| 1 | Representative T. Williams offered the following: |
| 2 |
|
| 3 | Amendment (with title amendment) |
| 4 | Between lines 4534 and 4535, insert: |
| 5 | Section 85. Paragraph (f) of subsection (1) of section |
| 6 | 220.1845, Florida Statutes, is amended to read: |
| 7 | 220.1845 Contaminated site rehabilitation tax credit.-- |
| 8 | (1) AUTHORIZATION FOR TAX CREDIT; LIMITATIONS.-- |
| 9 | (f) 1. For fiscal year 2009-2010, the total amount of the |
| 10 | tax credits which may be granted under this section is $3.050 $2 |
| 11 | million annually. |
| 12 | 2. Beginning with the 2010-2011 fiscal year, the total |
| 13 | amount of the tax credits which may be granted under this |
| 14 | section is $2 million annually. |
| 15 | Section 86. Subsections (4),(5), and (11) of section |
| 16 | 376.30781, Florida Statutes, are amended to read: |
| 17 | 376.30781 Tax credits for rehabilitation of drycleaning- |
| 18 | solvent-contaminated sites and brownfield sites in designated |
| 19 | brownfield areas; application process; rulemaking authority; |
| 20 | revocation authority.-- |
| 21 | (4) (a) The Department of Environmental Protection is |
| 22 | responsible for allocating the tax credits provided for in s. |
| 23 | 220.1845, which, for fiscal year 2009-2010, may not exceed a |
| 24 | total of $3.050 $2 million in tax credits annually. |
| 25 | (b) Beginning with the 2010-2011 fiscal year, the |
| 26 | Department of Environmental Protection is responsible for |
| 27 | allocating the tax credits provided for in s. 220.1845, which |
| 28 | may not exceed a total of $2 million in tax credits annually. |
| 29 | (5) To claim the credit for site rehabilitation or solid |
| 30 | waste removal, each tax credit applicant must apply to the |
| 31 | Department of Environmental Protection for an allocation of the |
| 32 | $2 million annual credit pursuant to subsection (4) by filing a |
| 33 | tax credit application with the Division of Waste Management on |
| 34 | a form developed by the Department of Environmental Protection |
| 35 | in cooperation with the Department of Revenue. The form shall |
| 36 | include an affidavit from each tax credit applicant certifying |
| 37 | that all information contained in the application, including all |
| 38 | records of costs incurred and claimed in the tax credit |
| 39 | application, are true and correct. If the application is |
| 40 | submitted pursuant to subparagraph (3)(a)2., the form must |
| 41 | include an affidavit signed by the real property owner stating |
| 42 | that it is not, and has never been, the owner or operator of the |
| 43 | drycleaning facility where the contamination exists. Approval of |
| 44 | tax credits must be accomplished on a first-come, first-served |
| 45 | basis based upon the date and time complete applications are |
| 46 | received by the Division of Waste Management, subject to the |
| 47 | limitations of subsection (14). To be eligible for a tax credit, |
| 48 | the tax credit applicant must: |
| 49 | (a) For site rehabilitation tax credits, have entered into |
| 50 | a voluntary cleanup agreement with the Department of |
| 51 | Environmental Protection for a drycleaning-solvent-contaminated |
| 52 | site or a Brownfield Site Rehabilitation Agreement, as |
| 53 | applicable, and have paid all deductibles pursuant to s. |
| 54 | 376.3078(3)(e) for eligible drycleaning-solvent-cleanup program |
| 55 | sites, as applicable. A site rehabilitation tax credit applicant |
| 56 | must submit only a single completed application per site for |
| 57 | each calendar year's site rehabilitation costs. A site |
| 58 | rehabilitation application must be received by the Division of |
| 59 | Waste Management of the Department of Environmental Protection |
| 60 | by January 31 of the year after the calendar year for which site |
| 61 | rehabilitation costs are being claimed in a tax credit |
| 62 | application. |
| 63 | (b) For solid waste removal tax credits, have entered into |
| 64 | a brownfield site rehabilitation agreement with the Department |
| 65 | of Environmental Protection. A solid waste removal tax credit |
| 66 | applicant must submit only a single complete application per |
| 67 | brownfield site, as defined in the brownfield site |
| 68 | rehabilitation agreement, for solid waste removal costs. A solid |
| 69 | waste removal tax credit application must be received by the |
| 70 | Division of Waste Management of the Department of Environmental |
| 71 | Protection subsequent to the completion of the requirements |
| 72 | listed in paragraph (3)(e). |
| 73 | (11) If a tax credit applicant does not receive a tax |
| 74 | credit allocation due to an exhaustion of the $2 million annual |
| 75 | tax credit authorization pursuant to subsection (4), such |
| 76 | application will then be included in the same first-come, first- |
| 77 | served order in the next year's annual tax credit allocation, if |
| 78 | any, based on the prior year application. |
| 79 | Section 87. Paragraph (a) of subsection (3) of section |
| 80 | 376.86, Florida Statutes, is amended to read: |
| 81 | 376.86 Brownfield Areas Loan Guarantee Program.-- |
| 82 | (3) The council may enter into an investment agreement |
| 83 | with the Department of Environmental Protection and the State |
| 84 | Board of Administration concerning the investment of the balance |
| 85 | of funds maintained in the Inland Protection Trust Fund. The |
| 86 | investment must be limited as follows: |
| 87 | (a) 1. Through the 2011-2012 fiscal year, not more than |
| 88 | $3.95 $5 million of the balance of the Inland Protection Trust |
| 89 | Fund in a fiscal year may be at risk at any time on loan |
| 90 | guarantees or as loan loss reserves. Of that amount, 15 percent |
| 91 | shall be reserved for investment agreements involving |
| 92 | predominantly minority-owned businesses which meet the |
| 93 | requirements of subsection (4). |
| 94 | 2. Beginning with the 2012-2013 fiscal year, not more than |
| 95 | $5 million of the balance of the Inland Protection Trust Fund in |
| 96 | a fiscal year may be at risk at any time on loan guarantees or |
| 97 | as loan loss reserves. Of that amount, 15 percent shall be |
| 98 | reserved for investment agreements involving predominantly |
| 99 | minority-owned businesses which meet the requirements of |
| 100 | subsection (4). |
| 101 | Section 88. For fiscal year 2009-2010 only, the amount of |
| 102 | $1,050,000 is transferred from the Inland Protection Trust Fund |
| 103 | created under section s. 376.3071, Florida Statutes, to the |
| 104 | General Revenue Fund for tax credit purposes for the voluntary |
| 105 | cleanup of drycleaning-solvent-contaminated sites and brownfield |
| 106 | sites as provided for in s. 376.30781, Florida Statutes. |
| 107 | ----------------------------------------------------- |
| 108 | T I T L E A M E N D M E N T |
| 109 | Between lines 328 and 329, insert: |
| 110 | amending ss. 220.1845 and 376.30781, F.S.; increasing the cap on |
| 111 | contaminated site rehabilitation tax credits for one fiscal |
| 112 | year; amending s. 376.86, F.S.; restoring cap on tax credits to |
| 113 | 2009 levels; transferring revenues from a specified trust fund |
| 114 | to General Revenue; |