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Senator Fasano moved the following amendment:

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     Senate Amendment (with directory and title amendments)

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     Between line(s) 384 & 385

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insert:

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     (1)  DEFINITIONS.-- As used in this section:

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     (r)  "Rural county" means a county with a population of

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75,000 or fewer or a county with a population of 120,000 100,000

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of fewer which is contiguous to a county with a population of

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75,000 or fewer.

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     (4)  TAX REFUND AGREEMENT.--

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     (b)  Compliance with the terms and conditions of the

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agreement is a condition precedent for the receipt of a tax

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refund each year. The failure to comply with the terms and

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conditions of the tax refund agreement results in the loss of

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eligibility for receipt of all tax refunds previously authorized

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under this section and the revocation by the director of the

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certification of the business entity as a qualified target

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industry business, unless the business is eligible to receive and

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elects to accept a prorated refund under paragraph (5)(d) or the

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office grants the business an economic-stimulus exemption.

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     1.  A qualified target industry business may submit, in

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writing, a request to the office for an economic-stimulus

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exemption. The request must provide quantitative evidence

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demonstrating how negative economic conditions in the business's

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industry, the effects of the impact of a named hurricane or

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tropical storm, or specific acts of terrorism affecting the

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qualified target industry business have prevented the business

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from complying with the terms and conditions of its tax refund

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agreement.

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     2.  Upon receipt of a request under subparagraph 1., the

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director shall have 45 days to notify the requesting business, in

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writing, if its exemption has been granted or denied. In

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determining if an exemption should be granted, the director shall

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consider the extent to which negative economic conditions in the

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requesting business's industry, the effects of the impact of a

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named hurricane or tropical storm, or specific acts of terrorism

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affecting the qualified target industry business have prevented

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the business from complying with the terms and conditions of its

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tax refund agreement. The office shall consider current Florida

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employment statistics by industry, including whether the

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business's industry had substantial job loss during the prior

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year, when determining whether an economic stimulus exemption

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shall be granted.

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     3.  As a condition for receiving a prorated refund under

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paragraph (5)(d) or an economic-stimulus exemption under this

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paragraph, a qualified target industry business must agree to

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renegotiate its tax refund agreement with the office to, at a

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minimum, ensure that the terms of the agreement comply with

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current law and office procedures governing application for and

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award of tax refunds. Upon approving the award of a prorated

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refund or granting an economic-stimulus exemption, the office

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shall renegotiate the tax refund agreement with the business as

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required by this subparagraph. When amending the agreement of a

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business receiving an economic-stimulus exemption, the office may

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extend the duration of the agreement for a period not to exceed 2

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years.

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     4.  A qualified target industry business may submit a

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request for an economic-stimulus exemption to the office in lieu

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of any tax refund claim scheduled to be submitted after January

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1, 2008 2005, but before July 1, 2009 2006.

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     5.  A qualified target industry business that receives an

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economic-stimulus exemption may not receive a tax refund for the

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period covered by the exemption.

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====== D I R E C T O R Y  C L A U S E  A M E N D M E N T =====

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And the directory clause is amended as follows:

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     Delete line(s) 381-382

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and insert:

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     Section 1. Paragraph (r) of subsection (1), subsection (3),

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and paragraph (b) of subsection (4) of section 288.106, Florida

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Statutes, are amended to read:

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================ T I T L E  A M E N D M E N T ================

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And the title is amended as follows:

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     Delete line(s)  19    

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and insert:

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modifying the definition of rural county; application

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process to changes made by the act; modifying the criteria

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for businesses to be eligible for a an economic stimulus

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exemption; extending the application period; amending

4/15/2008  4:46:00 PM     CM.11.07707