HB 105

1	A bill to be entitled
2	An act relating to employment of the homeless;
3	amending s. 220.02, F.S.; specifying the order for
4	applying the tax credit for employment of the
5	homeless; amending s. 220.13, F.S.; redefining the
6	term "adjusted federal income" to include an
7	adjustment for such tax credit; creating s. 220.197,
8	F.S.; providing definitions; providing a tax credit
9	for a corporation that hires a homeless person
10	residing in a transitional, permanent supportive, or
11	permanent housing facility; specifying the information
12	that must be provided to the Department of Revenue
13	when applying for the credit; providing for the
14	carryover of unused credits; requiring that the
15	application be filed with the department by a
16	specified date each year; providing penalties for
17	fraudulently claiming the tax credit; limiting the
18	total amount of tax credits that may be granted per
19	taxable year; authorizing the department to adopt
20	rules; providing for the expiration of the tax credit;
21	requiring that the department collect certain data;
22	providing an effective date.
23
24	Be It Enacted by the Legislature of the State of Florida:
25
26	Section 1.  Subsection (8) of section 220.02, Florida
27	Statutes, is amended to read:
28	220.02  Legislative intent.-
29	(8)  It is the intent of the Legislature that credits
30	against either the corporate income tax or the franchise tax be
31	applied in the following order: those enumerated in s. 631.828,
32	those enumerated in s. 220.191, those enumerated in s. 220.181,
33	those enumerated in s. 220.183, those enumerated in s. 220.182,
34	those enumerated in s. 220.1895, those enumerated in s. 220.195,
35	those enumerated in s. 220.184, those enumerated in s. 220.186,
36	those enumerated in s. 220.1845, those enumerated in s. 220.19,
37	those enumerated in s. 220.185, those enumerated in s. 220.1875,
38	those enumerated in s. 220.192, those enumerated in s. 220.193,
39	those enumerated in s. 288.9916, those enumerated in s.
40	220.1899, those enumerated in s. 220.1896, those enumerated in
41	s. 220.194, and those enumerated in s. 220.196, and those
42	enumerated s. 220.197.
43	Section 2.  Paragraph (a) of subsection (1) of section
44	220.13, Florida Statutes, is amended to read:
45	220.13  "Adjusted federal income" defined.-
46	(1)  The term "adjusted federal income" means an amount
47	equal to the taxpayer's taxable income as defined in subsection
48	(2), or such taxable income of more than one taxpayer as
49	provided in s. 220.131, for the taxable year, adjusted as
50	follows:
51	(a)  Additions.-There shall be added to such taxable
52	income:
53	1.  The amount of any tax upon or measured by income,
54	excluding taxes based on gross receipts or revenues, paid or
55	accrued as a liability to the District of Columbia or any state
56	of the United States which is deductible from gross income in
57	the computation of taxable income for the taxable year.
58	2.  The amount of interest which is excluded from taxable
59	income under s. 103(a) of the Internal Revenue Code or any other
60	federal law, less the associated expenses disallowed in the
61	computation of taxable income under s. 265 of the Internal
62	Revenue Code or any other law, excluding 60 percent of any
63	amounts included in alternative minimum taxable income, as
64	defined in s. 55(b)(2) of the Internal Revenue Code, if the
65	taxpayer pays tax under s. 220.11(3).
66	3.  In the case of a regulated investment company or real
67	estate investment trust, an amount equal to the excess of the
68	net long-term capital gain for the taxable year over the amount
69	of the capital gain dividends attributable to the taxable year.
70	4.  That portion of the wages or salaries paid or incurred
71	for the taxable year which is equal to the amount of the credit
72	allowable for the taxable year under s. 220.181. This
73	subparagraph shall expire on the date specified in s. 290.016
74	for the expiration of the Florida Enterprise Zone Act.
75	5.  That portion of the ad valorem school taxes paid or
76	incurred for the taxable year which is equal to the amount of
77	the credit allowable for the taxable year under s. 220.182. This
78	subparagraph shall expire on the date specified in s. 290.016
79	for the expiration of the Florida Enterprise Zone Act.
80	6.  The amount taken as a credit under s. 220.195 which is
81	deductible from gross income in the computation of taxable
82	income for the taxable year.
83	7.  That portion of assessments to fund a guaranty
84	association incurred for the taxable year which is equal to the
85	amount of the credit allowable for the taxable year.
86	8.  In the case of a nonprofit corporation which holds a
87	pari-mutuel permit and which is exempt from federal income tax
88	as a farmers' cooperative, an amount equal to the excess of the
89	gross income attributable to the pari-mutuel operations over the
90	attributable expenses for the taxable year.
91	9.  The amount taken as a credit for the taxable year under
92	s. 220.1895.
93	10.  Up to nine percent of the eligible basis of any
94	designated project which is equal to the credit allowable for
95	the taxable year under s. 220.185.
96	11.  The amount taken as a credit for the taxable year
97	under s. 220.1875. The addition in this subparagraph is intended
98	to ensure that the same amount is not allowed for the tax
99	purposes of this state as both a deduction from income and a
100	credit against the tax. This addition is not intended to result
101	in adding the same expense back to income more than once.
102	12.  The amount taken as a credit for the taxable year
103	under s. 220.192.
