
1307	Section 16.  Subsection (2) of section 290.00677, Florida
1308	Statutes, is amended to read:
1309	290.00677  Rural enterprise zones; special
1310	qualifications.--
1311	(2)  Notwithstanding the enterprise zone residency
1312	requirements set out in s. 220.03(1)(p)(q), businesses as
1313	defined by s. 220.03(1)(c), located in rural enterprise zones as
1314	defined in s. 290.004, may receive the basic minimum credit
1315	provided under s. 220.181 for creating a new job and hiring a
1316	person residing within the jurisdiction of a rural county, as
1317	defined by s. 288.106(1)(r). All other provisions of s. 220.181,
1318	including, but not limited to, those relating to the award of
1319	enhanced credits apply to such businesses.
1320	Section 17.  This act shall take effect July 1, 2006.

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