HB 925

1	A bill to be entitled
2	An act relating to employment for the homeless; amending
3	s. 220.02, F.S.; specifying the order for applying the tax
4	credit for employment of the homeless; amending s. 220.13,
5	F.S.; revising a definition; creating s. 220.194, F.S.;
6	providing definitions; providing a tax credit for a
7	corporation that hires a homeless person residing in a
8	transitional housing facility; specifying the information
9	that must be provided to the Department of Revenue when
10	applying for the credit; providing for the carryover of
11	unused credits; providing credit application requirements;
12	providing penalties for fraudulently claiming the tax
13	credit; limiting the total of amount of tax credits that
14	may be granted per calendar year; authorizing the
15	department to adopt rules; providing for the expiration of
16	the tax credit; requiring the department to collect
17	certain data; providing an effective date.
18
19	Be It Enacted by the Legislature of the State of Florida:
20
21	Section 1.  Subsection (8) of section 220.02, Florida
22	Statutes, is amended to read:
23	220.02  Legislative intent.--
24	(8)  It is the intent of the Legislature that credits
25	against either the corporate income tax or the franchise tax be
26	applied in the following order: those enumerated in s. 631.828,
27	those enumerated in s. 220.191, those enumerated in s. 220.181,
28	those enumerated in s. 220.183, those enumerated in s. 220.182,
29	those enumerated in s. 220.1895, those enumerated in s. 221.02,
30	those enumerated in s. 220.184, those enumerated in s. 220.186,
31	those enumerated in s. 220.1845, those enumerated in s. 220.19,
32	those enumerated in s. 220.185, those enumerated in s. 220.187,
33	those enumerated in s. 220.192, and those enumerated in s.
34	220.193, and those enumerated in s. 220.194.
35	Section 2.  Paragraph (a) of subsection (1) of section
36	220.13, Florida Statutes, is amended to read:
37	220.13  "Adjusted federal income" defined.--
38	(1)  The term "adjusted federal income" means an amount
39	equal to the taxpayer's taxable income as defined in subsection
40	(2), or such taxable income of more than one taxpayer as
41	provided in s. 220.131, for the taxable year, adjusted as
42	follows:
43	(a)  Additions.--There shall be added to such taxable
44	income:
45	1.  The amount of any tax upon or measured by income,
46	excluding taxes based on gross receipts or revenues, paid or
47	accrued as a liability to the District of Columbia or any state
48	of the United States which is deductible from gross income in
49	the computation of taxable income for the taxable year.
50	2.  The amount of interest which is excluded from taxable
51	income under s. 103(a) of the Internal Revenue Code or any other
52	federal law, less the associated expenses disallowed in the
53	computation of taxable income under s. 265 of the Internal
54	Revenue Code or any other law, excluding 60 percent of any
55	amounts included in alternative minimum taxable income, as
56	defined in s. 55(b)(2) of the Internal Revenue Code, if the
57	taxpayer pays tax under s. 220.11(3).
58	3.  In the case of a regulated investment company or real
59	estate investment trust, an amount equal to the excess of the
60	net long-term capital gain for the taxable year over the amount
61	of the capital gain dividends attributable to the taxable year.
62	4.  That portion of the wages or salaries paid or incurred
63	for the taxable year which is equal to the amount of the credit
64	allowable for the taxable year under s. 220.181. This
65	subparagraph shall expire on the date specified in s. 290.016
66	for the expiration of the Florida Enterprise Zone Act.
67	5.  That portion of the ad valorem school taxes paid or
68	incurred for the taxable year which is equal to the amount of
69	the credit allowable for the taxable year under s. 220.182. This
70	subparagraph shall expire on the date specified in s. 290.016
71	for the expiration of the Florida Enterprise Zone Act.
72	6.  The amount of emergency excise tax paid or accrued as a
73	liability to this state under chapter 221 which tax is
74	deductible from gross income in the computation of taxable
75	income for the taxable year.
76	7.  That portion of assessments to fund a guaranty
77	association incurred for the taxable year which is equal to the
78	amount of the credit allowable for the taxable year.
79	8.  In the case of a nonprofit corporation which holds a
80	pari-mutuel permit and which is exempt from federal income tax
81	as a farmers' cooperative, an amount equal to the excess of the
82	gross income attributable to the pari-mutuel operations over the
83	attributable expenses for the taxable year.
84	9.  The amount taken as a credit for the taxable year under
85	s. 220.1895.
86	10.  Up to nine percent of the eligible basis of any
87	designated project which is equal to the credit allowable for
88	the taxable year under s. 220.185.
89	11.  The amount taken as a credit for the taxable year
90	under s. 220.187.
91	12.  The amount taken as a credit for the taxable year
92	under s. 220.192.
