HB 1335: Economic Development
GENERAL BILL by Jenne ; (CO-INTRODUCERS) Berman ; Bullard ; Clemens ; Cruz ; Fullwood ; Kriseman ; Pafford ; Perman ; Randolph
Economic Development; Creates "Fair Economy Act"; requires members of unitary business or water's edge group to file combined corporate income tax return & allocate income to Florida using single apportionment computation; disregards intercompany transactions between affiliated entities; adopts throw-out rule for sales & income attributable to Florida by members whose activities are excluded from apportionment; requires water's edge group to file domestic disclosure spreadsheet disclosing income reported to each state, state tax liability, & method used to apportion or allocate income to each state; provides transition rules; requires DEO, with DOR, to submit annual report of economic development incentives & state expenditures for economic development activities; provides for withholding of certain funds from property-taxing authorities that do not submit reports; requires granting authorities to use unified application for award of incentives, submit approved applications to DEO, & submit progress reports to DEO on incentives; requires recipient corporations & their corporate parents to provide access to project sites & certain records; authorizes fines against recipient corporations that do not grant access or submit reports; provides for recapture & repayment of incentives from recipient corporations that do not meet certain job, wage, & employee benefit requirements or whose corporate parents do not maintain certain levels of employment in state.
Last Action: 3/9/2012 House - Died in Business and Consumer Affairs Subcommittee
Bill Text: PDF
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Bill History
Date Chamber Action 1/6/2012 House • Filed
1/10/2012 House • Introduced -HJ 131
1/12/2012 House • Referred to Business and Consumer Affairs Subcommittee; Finance and Tax Committee; Transportation and Economic Development Appropriations Subcommittee; Economic Affairs Committee -HJ 215
3/9/2012 House • Died in Business and Consumer Affairs Subcommittee
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HB 1335, Original Filed Version (Current Bill Version) Posted 1/6/2012 at 2:36 PM
Bill Text: PDF Analyses: None Related Bills (4)
Bill Number Subject Filed By Relationship Last Action and Location Track Bills H 1347 Corporate Transparency in the State Budget Randolph Compare Last Action: 3/9/2012 H Died in Business and Consumer Affairs Subcommittee
Location: In committee/council (BCAS)
S 1590 Corporate Income Tax Rich Compare Last Action: 3/9/2012 S Died in Commerce and Tourism
Location: In committee/council (CM)
S 1592 Economic Development Subsidies Braynon Compare Last Action: 3/9/2012 S Died in Commerce and Tourism
Location: In committee/council (CM)
S 1870 Corporate Transparency in the State Budget Rich Compare Last Action: 3/9/2012 S Died in Commerce and Tourism
Location: In committee/council (CM)
Citations - Statutes (27)
Citation Catchline Location in Bill Location In Bill Help 220.03 Definitions. Page 5 (pdf) 220.13 “Adjusted federal income” defined. Page 7 (pdf) 220.131 Adjusted federal income; affiliated groups. Page 44 (pdf) 220.136 Page 16 (pdf) 220.1363 Page 18 (pdf) 220.14 Exemption. Page 22 (pdf) 220.15 Apportionment of adjusted federal income. Page 23 (pdf) 220.183 Community contribution tax credit. Page 26 (pdf) 220.1845 Contaminated site rehabilitation tax credit. Page 27 (pdf) 220.1875 Credit for contributions to eligible nonprofit scholarship-funding organizations. Page 33 (pdf) 220.191 Capital investment tax credit. Page 34 (pdf) 220.192 Renewable energy technologies investment tax credit. Page 35 (pdf) 220.193 Florida renewable energy production credit. Page 36 (pdf) 220.51 Promulgation of rules and regulations. Page 39 (pdf) 220.64 Other provisions applicable to franchise tax. Page 40 (pdf) 288.1254 Entertainment industry financial incentive program. Page 40 (pdf) 288.9931 Page 45 (pdf) 288.9932 Page 45 (pdf), Page 48 (pdf) 288.9933 Page 45 (pdf), Page 49 (pdf) 288.9934 Page 45 (pdf), Page 50 (pdf) 288.9935 Page 45 (pdf), Page 53 (pdf) 288.9936 Page 45 (pdf), Page 55 (pdf) 288.9937 Page 45 (pdf), Page 56 (pdf) 288.9938 Page 45 (pdf), Page 58 (pdf) 288.9939 Page 45 (pdf), Page 58 (pdf) 376.30781 Tax credits for rehabilitation of drycleaning-solvent-contaminated sites and brownfield sites in designated brownfield areas; application process; rulemaking authority; revocation authority. Page 41 (pdf) 627.6699 Employee Health Care Access Act. Page 43 (pdf)