Florida Senate - 2013                        COMMITTEE AMENDMENT
       Bill No. CS for SB 306
                                Barcode 749442                          
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                   Comm: WD            .                                
                  04/02/2013           .                                

       The Committee on Rules (Sobel) recommended the following:
    1         Senate Amendment (with title amendment)
    3         Between lines 345 and 346
    4  insert:
    5         Section 1. Present subsections (2) and (3) of section
    6  288.061, Florida Statutes, are renumbered as subsections (3) and
    7  (4), respectively, and a new subsection (2) and subsection (5)
    8  are added to that section, to read:
    9         288.061 Economic development incentive application
   10  process.—
   11         (2) Beginning July 1, 2013, the department shall review and
   12  evaluate each economic development incentive application for the
   13  economic benefits of the proposed award of state incentives
   14  proposed for the project. The term “economic benefits” has the
   15  same meaning as in s. 288.005. The Office of Economic and
   16  Demographic Research shall review and evaluate the methodology
   17  and model used to calculate the economic benefits. For purposes
   18  of this requirement, an amended definition of economic benefits
   19  may be developed in conjunction with the Office of Economic and
   20  Demographic Research. The Office of Economic and Demographic
   21  Research shall report on the methodology and model by September
   22  1, 2013, and every third year thereafter, to the President of
   23  the Senate and the Speaker of the House of Representatives.
   24         (5)(a) The executive director may not approve an economic
   25  development incentive application unless the application
   26  includes a signed written declaration by the applicant which
   27  must state that the applicant has read the information in the
   28  application and that the information is true, correct, and
   29  complete to the best of the applicant’s knowledge and belief.
   30         (b) After an economic development incentive application is
   31  approved, the awardee shall provide, in each year that the
   32  department is required to validate contractor performance, a
   33  signed written declaration. The written declaration must state
   34  that the awardee has reviewed the information and that the
   35  information is true, correct, and complete to the best of the
   36  awardee’s knowledge and belief.
   37         Section 2. Subsection (8) of section 288.0656, Florida
   38  Statutes, is amended to read:
   39         288.0656 Rural Economic Development Initiative.—
   40         (8) REDI shall submit a report to the Governor, the
   41  President of the Senate, and the Speaker of the House of
   42  Representatives each year on or before September 1 on all REDI
   43  activities for the prior fiscal year as a supplement to the
   44  annual report required under s. 20.60. This report must shall
   45  include a status report on all projects currently being
   46  coordinated through REDI, the number of preferential awards and
   47  allowances made pursuant to this section, the dollar amount of
   48  such awards, and the names of the recipients. The report must
   49  shall also include a description of all waivers of program
   50  requirements granted. The report must shall also include
   51  information as to the economic impact of the projects
   52  coordinated by REDI, and recommendations based on the review and
   53  evaluation of statutes and rules having an adverse impact on
   54  rural communities, and proposals to mitigate such adverse
   55  impacts.
   56         Section 3. Section 288.076, Florida Statutes, is created to
   57  read:
   58         288.076Return on investment reporting for economic
   59  development programs.—
   60         (1) As used in this section, the term:
   61         (a) “Jobs” has the same meaning as provided in s. 288.106.
   62         (b) “Participant business” means an employing unit, as
   63  defined in s. 443.036, that has entered into an agreement with
   64  the department to receive a state investment.
   65         (c) “Project” has the same meaning as provided in s.
   66  288.106.
   67         (d) “Project award date” means the date a participant
   68  business enters into an agreement with the department to receive
   69  a state investment.
   70         (e) “State investment” means any state grants, tax
   71  exemptions, tax refunds, tax credits, or other state incentives
   72  provided to a business under a program administered by the
   73  department, including the capital investment tax credit under s.
   74  220.191.
   75         (2) The department shall maintain a website for the purpose
   76  of publishing the information described in this section. The
   77  information required to be published under this section must be
   78  provided in a format accessible to the public which enables
   79  users to search for and sort specific data and to easily view
   80  and retrieve all data at once.
   81         (3) Within 48 hours after expiration of the period of
   82  confidentiality for project information deemed confidential and
   83  exempt pursuant to s. 288.075, the department shall publish the
   84  following information pertaining to each project:
   85         (a) The projected economic benefits at the time of the
   86  initial project award date.
   87         (b) Project information, including:
   88         1. The program or programs through which state investment
   89  is being made.
   90         2. The maximum potential cumulative state investment in the
   91  project.
   92         3. The target industry or industries, and any high-impact
   93  sectors implicated by the project.
   94         4. The county or counties that will be impacted by the
   95  project.
   96         5. The total cumulative local financial commitment and in
   97  kind support for the project.
   98         (c) Participant business information, including:
   99         1. The location of the headquarters of the participant
  100  business or, if a subsidiary, the headquarters of the parent
  101  company.
  102         2. The firm size class of the participant business or, if
  103  the participant business is owned by a parent company, the firm
  104  size class of the participant business’s parent company, using
  105  the firm size classes established by the United States
  106  Department of Labor Bureau of Labor Statistics, and whether the
  107  participant business qualifies as a small business as defined in
  108  s. 288.703.
  109         3. The date of the project award.
