Florida Senate - 2013                                     SB 236
       
       
       
       By Senator Hukill
       
       
       
       
       8-00287-13                                             2013236__
    1                        A bill to be entitled                      
    2         An act relating to tax refund programs; amending ss.
    3         288.1045 and 288.106, F.S.; deleting caps on tax
    4         refunds for qualified defense contractors and space
    5         flight businesses and for qualified target industry
    6         businesses; providing an effective date.
    7  
    8  Be It Enacted by the Legislature of the State of Florida:
    9  
   10         Section 1. Present paragraphs (d) through (h) of subsection
   11  (2) of section 288.1045, Florida Statutes, are redesignated as
   12  paragraphs (c) through (g), respectively, and present paragraph
   13  (c) of that subsection is amended, to read:
   14         288.1045 Qualified defense contractor and space flight
   15  business tax refund program.—
   16         (2) GRANTING OF A TAX REFUND; ELIGIBLE AMOUNTS.—
   17         (c) A qualified applicant may not receive more than $7
   18  million in tax refunds pursuant to this section in all fiscal
   19  years.
   20         Section 2. Paragraph (c) of subsection (3) of section
   21  288.106, Florida Statutes, is amended to read:
   22         288.106 Tax refund program for qualified target industry
   23  businesses.—
   24         (3) TAX REFUND; ELIGIBLE AMOUNTS.—
   25         (c) A qualified target industry business may not receive
   26  refund payments of more than 25 percent of the total tax refunds
   27  specified in the tax refund agreement under subparagraph
   28  (5)(a)1. in any fiscal year. Further, a qualified target
   29  industry business may not receive more than $1.5 million in
   30  refunds under this section in any single fiscal year, or more
   31  than $2.5 million in any single fiscal year if the project is
   32  located in an enterprise zone. A qualified target industry
   33  business may not receive more than $7 million in refund payments
   34  under this section in all fiscal years, or more than $7.5
   35  million if the project is located in an enterprise zone.
   36         Section 3. This act shall take effect July 1, 2013.