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The Committee on Transportation and Economic Development

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Appropriations (Fasano) recommended the following amendment:

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     Senate Amendment (with title amendment)

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     Between line(s) 33 and 34,,

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insert:

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     Section 1.  Section 288.061, Florida Statutes, is created to

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read:

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     288.061 Economic development incentive application

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process.--

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     (1) In order to expedite and provide a quick review process

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for certifying economic development incentive applications under

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this part, Enterprise Florida, Inc., shall review each submitted

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application and inform the applicant if its application is not

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complete within 10 business days. Once the application is deemed

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complete, Enterprise Florida, Inc., shall have 10 business days

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to evaluate the application and recommend approval or disapproval

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to the director of the Office of Tourism, Trade, and Economic

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Development. In recommending approval, Enterprise Florida, Inc.,

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shall include in its evaluation a recommended grant award amount

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and a review of the applicant's ability to meet specific program

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criteria.

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     (2) Upon receipt of the evaluation and recommendation of

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Enterprise Florida, Inc., the Office of Tourism, Trade, and

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Economic Development shall have 10 calendar days to notify

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Enterprise Florida, Inc., if the application is not complete. The

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director shall have 35 calendar days following the time the

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recommendation is received from Enterprise Florida, Inc., to

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review the application and issue a letter of certification to the

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applicant that approves or disapproves the application and

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includes justification, unless the applicant requests an

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extension of time. The final order shall specify the total amount

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of the award, the performance conditions that must be met in

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order to obtain the award, and the schedule for payment.

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     Section 2.  Subsection (4) of section 288.063, Florida

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Statutes, is amended to read:

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     288.063  Contracts for transportation projects.--

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     (4)  The Office of Tourism, Trade, and Economic Development

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may adopt criteria by which transportation projects are to be

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reviewed and certified in accordance with s. 288.061 specified

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and identified. In approving transportation projects for funding,

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the office of Tourism, Trade, and Economic Development shall

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consider factors including, but not limited to, the cost per job

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created or retained considering the amount of transportation

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funds requested; the average hourly rate of wages for jobs

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created; the reliance on the program as an inducement for the

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project's location decision; the amount of capital investment to

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be made by the business; the demonstrated local commitment; the

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location of the project in an enterprise zone designated pursuant

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to s. 290.0055; the location of the project in a spaceport

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territory as defined in s. 331.304; the unemployment rate of the

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surrounding area; the poverty rate of the community; and the

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adoption of an economic element as part of its local

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comprehensive plan in accordance with s. 163.3177(7)(j). The

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office of Tourism, Trade, and Economic Development may contact

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any agency it deems appropriate for additional input regarding

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the approval of projects.

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     Section 3.  Subsection (3) of section 288.0655, Florida

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Statutes, is amended to read:

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     288.0655  Rural Infrastructure Fund.--

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     (3)  The office, in consultation with Enterprise Florida,

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Inc., VISIT Florida, the Department of Environmental Protection,

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and the Florida Fish and Wildlife Conservation Commission, as

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appropriate, shall review and certify applications pursuant to s.

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288.061. The review shall include an evaluation of and evaluate

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the economic benefit of the projects and their long-term

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viability. The office shall have final approval for any grant

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under this section and must make a grant decision within 30 days

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of receiving a completed application.

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     Section 4.  Paragraph (f) of subsection (2), paragraphs (b),

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(c), (d), (g), and (h) of subsection (3), paragraph (c) of

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subsection (5), and paragraphs (d) and (e) of subsection (6) of

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section 288.1045, Florida Statutes, are amended to read:

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     288.1045  Qualified defense contractor tax refund program.--

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     (2)  GRANTING OF A TAX REFUND; ELIGIBLE AMOUNTS.--

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     (f)  After entering into a tax refund agreement pursuant to

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subsection (4), a qualified applicant may:

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1. Receive refunds from the account for corporate income

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taxes due and paid pursuant to chapter 220 by that business

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beginning with the first taxable year of the business after

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entering into the agreement.

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2. Receive funds from the General Revenue Fund and the

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Economic Development Trust Fund for the following taxes due and

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paid by that business the qualified applicant beginning with the

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applicant's first taxable year that begins after entering into

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the agreement:

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     a.1. Taxes on sales, use, and other transactions paid

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pursuant to chapter 212.

