Florida Senate - 2013 COMMITTEE AMENDMENT
Bill No. PCS (526908) for CS for SB 928
Barcode 698404
LEGISLATIVE ACTION
Senate . House
Comm: WD .
04/22/2013 .
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The Committee on Appropriations (Ring) recommended the
following:
1 Senate Amendment (with title amendment)
2
3 Between lines 117 and 118
4 insert:
5 Section 4. Paragraph (p) of subsection (5) of section
6 212.08, Florida Statutes, is amended to read:
7 212.08 Sales, rental, use, consumption, distribution, and
8 storage tax; specified exemptions.—The sale at retail, the
9 rental, the use, the consumption, the distribution, and the
10 storage to be used or consumed in this state of the following
11 are hereby specifically exempt from the tax imposed by this
12 chapter.
13 (5) EXEMPTIONS; ACCOUNT OF USE.—
14 (p) Community contribution tax credit for donations.—
15 1. Authorization.—Persons who are registered with the
16 department under s. 212.18 to collect or remit sales or use tax
17 and who make donations to eligible sponsors are eligible for tax
18 credits against their state sales and use tax liabilities as
19 provided in this paragraph:
20 a. The credit shall be computed as 50 percent of the
21 person’s approved annual community contribution.
22 b. The credit shall be granted as a refund against state
23 sales and use taxes reported on returns and remitted in the 12
24 months preceding the date of application to the department for
25 the credit as required in sub-subparagraph 3.c. If the annual
26 credit is not fully used through such refund because of
27 insufficient tax payments during the applicable 12-month period,
28 the unused amount may be included in an application for a refund
29 made pursuant to sub-subparagraph 3.c. in subsequent years
30 against the total tax payments made for such year. Carryover
31 credits may be applied for a 3-year period without regard to any
32 time limitation that would otherwise apply under s. 215.26.
33 c. A person may not receive more than $200,000 in annual
34 tax credits for all approved community contributions made in any
35 one year.
36 d. All proposals for the granting of the tax credit require
37 the prior approval of the Department of Economic Opportunity.
38 e. The total amount of tax credits which may be granted for
39 all programs approved under this paragraph, s. 220.183, and s.
40 624.5105 is $10.5 million annually for projects that provide
41 homeownership opportunities for low-income or very-low-income
42 households as those terms are defined in s. 420.9071(19) and
43 (28) and $3.5 million annually for all other projects.
44 f. A person who is eligible to receive the credit provided
45 for in this paragraph, s. 220.183, or s. 624.5105 may receive
46 the credit only under the one section pursuant to of the
47 person’s choice.
48 2. Eligibility requirements.—
49 a. A community contribution by a person must be in the
50 following form:
51 (I) Cash or other liquid assets;
52 (II) Real property;
53 (III) Goods or inventory; or
54 (IV) Other physical resources as identified by the
55 Department of Economic Opportunity.
56 b. All community contributions must be reserved exclusively
57 for use in a project. As used in this sub-subparagraph, the term
58 “project” means any activity undertaken by an eligible sponsor
59 which is designed to construct, improve, or substantially
60 rehabilitate housing that is affordable to low-income or very
61 low-income households as those terms are defined in s.
62 420.9071(19) and (28); designed to provide commercial,
63 industrial, or public resources and facilities; or designed to
64 improve entrepreneurial and job-development opportunities for
65 low-income persons. A project may be the investment necessary to
66 increase access to high-speed broadband capability in rural
67 communities with enterprise zones, including projects that
68 result in improvements to communications assets that are owned
69 by a business. A project may include the provision of museum
70 educational programs and materials that are directly related to
71 a any project approved between January 1, 1996, and December 31,
72 1999, and located in an enterprise zone designated pursuant to
73 s. 290.0065. This paragraph does not preclude projects that
74 propose to construct or rehabilitate housing for low-income or
75 very-low-income households on scattered sites. With respect to
76 housing, contributions may be used to pay the following eligible
77 low-income and very-low-income housing-related activities:
78 (I) Project development impact and management fees for low
79 income or very-low-income housing projects;
80 (II) Down payment and closing costs for low-income persons
81 and very-low-income eligible persons, as those terms are defined
82 in s. 420.9071(19) and (28);
83 (III) Administrative costs, including housing counseling
84 and marketing fees, not to exceed 10 percent of the community
85 contribution, directly related to low-income or very-low-income
86 projects; and
87 (IV) Removal of liens recorded against residential property
88 by municipal, county, or special district local governments if
89 when satisfaction of the lien is a necessary precedent to the
90 transfer of the property to a low-income person or very-low-
91 income an eligible person, as those terms are defined in s.
