HB 459

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 amount of tax credits that may
14	be granted per calendar year; authorizing the department
15	to adopt rules; providing for the expiration of the tax
16	credit; requiring the department to collect certain data;
17	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, those enumerated in s. 220.193,
34	and those enumerated in s. 288.9916, and those enumerated in s.
35	220.194.
36	Section 2.  Paragraph (a) of subsection (1) of section
37	220.13, Florida Statutes, is amended to read:
38	220.13  "Adjusted federal income" defined.-
39	(1)  The term "adjusted federal income" means an amount
40	equal to the taxpayer's taxable income as defined in subsection
41	(2), or such taxable income of more than one taxpayer as
42	provided in s. 220.131, for the taxable year, adjusted as
43	follows:
44	(a)  Additions.-There shall be added to such taxable
45	income:
46	1.  The amount of any tax upon or measured by income,
47	excluding taxes based on gross receipts or revenues, paid or
48	accrued as a liability to the District of Columbia or any state
49	of the United States which is deductible from gross income in
50	the computation of taxable income for the taxable year.
51	2.  The amount of interest which is excluded from taxable
52	income under s. 103(a) of the Internal Revenue Code or any other
53	federal law, less the associated expenses disallowed in the
54	computation of taxable income under s. 265 of the Internal
55	Revenue Code or any other law, excluding 60 percent of any
56	amounts included in alternative minimum taxable income, as
57	defined in s. 55(b)(2) of the Internal Revenue Code, if the
58	taxpayer pays tax under s. 220.11(3).
59	3.  In the case of a regulated investment company or real
60	estate investment trust, an amount equal to the excess of the
61	net long-term capital gain for the taxable year over the amount
62	of the capital gain dividends attributable to the taxable year.
63	4.  That portion of the wages or salaries paid or incurred
64	for the taxable year which is equal to the amount of the credit
65	allowable for the taxable year under s. 220.181. This
66	subparagraph shall expire on the date specified in s. 290.016
67	for the expiration of the Florida Enterprise Zone Act.
68	5.  That portion of the ad valorem school taxes paid or
69	incurred for the taxable year which is equal to the amount of
70	the credit allowable for the taxable year under s. 220.182. This
71	subparagraph shall expire on the date specified in s. 290.016
72	for the expiration of the Florida Enterprise Zone Act.
73	6.  The amount of emergency excise tax paid or accrued as a
74	liability to this state under chapter 221 which tax is
75	deductible from gross income in the computation of taxable
76	income for the taxable year.
77	7.  That portion of assessments to fund a guaranty
78	association incurred for the taxable year which is equal to the
79	amount of the credit allowable for the taxable year.
80	8.  In the case of a nonprofit corporation which holds a
81	pari-mutuel permit and which is exempt from federal income tax
82	as a farmers' cooperative, an amount equal to the excess of the
83	gross income attributable to the pari-mutuel operations over the
84	attributable expenses for the taxable year.
85	9.  The amount taken as a credit for the taxable year under
86	s. 220.1895.
87	10.  Up to nine percent of the eligible basis of any
88	designated project which is equal to the credit allowable for
89	the taxable year under s. 220.185.
90	11.  The amount taken as a credit for the taxable year
91	under s. 220.187.
92	12.  The amount taken as a credit for the taxable year
93	under s. 220.192.
94	13.  The amount taken as a credit for the taxable year
95	under s. 220.193.
96	14.  The amount taken as a credit for the taxable year
97	under s. 220.194.
98	15.14.  Any portion of a qualified investment, as defined
99	in s. 288.9913, which is claimed as a deduction by the taxpayer
100	and taken as a credit against income tax pursuant to s.
101	288.9916.
102	Section 3.  Section 220.194, Florida Statutes, is created
103	to read:
104	220.194  Tax credit for employment of the homeless.-
105	(1)  As used in this section, the term:
106	(a)  "Continuously employed" means that an employee has
107	worked for the corporation for at least 80 hours during each 30-
108	day period and has been employed at least 6 months following the
109	date that the employee began working for the corporation on or
110	after July 1, 2010.