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     2. Corporate income taxes paid pursuant to chapter 220.

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     b.3. Intangible personal property taxes paid pursuant to

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chapter 199.

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     c.4. Emergency excise taxes paid pursuant to chapter 221.

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     d.5. Excise taxes paid on documents pursuant to chapter

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201.

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     e.6. Ad valorem taxes paid, as defined in s. 220.03(1)(a)

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on June 1, 1996.

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     f.7. State communications services taxes administered under

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chapter 202. This provision does not apply to the gross receipts

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tax imposed under chapter 203 and administered under chapter 202

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or the local communications services tax authorized under s.

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202.19.

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However, a qualified applicant may not receive a tax refund

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pursuant to this section for any amount of credit, refund, or

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exemption granted such contractor for any of such taxes. If a

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refund for such taxes is provided by the office, which taxes are

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subsequently adjusted by the application of any credit, refund,

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or exemption granted to the qualified applicant other than that

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provided in this section, the qualified applicant shall reimburse

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the Economic Development Trust Fund for the amount of such

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credit, refund, or exemption. A qualified applicant must notify

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and tender payment to the office within 20 days after receiving a

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credit, refund, or exemption, other than that provided in this

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section. The addition of communications services taxes

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administered under chapter 202 is remedial in nature and

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retroactive to October 1, 2001. The office may make supplemental

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tax refund payments to allow for tax refunds for communications

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services taxes paid by an eligible qualified defense contractor

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after October 1, 2001.

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     (3)  APPLICATION PROCESS; REQUIREMENTS; AGENCY

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DETERMINATION.--

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     (b)  Applications for certification based on the

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consolidation of a Department of Defense contract or a new

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Department of Defense contract must be submitted to the office as

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prescribed by the office and must include, but are not limited

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to, the following information:

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     1.  The applicant's federal employer identification number,

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the applicant's Florida sales tax registration number, and the a

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notarized signature of an officer of the applicant.

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     2.  The permanent location of the manufacturing, assembling,

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fabricating, research, development, or design facility in this

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state at which the project is or is to be located.

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     3.  The Department of Defense contract numbers of the

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contract to be consolidated, the new Department of Defense

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contract number, or the "RFP" number of a proposed Department of

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Defense contract.

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     4.  The date the contract was executed or is expected to be

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executed, and the date the contract is due to expire or is

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expected to expire.

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     5.  The commencement date for project operations under the

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contract in this state.

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     6.  The number of net new full-time equivalent Florida jobs

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included in the project as of December 31 of each year and the

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average wage of such jobs.

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     7.  The total number of full-time equivalent employees

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employed by the applicant in this state.

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     8.  The percentage of the applicant's gross receipts derived

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from Department of Defense contracts during the 5 taxable years

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immediately preceding the date the application is submitted.

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     9.  The number of full-time equivalent jobs in this state to

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be retained by the project.

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     10. The estimated amount of tax refunds to be claimed for

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each fiscal year.

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     10.11. A brief statement concerning the applicant's need

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for tax refunds, and the proposed uses of such refunds by the

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applicant.

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     11.12. A resolution adopted by the governing board county

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commissioners of the county or municipality in which the project

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will be located, which recommends that the applicant be approved

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as a qualified applicant, and which indicates that the necessary

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commitments of local financial support for the applicant exist.

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Prior to the adoption of the resolution, the county commission

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may review the proposed public or private sources of such support

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and determine whether the proposed sources of local financial

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support can be provided or, for any applicant whose project is

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located in a county designated by the Rural Economic Development

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Initiative, a resolution adopted by the county commissioners of

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such county requesting that the applicant's project be exempt

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from the local financial support requirement.

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     12.13. Any additional information requested by the office.

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     (c)  Applications for certification based on the conversion

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of defense production jobs to nondefense production jobs must be

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submitted to the office as prescribed by the office and must

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include, but are not limited to, the following information:

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     1.  The applicant's federal employer identification number,

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the applicant's Florida sales tax registration number, and a

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notarized signature of an officer of the applicant.

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     2.  The permanent location of the manufacturing, assembling,

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fabricating, research, development, or design facility in this

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state at which the project is or is to be located.