  110         4. The expected duration of the contract.
  111         5. The anticipated date when the participant business will
  112  claim the last state investment.
  113         (d) Project evaluation criteria, including:
  114         1. Economic benefits generated by the project.
  115         2. The net indirect and induced incremental jobs to be
  116  generated by the project.
  117         3. The net indirect and induced incremental capital
  118  investment to be generated by the project.
  119         4. The net indirect and induced incremental tax revenue
  120  paid to the state to be generated by the project.
  121         (e) Project performance goals, including:
  122         1. The incremental direct jobs attributable to the project,
  123  identifying the number of jobs generated and the number of jobs
  124  retained.
  125         2. The number of jobs generated and the number of jobs
  126  retained by the project, and for projects commencing after
  127  October 1, 2013, the median annual wage of persons holding such
  128  jobs.
  129         3. The incremental direct capital investment in the state
  130  generated by the project.
  131         4. The incremental projected tax revenue to the state paid
  132  by the participant business for the project.
  133         (f) The total amount of the state investment disbursed to
  134  the participant business to date under the terms of the
  135  contract, itemized by incentive program.
  136         (4) The department shall use methodology and formulas
  137  established by the Office of Economic and Demographic Research
  138  to calculate the economic benefits of each project. The
  139  department shall calculate and publish on its website the
  140  economic benefits of each project within 48 hours after the
  141  conclusion of the agreement between each participant business
  142  and the department. The Office of Economic and Demographic
  143  Research shall provide a description of the methodology and
  144  formulas used to calculate the economic benefits of a project to
  145  the department, and the department shall publish the information
  146  on its website within 48 hours after receiving such information.
  147         (5) At least annually, from the project award date, the
  148  department shall:
  149         (a) Publish verified results to update the information
  150  described in paragraphs (3)(b)-(f) to accurately reflect any
  151  changes in the published information since the project award
  152  date.
  153         (b) Publish on its website the date on which the
  154  information collected and published for each project was last
  155  updated.
  156         (6) The department shall annually publish information
  157  relating to the progress of Quick Action Closing Fund projects,
  158  including the average number of days between the date the
  159  department receives a completed application and the date on
  160  which the application is approved.
  161         (7) The department shall publish the following documents at
  162  the times specified herein:
  163         (a) Within 48 hours after expiration of the period of
  164  confidentiality provided under s. 288.075, the department shall
  165  publish the contract or agreement described in s. 288.061. The
  166  contract or agreement must be redacted to protect the
  167  participant business from disclosure of information that remains
  168  confidential or exempt by law.
  169         (b) Within 48 hours after submitting any report of findings
  170  and recommendations made pursuant to s. 288.106(7)(d) concerning
  171  a business’s failure to complete a tax refund agreement pursuant
  172  to the tax refund program for qualified target industry
  173  businesses, the department shall publish such report.
  174         (8) For projects completed before October 1, 2013, the
  175  department shall compile and, by October 1, 2014, shall publish
  176  the information described in subsections (3), (4), and (5), to
  177  the extent such information is available and applicable.
  178         (9) The provisions of this section which restrict the
  179  department’s publication of information are intended only to
  180  limit the information that the department may publish on its
  181  website and may not be construed as creating an exemption from
  182  public records requirements under s. 119.07(1) or s. 24(a), Art.
  183  I of the State Constitution.
  184         (10) The department may adopt rules to administer this
  185  section.
  187  ================= T I T L E  A M E N D M E N T ================
  188         And the title is amended as follows:
  189         Delete line 43
  190  and insert:
  191         act; amending s. 288.061, F.S.; requiring the
  192         Department of Economic Opportunity to analyze each
  193         economic development incentive application; providing
  194         a definition for the term “economic benefits”;
  195         prohibiting the executive director from approving an
  196         economic development incentive application unless a
  197         specified written declaration is received; requiring
  198         an economic development incentive awardee to provide
  199         certain declarations at specified intervals; amending
  200         s. 288.0656, F.S.; requiring the Rural Economic
  201         Development Initiative to submit a report to
  202         supplement the Department of Economic Opportunity’s
  203         annual report; deleting certain reporting
  204         requirements; creating s. 288.076, F.S.; providing
  205         definitions; requiring the department to publish on a
  206         website specified information concerning state
  207         investment in economic development programs; requiring
  208         the department to use methodology and formulas
  209         established by the Office of Economic and Demographic
  210         Research for specified calculations; requiring the
  211         Office of Economic and Demographic Research to provide
  212         a description of specified methodology and formulas to
  213         the department and requiring the department to publish
  214         this description on its website within a specified
  215         period; providing procedures and requirements for
  216         reviewing, updating, and supplementing specified
  217         published information; requiring the department to
  218         annually publish information relating to the progress
  219         of Quick Action Closing Fund projects; requiring the
  220         department to publish certain confidential information
  221         pertaining to participant businesses upon expiration
  222         of a specified confidentiality period; requiring the
  223         department to publish certain reports concerning
  224         businesses that fail to complete tax refund agreements
  225         under the tax refund program for qualified target
  226         industry businesses; providing for construction and
  227         legislative intent; authorizing the department to
  228         adopt rules; amending s. 288.1162, F.S.; authorizing a