Florida Senate - 2012                        COMMITTEE AMENDMENT
       Bill No. SB 1110
       
       
       
       
       
       
                                Barcode 483130                          
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                  Comm: RCS            .                                
                  02/21/2012           .                                
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       The Committee on Community Affairs (Wise) recommended the
       following:
       
    1         Senate Substitute for Amendment (764884) (with directory
    2  and title amendments)
    3  
    4         Between lines 39 and 40
    5  insert:
    6         (4) APPLICATION AND APPROVAL PROCESS.—
    7         (f) Effective July 1, 2011, Notwithstanding paragraph
    8  (2)(j) (2)(k), the department office may reduce the local
    9  financial support requirements of this section by one-half for a
   10  qualified target industry business located in Bay County,
   11  Escambia County, Franklin County, Gadsden County, Gulf County,
   12  Holmes County, Jackson County, Jefferson County, Leon County,
   13  Okaloosa County, Santa Rosa County, Wakulla County, or Walton
   14  County, or Washington County if the department office determines
   15  that such reduction of the local financial support requirements
   16  is in the best interest of the state and facilitates economic
   17  development, growth, or new employment opportunities in such
   18  county. The amount of any reduction of the local financial
   19  support requirements shall be provided by the department using
   20  funds from the account; however, funds provided from the account
   21  may not exceed 90 percent of the annual tax refund for a
   22  qualified target industry business. This paragraph expires June
   23  30, 2014.
   24  
   25  ====== D I R E C T O R Y  C L A U S E  A M E N D M E N T ======
   26         And the directory clause is amended as follows:
   27         Delete lines 24 - 25
   28  and insert:
   29         Section 2. Paragraph (c) of subsection (3) and paragraph
   30  (f) of subsection (4) of section 288.106, Florida Statutes, are
   31  amended to read:
   32  
   33  ================= T I T L E  A M E N D M E N T ================
   34         And the title is amended as follows:
   35         Between lines 9 and 10
   36  insert:
   37         authorizing the reduction of local financial support
   38         requirements for qualified target industry businesses
   39         in specified counties; revising the list of specified
   40         counties; requiring that any reduction be provided
   41         from funds in the Economic Development Incentives
   42         Account within the Economic Development Trust Fund;
   43         providing a cap on the amount of funds provided;
   44         deleting an obsolete provision; conforming a cross
   45         reference;