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     3.  The Department of Defense contract numbers of the

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contract under which the defense production jobs will be

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converted to nondefense production jobs.

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     4.  The date the contract was executed, and the date the

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contract is due to expire or is expected to expire, or was

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canceled.

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     5.  The commencement date for the nondefense production

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operations in this state.

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     6.  The number of net new full-time equivalent Florida jobs

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included in the nondefense production project as of December 31

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of each year and the average wage of such jobs.

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     7.  The total number of full-time equivalent employees

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employed by the applicant in this state.

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     8.  The percentage of the applicant's gross receipts derived

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from Department of Defense contracts during the 5 taxable years

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immediately preceding the date the application is submitted.

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     9.  The number of full-time equivalent jobs in this state to

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be retained by the project.

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     10. The estimated amount of tax refunds to be claimed for

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each fiscal year.

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     10.11. A brief statement concerning the applicant's need

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for tax refunds, and the proposed uses of such refunds by the

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applicant.

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     11.12. A resolution adopted by the governing board county

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commissioners of the county or municipality in which the project

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will be located, which recommends that the applicant be approved

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as a qualified applicant, and which indicates that the necessary

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commitments of local financial support for the applicant exist.

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Prior to the adoption of the resolution, the county commission

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may review the proposed public or private sources of such support

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and determine whether the proposed sources of local financial

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support can be provided or, for any applicant whose project is

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located in a county designated by the Rural Economic Development

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Initiative, a resolution adopted by the county commissioners of

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such county requesting that the applicant's project be exempt

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from the local financial support requirement.

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     12.13. Any additional information requested by the office.

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     (d)  Applications for certification based on a contract for

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reuse of a defense-related facility must be submitted to the

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office as prescribed by the office and must include, but are not

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limited to, the following information:

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     1.  The applicant's Florida sales tax registration number

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and the a notarized signature of an officer of the applicant.

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     2.  The permanent location of the manufacturing, assembling,

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fabricating, research, development, or design facility in this

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state at which the project is or is to be located.

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     3.  The business entity holding a valid Department of

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Defense contract or branch of the Armed Forces of the United

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States that previously occupied the facility, and the date such

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entity last occupied the facility.

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     4.  A copy of the contract to reuse the facility, or such

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alternative proof as may be prescribed by the office that the

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applicant is seeking to contract for the reuse of such facility.

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     5.  The date the contract to reuse the facility was executed

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or is expected to be executed, and the date the contract is due

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to expire or is expected to expire.

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     6.  The commencement date for project operations under the

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contract in this state.

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     7.  The number of net new full-time equivalent Florida jobs

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included in the project as of December 31 of each year and the

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average wage of such jobs.

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     8.  The total number of full-time equivalent employees

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employed by the applicant in this state.

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     9.  The number of full-time equivalent jobs in this state to

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be retained by the project.

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     10. The estimated amount of tax refunds to be claimed for

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each fiscal year.

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     10.11. A brief statement concerning the applicant's need

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for tax refunds, and the proposed uses of such refunds by the

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applicant.

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     11.12. A resolution adopted by the governing board county

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commissioners of the county or municipality in which the project

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will be located, which recommends that the applicant be approved

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as a qualified applicant, and which indicates that the necessary

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commitments of local financial support for the applicant exist.

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Prior to the adoption of the resolution, the county commission

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may review the proposed public or private sources of such support

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and determine whether the proposed sources of local financial

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support can be provided or, for any applicant whose project is

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located in a county designated by the Rural Economic Development

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Initiative, a resolution adopted by the county commissioners of

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such county requesting that the applicant's project be exempt

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from the local financial support requirement.

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     12.13. Any additional information requested by the office.

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     (g) Applications shall be reviewed and certified pursuant

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to s. 288.061. If appropriate, the director shall enter into a

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written agreement with the qualified applicant pursuant to

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subsection (4). The office shall forward its written findings and

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evaluation on each application meeting the requirements of

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paragraphs (b) and (e), paragraphs (c) and (e), or paragraphs (d)

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and (e) to the director within 60 calendar days after receipt of

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a complete application. The office shall notify each applicant

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when its application is complete, and when the 60-day period

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begins. In its written report to the director, the office shall

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specifically address each of the factors specified in paragraph

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(f), and shall make a specific assessment with respect to the

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minimum requirements established in paragraph (e). The office

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shall include in its report projections of the tax refunds the

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applicant would be eligible to receive in each fiscal year based

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on the creation and maintenance of the net new Florida jobs

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specified in subparagraph (b)6., subparagraph (c)6., or

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subparagraph (d)7. as of December 31 of the preceding state

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fiscal year.