111	(b)  "Homeless person" means an individual whose primary
112	nighttime residence is at a transitional housing facility.
113	(c)  "Transitional housing facility" means a facility
114	located in the state that is a supervised, publicly or privately
115	operated shelter designed to provide temporary living
116	accommodations, including a welfare hotel, congregate shelter,
117	and transitional housing for the mentally ill, and that receives
118	federal homeless assistance funding distributed by the United
119	States Department of Housing and Urban Development.
120	(2)  For each taxable year, beginning January 1, 2011, a
121	tax credit of $1,000 shall be allowed to a corporation against
122	any corporate income tax due under this chapter if the
123	corporation hires a homeless person who resides in a
124	transitional housing facility at the time he or she begins
125	employment and who remains continuously employed for at least 6
126	months. The tax credit may be taken only once per new employee.
127	(3)  Upon applying for the credit, the corporation must
128	provide the department with the following information:
129	(a)  For each new employee for whom the credit is claimed:
130	1.  The employee's name, social security number, and
131	current address or, if the employee is no longer employed, the
132	last known address of the person while employed by the
133	corporation.
134	2.  The address of the transitional housing facility where
135	the employee was residing at the time he or she began employment
136	and documentation from the transitional housing facility that
137	demonstrates that the employee qualified for and was residing at
138	the facility at the time he or she began employment.
139	3.  The salary or hourly wages paid to the new employee
140	during the taxable year.
141	(b)  The total salary or hourly wages paid during the
142	taxable year to each employee who is still employed by the
143	corporation and for whom the tax credit was claimed in a prior
144	taxable year.
145	(4)  If the credit is not fully used in any one year, the
146	unused amount may be carried forward for up to 5 years. The
147	carryover credit may be used in a subsequent year if the tax
148	imposed by this chapter exceeds the credit for that year after
149	applying any other credits and unused credit carryovers in the
150	order provided in s. 220.02(8).
151	(5)  The corporation applying for the credit must
152	affirmatively demonstrate to the satisfaction of the department
153	that it meets the requirements of this section. An application
154	must be filed with the department no later than February 1 of
155	each year for an allocation of the previous year's credit. The
156	application must show that all of the requirements in this
157	section were met during the preceding calendar year.
158	(6)  Any person who fraudulently claims the credit is
159	liable for payment of the credit, plus a mandatory penalty in
160	the amount of 200 percent of the credit and interest at the rate
161	provided in s. 220.807, and commits a felony of the third
162	degree, punishable as provided in s. 775.082, s. 775.083, or s.
163	775.084.
164	(7)  The total amount of tax credit that may be granted
165	under this section is $2 million per calendar year. If the total
166	amount of tax credit for applications submitted in a given
167	calendar year exceeds $2 million, the amount of tax credit per
168	applicant shall be granted on a pro rata basis. If the full
169	amount of the tax credit is not allowed due to the $2 million
170	annual limitation, the balance shall be allowed in the following
171	tax year. The amount not allowed in the previous tax year shall
172	be allowed in full prior to the pro rata allocation of tax
173	credit in the following tax year.
174	(8)  The department may adopt rules and forms to administer
175	this section.
176	(9)  This section expires December 31, 2015, except for
177	subsections (3) and (8), which expire December 31, 2021. In
178	determining whether to reenact this section, the Legislature
179	shall consider whether the revenue generated from wages paid to
180	qualifying employees outweighs the cost to the state in terms of
181	the amount of taxes waived. The department shall collect and
182	maintain data relating to the total amount of wages paid to
183	employees for whom a tax credit has been claimed in order to
184	assist the Legislature in making such a determination.
185	Section 4.  This act shall take effect July 1, 2010.

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