104	13.  The amount taken as a credit for the taxable year
105	under s. 220.193.
106	14.  Any portion of a qualified investment, as defined in
107	s. 288.9913, which is claimed as a deduction by the taxpayer and
108	taken as a credit against income tax pursuant to s. 288.9916.
109	15.  The costs to acquire a tax credit pursuant to s.
110	288.1254(5) that are deducted from or otherwise reduce federal
111	taxable income for the taxable year.
112	16.  The amount taken as a credit for the taxable year
113	pursuant to s. 220.194.
114	17.  The amount taken as a credit for the taxable year
115	under s. 220.196. The addition in this subparagraph is intended
116	to ensure that the same amount is not allowed for the tax
117	purposes of this state as both a deduction from income and a
118	credit against the tax. The addition is not intended to result
119	in adding the same expense back to income more than once.
120	18.  The amount taken as a credit for the taxable year
121	under s. 220.197.
122	Section 3.  Section 220.197, Florida Statutes, is created
123	to read:
124	220.197  Tax credit for employment of the homeless.-
125	(1)  As used in this section, the term:
126	(a)  "Continuously employed" means that an employee has
127	worked for the corporation for at least 80 hours during each 30-
128	day period and has been employed at least 6 months after the
129	date that the employee began working for the corporation on or
130	after July 1, 2012.
131	(b)  "Homeless person" means an individual whose primary
132	nighttime residence is a transitional, permanent supportive, or
133	permanent housing facility.
134	(c)  "Transitional, permanent supportive, or permanent
135	housing facility" means a facility located in the state that is:
136	1.  A supervised, publicly or privately operated shelter
137	that is designed to provide temporary living accommodations,
138	including welfare hotels, congregate shelters, and transitional
139	housing for the mentally ill, and that receives federal homeless
140	assistance funding distributed by the United States Department
141	of Housing and Urban Development.
142	2.  An emergency shelter that receives county homeless
143	assistance funding.
144	(2)  For taxable years beginning on or after January 1,
145	2013, a tax credit of $1,000 shall be allowed to a corporation
146	against any corporate income tax due under this chapter if the
147	corporation hires a homeless person who resides in an emergency
148	shelter or a transitional, permanent supportive, or permanent
149	housing facility at the time he or she begins employment and who
150	remains continuously employed by the corporation for at least 6
151	months. The tax credit may be taken only once per new employee.
152	(3)  Upon applying for the credit, the corporation must
153	provide the department with the following information:
154	(a)  For each new employee for whom the credit is claimed:
155	1.  The employee's name, social security number, and
156	current address or, if the employee is no longer employed, the
157	last known address of the person while employed by the
158	corporation.
159	2.  The address of the transitional, permanent supportive,
160	or permanent housing facility where the employee was residing at
161	the time he or she began employment and documentation from the
162	facility which demonstrates that the employee qualified for and
163	was residing at the facility at the time he or she began
164	employment.
165	3.  The salary or hourly wages paid to the new employee
166	during the taxable year.
167	(b)  The total salary or hourly wages paid during the
168	taxable year to each employee who is still employed by the
169	corporation and for whom the tax credit was claimed in a
170	previous taxable year.
171	(4)  If the credit is not fully used in any one year, the
172	unused amount may be carried forward for up to 5 years. The
173	carryover credit may be used in a subsequent year if the tax
174	imposed by this chapter exceeds the credit for the year after
175	applying any other credits and unused credit carryovers in the
176	order provided in s. 220.02(8).
177	(5)  The corporation applying for the credit must
178	affirmatively demonstrate to the satisfaction of the department
179	that it meets the requirements in this section. An application
180	must be filed with the department by February 1 of each year for
181	an allocation of the previous year's credit. The application
182	must show that all of the requirements in this section were met
183	during the previous calendar year.
184	(6)  Any person who fraudulently claims the credit is
185	liable for payment of the credit, plus a mandatory penalty in
186	the amount of 200 percent of the credit and interest at the rate
187	provided in s. 220.807, and commits a felony of the third
188	degree, punishable as provided in s. 775.082, s. 775.083, or s.
189	775.084.
190	(7)  The total amount of tax credit that may be granted
191	under this section is $2 million per calendar year. If the total
192	amount of tax credit for applications submitted in a given
193	calendar year exceeds $2 million, the amount of tax credit per
194	applicant shall be granted on a pro rata basis. If the full
195	amount of the tax credit is not allowed due to the $2 million-
196	annual limitation, the balance shall be allowed in the following
197	tax year. The amount not allowed in the previous tax year shall
198	be allowed in full before the pro rata allocation of tax credit
199	in the next tax year.
200	(8)  The department may adopt rules and forms to administer
201	this section.
202	(9)  This section expires December 31, 2017, except for
203	subsections (3) and (8), which expire December 31, 2023. In
204	determining whether to reenact this section, the Legislature
205	shall consider whether the revenue generated from wages paid to
206	qualifying employees outweighs the cost to the state in terms of
207	the amount of taxes waived. The department shall collect and
208	maintain data relating to the total amount of wages paid to
209	employees for whom a tax credit has been claimed in order to
210	assist the Legislature in making its determination.
211	Section 4.  This act shall take effect July 1, 2012.

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