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     (h) Within 30 days after receipt of the office's findings

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and evaluation, the director shall issue a letter of

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certification which either approves or disapproves an

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application. The decision must be in writing and provide the

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justifications for either approval or disapproval. If

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appropriate, the director shall enter into a written agreement

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with the qualified applicant pursuant to subsection (4).

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     (5)  ANNUAL CLAIM FOR REFUND FROM A QUALIFIED DEFENSE

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CONTRACTOR.--

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     (c)  A tax refund may not be approved for any qualified

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applicant unless local financial support has been paid to the

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Economic Development Trust Fund for that refund. If the local

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financial support is less than 20 percent of the approved tax

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refund, the tax refund shall be reduced. The tax refund paid may

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not exceed 5 times the local financial support received. Funding

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from local sources includes tax abatement under s. 196.1995 or

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the appraised market value of municipal or county land, including

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any improvements or structures conveyed or provided at a discount

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through a sale of lease to that provided to a qualified

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applicant. The amount of any tax refund for an applicant approved

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under this section shall be reduced by the amount of any such tax

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abatement granted or the value of the land granted, including the

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value of any improvements or structures, and the limitations in

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subsection (2) and paragraph (3)(h) shall be reduced by the

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amount of any such tax abatement or the value of the land

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granted, including any improvements or structures. A report

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listing all sources of the local financial support shall be

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provided to the office if when such support is paid to the

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Economic Development Trust Fund.

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     (6)  ADMINISTRATION.--

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     (d) By December 1 of each year, the office shall submit a

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complete and detailed report to the Governor, the President of

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the Senate, and the Speaker of the House of Representatives of

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all tax refunds paid under this section, including analyses of

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benefits and costs, types of projects supported, employment and

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investment created, geographic distribution of tax refunds

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granted, and minority business participation. The report must

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indicate whether the moneys appropriated by the Legislature to

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the qualified applicant tax refund program were expended in a

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prudent, fiducially sound manner.

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     (d)(e) Funds specifically appropriated for the tax refund

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program under this section may not be used for any purpose other

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than the payment of tax refunds authorized by this section.

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     Section 5.  Subsection (3) of section 288.106, Florida

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Statutes, is amended to read:

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     288.106  Tax refund program for qualified target industry

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businesses.--

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     (3)  APPLICATION AND APPROVAL PROCESS.--

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     (a)  To apply for certification as a qualified target

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industry business under this section, the business must file an

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application with the office before the business has made the

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decision to locate a new business in this state or before the

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business had made the decision to expand an existing business in

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this state. The application must shall include, but is not

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limited to, the following information:

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     1.  The applicant's federal employer identification number

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and the applicant's state sales tax registration number.

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     2.  The permanent location of the applicant's facility in

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this state at which the project is or is to be located.

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     3.  A description of the type of business activity or

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product covered by the project, including, at a minimum, the

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NAICS four-digit SIC codes for all activities included in the

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project.

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     4. The number of net new full-time equivalent state Florida

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jobs at the qualified target industry business as of December 31

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of each year included in the project and the average wage for of

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those jobs. If more than one type of business activity or product

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is included in the project, the number of jobs and average wage

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for those jobs must be separately stated for each type of

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business activity or product.

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     5.  The total number of full-time equivalent employees

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employed by the applicant in this state.

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     6.  The anticipated commencement date of the project.

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     7.  A brief statement concerning the role that the tax

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refunds requested will play in the decision of the applicant to

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locate or expand in this state.

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     8.  An estimate of the proportion of the sales resulting

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from the project that will be made outside this state.

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     9.  A resolution adopted by the governing board of the

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county or municipality in which the project will be located,

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which resolution recommends that certain types of businesses be

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approved as a qualified target industry business and states that

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the commitments of local financial support necessary for the

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target industry business exist. In advance of the passage of such

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resolution, the office may also accept an official letter from an

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authorized local economic development agency that endorses the

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proposed target industry project and pledges that sources of

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local financial support for such project exist. For the purposes

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of making pledges of local financial support under this

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subsection, the authorized local economic development agency must

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shall be officially designated by the passage of a one-time

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resolution by the local governing authority.

