| 1 | A bill to be entitled |
| 2 | An act relating to the contaminated site rehabilitation |
| 3 | tax credit; amending s. 220.1845, F.S.; increasing the |
| 4 | annual tax credit cap; amending s. 376.30781, F.S.; |
| 5 | conforming references; providing an effective date. |
| 6 |
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| 7 | Be It Enacted by the Legislature of the State of Florida: |
| 8 |
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| 9 | Section 1. Paragraph (f) of subsection (2) of section |
| 10 | 220.1845, Florida Statutes, is amended to read: |
| 11 | 220.1845 Contaminated site rehabilitation tax credit.- |
| 12 | (2) AUTHORIZATION FOR TAX CREDIT; LIMITATIONS.- |
| 13 | (f) The total amount of the tax credits which may be |
| 14 | granted under this section is $5 $2 million annually. |
| 15 | Section 2. 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) The Department of Environmental Protection is |
| 22 | responsible for allocating the tax credits provided for in s. |
| 23 | 220.1845, which may not exceed a total of $5 $2 million in tax |
| 24 | credits annually. |
| 25 | (5) To claim the credit for site rehabilitation or solid |
| 26 | waste removal, each tax credit applicant must apply to the |
| 27 | Department of Environmental Protection for an allocation of the |
| 28 | $5 $2 million annual credit by filing a tax credit application |
| 29 | with the Division of Waste Management on a form developed by the |
| 30 | Department of Environmental Protection in cooperation with the |
| 31 | Department of Revenue. The form shall include an affidavit from |
| 32 | each tax credit applicant certifying that all information |
| 33 | contained in the application, including all records of costs |
| 34 | incurred and claimed in the tax credit application, are true and |
| 35 | correct. If the application is submitted pursuant to |
| 36 | subparagraph (3)(a)2., the form must include an affidavit signed |
| 37 | by the real property owner stating that it is not, and has never |
| 38 | been, the owner or operator of the drycleaning facility where |
| 39 | the contamination exists. Approval of tax credits must be |
| 40 | accomplished on a first-come, first-served basis based upon the |
| 41 | date and time complete applications are received by the Division |
| 42 | of Waste Management, subject to the limitations of subsection |
| 43 | (14). To be eligible for a tax credit, the tax credit applicant |
| 44 | must: |
| 45 | (a) For site rehabilitation tax credits, have entered into |
| 46 | a voluntary cleanup agreement with the Department of |
| 47 | Environmental Protection for a drycleaning-solvent-contaminated |
| 48 | site or a Brownfield Site Rehabilitation Agreement, as |
| 49 | applicable, and have paid all deductibles pursuant to s. |
| 50 | 376.3078(3)(e) for eligible drycleaning-solvent-cleanup program |
| 51 | sites, as applicable. A site rehabilitation tax credit applicant |
| 52 | must submit only a single completed application per site for |
| 53 | each calendar year's site rehabilitation costs. A site |
| 54 | rehabilitation application must be received by the Division of |
| 55 | Waste Management of the Department of Environmental Protection |
| 56 | by January 31 of the year after the calendar year for which site |
| 57 | rehabilitation costs are being claimed in a tax credit |
| 58 | application. All site rehabilitation costs claimed must have |
| 59 | been for work conducted between January 1 and December 31 of the |
| 60 | year for which the application is being submitted. All payment |
| 61 | requests must have been received and all costs must have been |
| 62 | paid prior to submittal of the tax credit application, but no |
| 63 | later than January 31 of the year after the calendar year for |
| 64 | which site rehabilitation costs are being claimed. |
| 65 | (b) For solid waste removal tax credits, have entered into |
| 66 | a brownfield site rehabilitation agreement with the Department |
| 67 | of Environmental Protection. A solid waste removal tax credit |
| 68 | applicant must submit only a single complete application per |
| 69 | brownfield site, as defined in the brownfield site |
| 70 | rehabilitation agreement, for solid waste removal costs. A solid |
| 71 | waste removal tax credit application must be received by the |
| 72 | Division of Waste Management of the Department of Environmental |
| 73 | Protection subsequent to the completion of the requirements |
| 74 | listed in paragraph (3)(e). |
| 75 | (11) If a tax credit applicant does not receive a tax |
| 76 | credit allocation due to an exhaustion of the $5 2 million |
| 77 | annual tax credit authorization, such application will then be |
| 78 | included in the same first-come, first-served order in the next |
| 79 | year's annual tax credit allocation, if any, based on the prior |
| 80 | year application. |
| 81 | Section 3. This act shall take effect July 1, 2011. |