92 420.9071(19) and (28), for the purpose of promoting home
93 ownership. Contributions for lien removal must be received from
94 a nonrelated third party.
95 c. The project must be undertaken by an “eligible sponsor,”
96 which includes:
97 (I) A community action program;
98 (II) A nonprofit community-based development organization
99 whose mission is the provision of housing for low-income or
100 very-low-income households or increasing entrepreneurial and
101 job-development opportunities for low-income persons;
102 (III) A neighborhood housing services corporation;
103 (IV) A local housing authority created under chapter 421;
104 (V) A community redevelopment agency created under s.
105 163.356;
106 (VI) A historic preservation district agency or
107 organization;
108 (VII) A regional workforce board;
109 (VIII) A direct-support organization as provided in s.
110 1009.983;
111 (IX) An enterprise zone development agency created under s.
112 290.0056;
113 (X) A community-based organization incorporated under
114 chapter 617 which is recognized as educational, charitable, or
115 scientific pursuant to s. 501(c)(3) of the Internal Revenue Code
116 and whose bylaws and articles of incorporation include
117 affordable housing, economic development, or community
118 development as the primary mission of the corporation;
119 (XI) Units of local government;
120 (XII) Units of state government; or
121 (XIII) Any other agency that the Department of Economic
122 Opportunity designates by rule.
123
124 In no event may A contributing person may not have a
125 financial interest in the eligible sponsor.
126 d. The project must be located in an area designated an
127 enterprise zone or a Front Porch Florida Community, unless the
128 project increases access to high-speed broadband capability for
129 rural communities that have with enterprise zones but is
130 physically located outside the designated rural zone boundaries.
131 Any project designed to construct or rehabilitate housing for
132 low-income or very-low-income households as those terms are
133 defined in s. 420.9071(19) and (28) is exempt from the area
134 requirement of this sub-subparagraph.
135 e.(I) If, during the first 10 business days of the state
136 fiscal year, eligible tax credit applications for projects that
137 provide homeownership opportunities for low-income households or
138 very-low-income households as those terms are defined in s.
139 420.9071(19) and (28) are received for less than the annual tax
140 credits available for those projects, the Department of Economic
141 Opportunity shall grant tax credits for those applications and
142 shall grant remaining tax credits on a first-come, first-served
143 basis for any subsequent eligible applications received before
144 the end of the state fiscal year. If, during the first 10
145 business days of the state fiscal year, eligible tax credit
146 applications for projects that provide homeownership
147 opportunities for low-income or very-low-income households as
148 defined in s. 420.9071(19) and (28) are received for more than
149 the annual tax credits available for those projects, the
150 Department of Economic Opportunity shall grant the tax credits
151 for those applications as follows:
152 (A) If tax credit applications submitted for approved
153 projects of an eligible sponsor do not exceed $200,000 in total,
154 the credits shall be granted in full if the tax credit
155 applications are approved.
156 (B) If tax credit applications submitted for approved
157 projects of an eligible sponsor exceed $200,000 in total, the
158 amount of tax credits granted pursuant to sub-sub-sub
159 subparagraph (A) shall be subtracted from the amount of
160 available tax credits, and the remaining credits shall be
161 granted to each approved tax credit application on a pro rata
162 basis.
163 (II) If, during the first 10 business days of the state
164 fiscal year, eligible tax credit applications for projects other
165 than those that provide homeownership opportunities for low
166 income households or very-low-income households as those terms
167 are defined in s. 420.9071(19) and (28) are received for less
168 than the annual tax credits available for those projects, the
169 Department of Economic Opportunity shall grant tax credits for
170 those applications and shall grant remaining tax credits on a
171 first-come, first-served basis for any subsequent eligible
172 applications received before the end of the state fiscal year.