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     10.  Any additional information requested by the office.

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     (b)  To qualify for review by the office, the application of

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a target industry business must, at a minimum, establish the

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following to the satisfaction of the office:

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     1.  The jobs proposed to be provided under the application,

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pursuant to subparagraph (a)4., must pay an estimated annual

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average wage equaling at least 115 percent of the average private

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sector wage in the area where the business is to be located or

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the statewide private sector average wage. In determining the

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average annual wage, the office shall include only new proposed

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jobs and wages for existing jobs shall be excluded from the

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calculation. The office may waive the this average wage

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requirement at the request of the local governing body

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recommending the project and Enterprise Florida, Inc. The wage

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requirement may only be waived for a project located in a

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brownfield area designated under s. 376.80, or in a rural city or

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county, or in an enterprise zone and only when the merits of the

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individual project or the specific circumstances in the community

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in relationship to the project warrant such action. If the local

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governing body and Enterprise Florida, Inc., make such a

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recommendation, it must be transmitted in writing and the

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specific justification for the waiver recommendation must be

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explained. If the director elects to waive the wage requirement,

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the waiver must be stated in writing and the reasons for granting

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the waiver must be explained.

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     2.  The target industry business's project must result in

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the creation of at least 10 jobs at such project and, if an

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expansion of an existing business, must result in a net increase

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in employment of at least not less than 10 percent at the such

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business. Notwithstanding the definition of the term "expansion

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of an existing business" in paragraph (1)(g), at the request of

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the local governing body recommending the project and Enterprise

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Florida, Inc., the office may define an "expansion of an existing

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business" in a rural community or an enterprise zone as the

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expansion of a business resulting in a net increase in employment

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of less than 10 percent at such business if the merits of the

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individual project or the specific circumstances in the community

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in relationship to the project warrant such action. If the local

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governing body and Enterprise Florida, Inc., make such a request,

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it must be transmitted in writing and the specific justification

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for the request must be explained. If the director elects to

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grant the such request, it such election must be stated in

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writing and the reason for granting the request must be

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explained.

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     3.  The business activity or product for the applicant's

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project is within an industry or industries that have been

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identified by the office to be high-value-added industries that

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contribute to the area and to the economic growth of the state

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and that produce a higher standard of living for residents

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citizens of this state in the new global economy or that can be

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shown to make an equivalent contribution to the area and state's

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economic progress. The director must approve requests to waive

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the wage requirement for brownfield areas designated under s.

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376.80 unless it is demonstrated that such action is not in the

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public interest.

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     (c)  Each application meeting the requirements of paragraph

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(b) must be submitted to the office for determination of

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eligibility. The office shall review and evaluate each

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application based on, but not limited to, the following criteria:

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     1.  Expected contributions to the state strategic economic

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development plan adopted by Enterprise Florida, Inc., taking into

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account the long-term effects of the project and of the applicant

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on the state economy.

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     2.  The economic benefit of the jobs created by the project

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in this state, taking into account the cost and average wage of

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each job created.

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     3.  The amount of capital investment to be made by the

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applicant in this state.

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     4.  The local commitment and support for the project.

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     5.  The effect of the project on the local community, taking

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into account the unemployment rate for the county where the

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project will be located.

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     6.  The effect of any tax refunds granted pursuant to this

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section on the viability of the project and the probability that

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the project will be undertaken in this state if such tax refunds

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are granted to the applicant, taking into account the expected

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long-term commitment of the applicant to economic growth and

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employment in this state.

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     7.  The expected long-term commitment to this state

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resulting from the project.

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     8.  A review of the business's past activities in this state

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or other states, including whether such business has been

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subjected to criminal or civil fines and penalties. Nothing in

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This subparagraph does not shall require the disclosure of

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confidential information.