93	13.  The amount taken as a credit for the taxable year
94	under s. 220.193.
95	14.  The amount taken as a credit for the taxable year
96	under s. 220.194.
97	15.14.  Any amount in excess of $25,000 allowable as a
98	deduction for federal income tax purposes under s. 179 of the
99	Internal Revenue Code of 1986, as amended, for the taxable year.
100	16.15.  Any amount allowable as a deduction for federal
101	income tax purposes under s. 167 or s. 168 of the Internal
102	Revenue Code of 1986, as amended, for the taxable year to the
103	extent that such amount includes bonus depreciation allowable as
104	deduction under s. 168(k).
105	Section 3.  Section 220.194, Florida Statutes, is created
106	to read:
107	220.194  Tax credit for employment of the homeless.--
108	(1)  As used in this section, the term:
109	(a)  "Continuously employed" means that an employee has
110	worked for the corporation for at least 80 hours during each 30-
111	day period and has been employed at least 6 months following the
112	date that the employee began working for the corporation on or
113	after July 1, 2009.
114	(b)  "Homeless person" means an individual whose primary
115	nighttime residence is at a transitional housing facility.
116	(c)  "Transitional housing facility" means a facility
117	located in the state that is a supervised, publicly or privately
118	operated shelter designed to provide temporary living
119	accommodations, including a welfare hotel, congregate shelter,
120	and transitional housing for the mentally ill, and that receives
121	federal homeless assistance funding distributed by the United
122	States Department of Housing and Urban Development.
123	(2)  For each taxable year, beginning January 1, 2010, a
124	tax credit of $1,000 shall be allowed to a corporation against
125	any corporate income tax due under this chapter if the
126	corporation hires a homeless person who resides in a
127	transitional housing facility at the time he or she begins
128	employment and who remains continuously employed for at least 6
129	months. The tax credit may be taken only once per new employee.
130	(3)  Upon applying for the credit, the corporation must
131	provide the department with the following information:
132	(a)  For each new employee for whom the credit is claimed:
133	1.  The employee's name, social security number, and
134	current address or, if the employee is no longer employed, the
135	last known address of the person while employed by the
136	corporation.
137	2.  The address of the transitional housing facility where
138	the employee was residing at the time he or she began employment
139	and documentation from the transitional housing facility that
140	demonstrates that the employee qualified for and was residing at
141	the facility at the time he or she began employment.
142	3.  The salary or hourly wages paid to the new employee
143	during the taxable year.
144	(b)  The total salary or hourly wages paid during the
145	taxable year to each employee who is still employed by the
146	corporation and for whom the tax credit was claimed in a prior
147	taxable year.
148	(4)  If the credit is not fully used in any one year, the
149	unused amount may be carried forward for up to 5 years. The
150	carryover credit may be used in a subsequent year if the tax
151	imposed by this chapter exceeds the credit for that year after
152	applying any other credits and unused credit carryovers in the
153	order provided in s. 220.02(8).
154	(5)  The corporation applying for the credit must
155	affirmatively demonstrate to the satisfaction of the department
156	that it meets the requirements of this section. An application
157	must be filed with the department no later than February 1 of
158	each year for an allocation of the previous year's credit. The
159	application must show that all of the requirements in this
160	section were met during the preceding calendar year.
161	(6)  Any person who fraudulently claims the credit is
162	liable for payment of the credit, plus a mandatory penalty in
163	the amount of 200 percent of the credit and interest at the rate
164	provided in s. 220.807, and commits a felony of the third
165	degree, punishable as provided in s. 775.082, s. 775.083, or s.
166	775.084.
167	(7)  The total amount of tax credit that may be granted
168	under this section is $2 million per calendar year. If the total
169	amount of tax credit for applications submitted in a given
170	calendar year exceeds $2 million, the amount of tax credit per
171	applicant shall be granted on a pro rata basis. If the full
172	amount of the tax credit is not allowed due to the $2 million
173	annual limitation, the balance shall be allowed in the following
174	tax year. The amount not allowed in the previous tax year shall
175	be allowed in full prior to the pro rata allocation of tax
176	credit in the following tax year.
177	(8)  The department may adopt rules and forms to administer
178	this section.
179	(9)  This section expires December 31, 2014, except for
180	subsections (3) and (8), which expire December 31, 2020. In
181	determining whether to reenact this section, the Legislature
182	shall consider whether the revenue generated from wages paid to
183	qualifying employees outweighs the cost to the state in terms of
184	the amount of taxes waived. The department shall collect and
185	maintain data relating to the total amount of wages paid to
186	employees for whom a tax credit has been claimed in order to
187	assist the Legislature in making such a determination.
188	Section 4.  This act shall take effect July 1, 2009.

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