173 If, during the first 10 business days of the state fiscal year,
174 eligible tax credit applications for projects other than those
175 that provide homeownership opportunities for low-income or very
176 low-income households as defined in s. 420.9071(19) and (28) are
177 received for more than the annual tax credits available for
178 those projects, the Department of Economic Opportunity shall
179 grant the tax credits for those applications on a pro rata
180 basis.
181 3. Application requirements.—
182 a. Any eligible sponsor seeking to participate in this
183 program must submit a proposal to the Department of Economic
184 Opportunity which sets forth the name of the sponsor, a
185 description of the project, and the area in which the project is
186 located, together with such supporting information as is
187 prescribed by rule. The proposal must also contain a resolution
188 from the local governmental unit in which the project is located
189 certifying that the project is consistent with local plans and
190 regulations.
191 b. Any person seeking to participate in this program must
192 submit an application for tax credit to the Department of
193 Economic Opportunity which sets forth the name of the sponsor, a
194 description of the project, and the type, value, and purpose of
195 the contribution. The sponsor shall verify, in writing, the
196 terms of the application and indicate its receipt of the
197 contribution, which verification must be in writing and
198 accompany the application for tax credit. The person must submit
199 a separate tax credit application to the department of Economic
200 Opportunity for each individual contribution that it makes to
201 each individual project.
202 c. Any person who has received notification from the
203 Department of Economic Opportunity that a tax credit has been
204 approved must apply to the department to receive the refund.
205 Application must be made on the form prescribed for claiming
206 refunds of sales and use taxes and be accompanied by a copy of
207 the notification. A person may submit only one application for
208 refund to the department within a any 12-month period.
209 4. Administration.—
210 a. The Department of Economic Opportunity may adopt rules
211 pursuant to ss. 120.536(1) and 120.54 necessary to administer
212 this paragraph, including rules for the approval or disapproval
213 of proposals by a person.
214 b. The decision of the Department of Economic Opportunity
215 must be in writing, and, if approved, the notification shall
216 state the maximum credit allowable to the person. Upon approval,
217 the Department of Economic Opportunity shall transmit a copy of
218 the decision to the Department of Revenue.
219 c. The Department of Economic Opportunity shall
220 periodically monitor all projects in a manner consistent with
221 available resources to ensure that resources are used in
222 accordance with this paragraph; however, each project must be
223 reviewed at least once every 2 years.
224 d. The Department of Economic Opportunity shall, in
225 consultation with the statewide and regional housing and
226 financial intermediaries, market the availability of the
227 community contribution tax credit program to community-based
228 organizations.
229 5. Expiration.—This paragraph expires June 30, 2025 2015;
230 however, any accrued credit carryover that is unused on that
231 date may be used until the expiration of the 3-year carryover
232 period for such credit.
233 Section 5. Subsection (5) of section 220.183, Florida
234 Statutes, is amended to read:
235 220.183 Community contribution tax credit.—
236 (5) EXPIRATION.—The provisions of this section, except
237 paragraph (1)(e), shall expire and are be void on June 30, 2025
238 2015.
239 Section 6. Subsection (6) of section 624.5105, Florida
240 Statutes, is amended to read:
241 624.5105 Community contribution tax credit; authorization;
242 limitations; eligibility and application requirements;
243 administration; definitions; expiration.—
244 (6) EXPIRATION.—The provisions of this section, except
245 paragraph (1)(e), shall expire and are be void on June 30, 2025
246 2015.
247
248 ================= T I T L E A M E N D M E N T ================
249 And the title is amended as follows:
250 Delete line 10
251 and insert:
252 partnerships and used for affordable housing for
253 certain income-qualified persons; amending s. 212.08,
254 F.S.; revising criteria for community contribution tax
255 credit for donations; amending ss. 220.183 and
256 624.5105, F.S.; extending the expiration date
257 applicable to the granting of community contribution
258 tax credits against the sales and use tax, corporate
259 income tax, and insurance premium tax for
260 contributions to eligible sponsors of community
261 projects approved by the Department of Economic
262 Opportunity; amending s. 420.507,