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     (d) Applications shall be reviewed and certified pursuant

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to s. 288.061 The office shall forward its written findings and

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evaluation concerning each application meeting the requirements

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of paragraph (b) to the director within 45 calendar days after

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receipt of a complete application. The office shall notify each

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target industry business when its application is complete, and of

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the time when the 45-day period begins. In its written report to

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the director, the office shall specifically address each of the

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factors specified in paragraph (c) and shall make a specific

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assessment with respect to the minimum requirements established

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in paragraph (b). The office shall include in its review report

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projections of the tax refunds the business would be eligible to

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receive in each fiscal year based on the creation and maintenance

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of the net new Florida jobs specified in subparagraph (a)4. as of

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December 31 of the preceding state fiscal year.

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     (e)1. Within 30 days after receipt of the office's findings

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and evaluation, the director shall issue a letter of

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certification that either approves or disapproves the application

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of the target industry business. The decision must be in writing

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and must provide the justifications for approval or disapproval.

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     2. If appropriate, the director shall enter into a written

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agreement with the qualified target industry business pursuant to

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subsection (4).

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     (e)(f) The director may not certify any target industry

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business as a qualified target industry business if the value of

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tax refunds to be included in that letter of certification

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exceeds the available amount of authority to certify new

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businesses as determined in s. 288.095(3). However, if the

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commitments of local financial support represent less than 20

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percent of the eligible tax refund payments, or to otherwise

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preserve the viability and fiscal integrity of the program, the

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director may certify a qualified target industry business to

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receive tax refund payments of less than the allowable amounts

494

specified in paragraph (2)(b). A letter of certification that

495

approves an application must specify the maximum amount of tax

496

refund that will be available to the qualified industry business

497

in each fiscal year and the total amount of tax refunds that will

498

be available to the business for all fiscal years.

499

     (f)(g) Nothing in This section does not shall create a

500

presumption that an applicant shall will receive any tax refunds

501

under this section. However, the office may issue nonbinding

502

opinion letters, upon the request of prospective applicants, as

503

to the applicants' eligibility and the potential amount of

504

refunds.

505

     Section 6.  Paragraph (f) of subsection (4) of section

506

288.107, Florida Statutes, is amended to read:

507

     288.107  Brownfield redevelopment bonus refunds.--

508

(4)  PAYMENT OF BROWNFIELD REDEVELOPMENT BONUS REFUNDS.--

509

     (f) Applications shall be reviewed and certified pursuant

510

to s. 288.106. The office shall review all applications submitted

511

under s. 288.106 or other similar application forms for other

512

eligible businesses as defined in paragraph (1)(e) which indicate

513

that the proposed project will be located in a brownfield and

514

determine, with the assistance of the Department of Environmental

515

Protection, that the project location is within a brownfield as

516

provided in this act.

517

     Section 7.  Paragraphs (b), (c), and (d) of subsection (5)

518

and subsections (7) and (8) of section 288.108, Florida Statutes,

519

are amended to read:

520

     288.108  High-impact business.--

521

     (5)  APPLICATIONS; CERTIFICATION PROCESS; GRANT AGREEMENT.--

522

     (b) Applications shall be reviewed and certified pursuant

523

to s. 288.106 Enterprise Florida, Inc., shall review each

524

submitted application and inform the applicant business whether

525

or not its application is complete within 10 working days. Once

526

the application is deemed complete, Enterprise Florida, Inc., has

527

10 working days within which to evaluate the application and

528

recommend approval or disapproval of the application to the

529

director. In recommending an applicant business for approval,

530

Enterprise Florida, Inc., shall include a recommended grant award

531

amount in its evaluation forwarded to the office.

532

     (c) Upon receipt of the evaluation and recommendation of

533

Enterprise Florida, Inc., the director has 5 working days to

534

enter a final order that either approves or disapproves an

535

applicant business as a qualified high-impact business facility,

536

unless the business requests an extension of the time. The final

537

order shall specify the total amount of the qualified high-impact

538

business facility performance grant award, the performance

539

conditions that must be met to obtain the award, and the schedule

540

for payment of the performance grant.

541

     (c)(d) The director and the qualified high-impact business

542

shall enter into a performance grant agreement setting forth the

543

conditions for payment of the qualified high-impact business

544

performance grant. The agreement shall include the total amount

545

of the qualified high-impact business facility performance grant

546

award, the performance conditions that must be met to obtain the

547

award, including the employment, average salary, investment, the

548

methodology for determining if the conditions have been met, and

549

the schedule of performance grant payments.

