HB 879

A bill to be entitled
2An act relating to the tax refund program for qualified
3target industry businesses; amending s. 288.106, F.S.;
4revising definition of the term "target industry business"
5to revise eligibility criteria for tax refunds under the
6program; providing an effective date.
8Be It Enacted by the Legislature of the State of Florida:
10     Section 1.  Paragraph (t) of subsection (2) of section
11288.106, Florida Statutes, is amended to read:
12     288.106  Tax refund program for qualified target industry
14     (2)  DEFINITIONS.-As used in this section:
15     (t)  "Target industry business" means a corporate
16headquarters business or any business that is engaged in one of
17the target industries identified pursuant to the following
18criteria developed by the office in consultation with Enterprise
19Florida, Inc.:
20     1.  Future growth.-Industry forecasts should indicate
21strong expectation for future growth in both employment and
22output, according to the most recent available data. Special
23consideration should be given to businesses that export goods
24to, or provide services in, international markets and businesses
25that replace domestic and international imports of goods or
27     2.  Stability.-The industry should not be subject to
28periodic layoffs, whether due to seasonality or sensitivity to
29volatile economic variables such as weather. The industry should
30also be relatively resistant to recession, so that the demand
31for products of this industry is not typically subject to
32decline during an economic downturn.
33     3.  High wage.-The industry should pay relatively high
34wages compared to statewide or area averages.
35     4.  Market and resource independent.-The location of
36industry businesses should not be dependent on Florida markets
37or resources as indicated by industry analysis, except for
38businesses in the renewable energy industry.
39     5.  Industrial base diversification and strengthening.-The
40industry should contribute toward expanding or diversifying the
41state's or area's economic base, as indicated by analysis of
42employment and output shares compared to national and regional
43trends. Special consideration should be given to industries that
44strengthen regional economies by adding value to basic products
45or building regional industrial clusters as indicated by
46industry analysis. Special consideration should also be given to
47the development of strong industrial clusters that include
48defense and homeland security businesses.
49     6.  Economic benefits.-The industry is expected to have
50strong positive impacts on or benefits to the state or regional
52     7.  Enhance trade.-The industry should facilitate the
53growth and development of domestic and international trade and
54logistics. Special consideration should be given to industries
55that strengthen the state's position as a global trade and
56logistics hub.
58The term does not include any business engaged in retail
59industry activities; any electrical utility company; any
60phosphate or other solid minerals severance, mining, or
61processing operation; any oil or gas exploration or production
62operation; or any business subject to regulation by the Division
63of Hotels and Restaurants of the Department of Business and
64Professional Regulation. Any business within NAICS code 5611 or
655614, office administrative services and business support
66services, respectively, may be considered a target industry
67business only after the local governing body and Enterprise
68Florida, Inc., make a determination that the community where the
69business may locate has conditions affecting the fiscal and
70economic viability of the local community or area, including but
71not limited to, factors such as low per capita income, high
72unemployment, high underemployment, and a lack of year-round
73stable employment opportunities, and such conditions may be
74improved by the location of such a business to the community. By
75January 1 of every 3rd year, beginning January 1, 2011, the
76office, in consultation with Enterprise Florida, Inc., economic
77development organizations, the State University System, local
78governments, employee and employer organizations, market
79analysts, and economists, shall review and, as appropriate,
80revise the list of such target industries and submit the list to
81the Governor, the President of the Senate, and the Speaker of
82the House of Representatives.
83     Section 2.  This act shall take effect July 1, 2011.

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