550

     (7) REPORTING.--The office shall by December 1 of each year

551

issue a complete and detailed report of all designated high-

552

impact sectors, all applications received and their disposition,

553

all final orders issued, and all payments made, including

554

analyses of benefits and costs, types of projects supported, and

555

employment and investments created. The report shall be submitted

556

to the Governor, the President of the Senate, and the Speaker of

557

the House of Representatives.

558

     (7)(8) RULEMAKING.--The office may adopt rules necessary to

559

administer carry out the provisions of this section.

560

     Section 8.  Paragraph (a) of subsection (3) of section

561

288.1088, Florida Statutes, is amended to read:

562

     288.1088 Quick Action Closing Fund.--

563

     (3)(a) Enterprise Florida, Inc., shall review applications

564

pursuant to s. 288.061(1) and determine eligibility of each

565

project consistent with the criteria in subsection (2).

566

Enterprise Florida, Inc., in consultation with the Office of

567

Tourism, Trade, and Economic Development, may waive these

568

criteria based on extraordinary circumstances if the project

569

would significantly benefit the local or regional economy.

570

Enterprise Florida, Inc., shall evaluate individual proposals for

571

high-impact business facilities and forward recommendations

572

regarding the use of moneys in the fund for such facilities to

573

the director of the Office of Tourism, Trade, and Economic

574

Development. The Such evaluation and recommendation must include,

575

but need not be limited to:

576

     1.  A description of the type of facility or infrastructure,

577

its operations, and the associated product or service associated

578

with the facility.

579

     2.  The number of full-time-equivalent jobs that will be

580

created by the facility and the total estimated average annual

581

wages of those jobs or, in the case of privately developed rural

582

infrastructure, the types of business activities and jobs

583

stimulated by the investment.

584

     3.  The cumulative amount of investment to be dedicated to

585

the facility within a specified period.

586

     4.  A statement of any special impacts the facility is

587

expected to stimulate in a particular business sector in the

588

state or regional economy or in the state's universities and

589

community colleges.

590

     5.  A statement of the role the incentive is expected to

591

play in the decision of the applicant business to locate or

592

expand in this state or for the private investor to provide

593

critical rural infrastructure.

594

     6.  A report evaluating the quality and value of the company

595

submitting a proposal. The report must include:

596

     a.  A financial analysis of the company, including an

597

evaluation of the company's short-term liquidity ratio as

598

measured by its assets to liability, the company's profitability

599

ratio, and the company's long-term solvency as measured by its

600

debt-to-equity ratio;

601

     b.  The historical market performance of the company;

602

     c.  A review of any independent evaluations of the company;

603

     d.  A review of the latest audit of the company's financial

604

statement and the related auditor's management letter; and

605

     e.  A review of any other types of audits that are related

606

to the internal and management controls of the company.

607

608

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

609

And the title is amended as follows:

610

     Delete line(s) 2

611

and insert:

612

An act relating to economic development; creating s.

613

299.061, F.S.; creating a uniform process for the review

614

and certification of economic development incentive

615

projects by Enterprise Florida, Inc., and the Office of

616

Tourism, Trade, and Economic Development; amending ss.

617

288.063 and 288.0655, F.S.; conforming the review of

618

transportation projects and rural infrastructure projects

619

to changes made by the act; amending s. 288.1045, F.S.;

620

revising the sources of funds that may be used to provide

621

refunds for the qualified defense contractor tax refund

622

program; conforming the review of Department of Defense

623

projects to changes made by the act; providing that the

624

amount of the tax refund may be reduced by the value of

625

the land granted; deleting an annual report; amending s.

626

288.106. F.S.; revising information that must be submitted

627

by a qualified target industry business applying for a tax

628

refund; conforming the application process to changes made

629

by the act; amending s. 288.107, F.S.; conforming review

630

of applications for payment of brownfield redevelopment

631

bonus refunds to changes made by the act; amending s.

632

288.108, F.S.; conforming the review of grant applications

633

for high-impact businesses to changes made by the act;

634

deleting an annual report; amending s. 288.1088, F.S.;

635

conforming the review of projects funded by the Quick

636

Action Closing Fund to changes made by the act;

4/10/2008  9:12:00 AM     606-07165-08